Keep up with what’s been happening this week in our accountancy and finance news round-up…

 

US Fed injects $1.5tn to markets as Dow and FTSE suffer worst day since 1987

Panic over the coronavirus on the global financial markets amid the biggest market crash in a generation has forced the US central bank to inject trillions of dollars into bond markets in a drastic attempt to prevent a repeat of the 2008 credit crunch.

Eurozone bank tries to ease coronavirus crisis

The European Central Bank (ECB) has announced steps to tackle the economic impact of the coronavirus outbreak.

SoftBank unveils $4.8 billion buyback after stock tumble, pressure from Elliott

SoftBank Group Corp is buying back up to $4.8 billion of its shares after their recent slump, a move that partially met the demand of activist fund Elliott but failed to soothe investors panicking from the coronavirus pandemic.

GE urged to drop auditor KPMG following accounting missteps

An advisor to union pension funds in calling on General Electric Co. to drop KPMG as its auditor after a series of accounting missteps and strategic blunders rattled investor confidence in the one-time blue-chip company.

EY appoints audit chief to run UK and Ireland business

EY has picked its audit chief to run its UK business, continuing the Big Four’s woeful record of senior female leadership.

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