FTSE LIVE: Sterling nosedives as UK sleepwalks towards no-deal Brexit

FTSE LIVE: Pound edges lower as Cabinet meets to discuss no-deal Brexit after Parliament fails again; MPs call for break up of Big Four accountants

  • Sterling sliding after EU’s Michel Barnier said a no deal was now more likely
  • MPs are calling for a full structural break-up of Deloitte, EY, KPMG and PwC
  • The Government’s so-called Bad Bank has sold £4.9bn of loans to Citi 

Could this be the end of Deloitte, EY, KPMG and PwC as we know them? Despite being under scrutiny for a long time, never before has a suggestion as radical as a complete structural breakup been put forward to help get a handle on the ‘big four’ accountancy giants. 

Elsewhere today, the pound is in the doldrums after MPs failed (once again) to find a majority on how to do Brexit – edging the UK closer to no deal. 

And the Government has pocketed £4.9billion after flogging a chunk of the former Northern Rock mortgages and loans it was forced to take on during the financial crisis.  

The Government's so-called Bad Bank has sold £4.9billion of loans to investment bank Citi

The Government’s so-called Bad Bank has sold £4.9billion of loans to investment bank Citi

 

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Markets | Mail Online

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