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

 

Coronavirus: Airlines among businesses given Bank of England bailouts

Airline, transport and travel companies and car manufacturers are among the largest recipients of emergency funding under a Bank of England scheme that reveals the scale of the financial damage caused by coronavirus in the UK.

UK retail sales dive 18% in May as lockdown bites: BDO

British retailers saw sales plunge by nearly a fifth in May as the government’s coronavirus lockdown measures kept shopping streets empty, a survey showed.

KPMG chiefs vow renewed equality drive after George Floyd death

Bosses at KPMG have told staff they are committed to eradicating “discrimination and inequality of any kind”, making them the latest in a string of senior corporate figures to respond to George Floyd’s death in Minneapolis last week.

BDO takes over from KPMG at Ted Baker after £25 million books blunder

KPMG has been replaced by BDO as auditor of Ted Baker after the fashion firm’s £25 million inventory blunder. The retailer announced that BDO would take over the role after the AGM on 21 July.

Smith & Williamson, Tilney merger to go ahead

Top 20 firm Smith & Williamson’s delayed merger with Tilney to create a £45bn integrated wealth management and professional services business is to go ahead, after the two companies agreed a revised transaction structure and fresh financing.

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