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The UK’s economy rebounded more slowly than expected in May, growing just 1.8% from the previous month, as the gradual easing of lockdown had a modest impact.
The United Kingdom Debt Management Office is currently on track to raise an unprecedented 275 billion pounds between April and August, financing record borrowing that funds COVID-19 spreading, replaces lost tax revenue and repays maturing debt.
The FTSE 100 has opened lower as investors weigh up mixed Chinese economic data and US-China tensions outweigh optimism over a coronavirus vaccine.
The accounting watchdog has hit out at the UK’s largest auditors, after its annual inspection uncovered an “unacceptable” number of poorly executed company audits.
A third of the PwC audits reviewed by the Financial Reporting Council int his year’s audit quality inspection were judged to require improvement.