Keep up to date with the latest accountancy and finance news in our weekly round-up…

 

UK business confidence matches 2008 low in May – Lloyds Bank

British business confidence fell to its lowest since the 2008 financial crisis in May, according to a survey for Lloyds Bank which contrasts with other surveys which have shown a small improvement since the initial shock of the coronavirus lockdown.

Rishi Sunak to taper furlough scheme, forcing employers to pay 20% of wages

The government will start tapering its furlough scheme from August by forcing those employers taking part to pay 20% of workers’ wages as well as covering their national insurance and pension contributions.

FTSE slips as US-China tensions rise over Hong Kong

The FTSE 100 has fallen as investors nervously await a press conference from US President Donald Trump that could escalate tensions with China over Hong Kong.

UK regulator opens probe into PwC and KPMG audits of Eddie Stobart

The UK accounting watchdog is investigating audits carried out by PwC and KPMG of Eddie Stobart, the UK logistics and haulage company that came close to collapse last year.

Virgin Atlantic lenders appoint Deloitte to assess restructure impact

A syndicate of lenders to Virgin Atlantic has appointed Deloitte to advise on their financial exposure in the event of a restructuring of the airline, according to reports.

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