Keep up with the latest accountancy and finance news in our weekly round-up…
Britain’s banks are not ready for negative interest rates, according to the chairman of NatWest. The Bank of England said last week it had written to all banks and building societies to check whether they could pass on negative interest rates if the central bank cut the cost of borrowing below the current base rate of 0.1%
EU leaders have called for post-Brexit trade talks to continue beyond the end of the week – the deadline suggested by UK Prime Minister Boris Johnson.
Deloitte has resigned as auditor of EG Group, the UK petrol stations company whose billionaire owners just agreed a £6.8bn takeover of Asda, because of concerns over its governance and internal controls, according to four people briefed on the matter.
Hundreds of partners at KPMG UK are braced for reduced payouts as the firm postpones the release of its annual results until it has a clearer view of the impact of COVID-19 on the UK economy in 2021.
Challenger firm BDO now audits the highest number of listed UK companies as attempts to reform the sector sees companies move away from the Big Four.