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

 

UK officially in recession for first time in 11 years

The UK economy suffered its biggest slump on record between April and June as coronavirus lockdown measures pushed the country officially into recession.

Top universities accused of inflexibility over A-level downgrades

Some of the UK’s most prestigious universities have been accused of failing to show the flexibility demanded by ministers, as disappointed students in England struggled to secure places with lower A-level grades than expected.

Extend loan repayment freezes until 2021, UK consumer group Which? says

Consumer group Which? Has called on Britain’s Financial Conduct Authority to extend loan repayment holidays and interest-free overdrafts until January 31st to shield millions of households from severe financial distress when the reliefs end in October.

PwC sued for £63m over Quindell deal ‘conspiracy’

PwC is being sued for £63m over accusations the Big Four accountancy firm conspired against a former client by releasing private financial information about the client to rival during a takeover approach.

Grant Thornton faces appeal on fraud and negligence lawsuit

Grant Thornton LLP is awaiting a ruling from an appeals court that’s expected to decide in the next few weeks on a case involving a manufacturing company owner who sued the firm for fraud, negligence and other claims.

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