Keep up to date with the latest accountancy and finance news in our weekly round-up…
Business leaders have urged the government to expand its Covid-1 rescue schemes to prevent thousands of businesses from going bust, as figures showed lenders have approved fewer than half of the applications for state-backed loans made to date.
British retail sales fell by the most on record in March as a surge in food buying for the coronavirus lockdown was dwarfed by a plunge in sales of clothing and most other goods, official figures showed on Friday.
One of the City’s most prominent bosses has warned that the “economic disaster” caused by the coronavirus pandemic risks surpassing its human toll, arguing that “a vaccine is the only known exit strategy”.
Hin Leong, the distressed Singapore oil trader that has admitted to $800m of undisclosed losses, is seeking to appoint PwC as an independent manager to run the business as it pursues a debt restructuring of almost $4bn.
Challenger accountancy firm RSM last night elected a new chief executive after a marathon virtual general meeting while rival Grant Thornton slashed wages to help the coronavirus crisis.