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

 

UK economy grows 6.6% in July as recovery continues

The UK economy grew 6.6% in July as it bounced back from the coronavirus lockdown of the spring, setting the stage for rapid GDP growth in the third quarter, official figures showed.

Citigroup becomes first big Wall Street bank to be run by female CEO

Citigroup has appointed the Scottish-American banker Jane Fraser as its next chief executive, the first time a big Wall Street bank will be led by a woman.

Deloitte puts UK restructuring business up for sale

Deloitte has put its UK restructuring practice up for sale following concern among its senior executives that it has become too difficult to manage conflicts of interests, said two people familiar with the decision.

Coronavirus: Caffe Nero hires KPMG to negotiate high street rent cuts

Caffe Nero has become the latest high street coffee chain to seek rent cuts from landlords amid tough new restrictions that could hamper the hospitality sector’s recovery from COVID-19.

EY reports global revenue grew 4.1% despite coronavirus

Ernst & Young reported Thursday that its global revenues grew 4.1% in the fiscal year ending June 30, 2020, despite the impact of the novel coronavirus pandemic.

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