@peter_IFAMAG reads Twitter so you don’t have to.
Tabby Kinder, the journalist who covered the KPMG through the mire of scandals over the last few years, reveals the FRC is taking KPMG to a tribunal for allegedly false and misleading audit documents in their work for Carillion and Regenersis. Elsewhere CityWire finds 400,000 London houses hit with down valuations over the last year.
First, 400,000 london houses hit with down valuations over the last year.
Nearly 60 per cent of ALL properties sold in London hit by down valuations
Close to 400,000 houses and flats have been down valued in the last year alone —> https://t.co/ZeUTz1Gdx1
#Property #housing #houseprices #valutions #homebuyers #LondonProperty #Homes #RealEstate pic.twitter.com/bCFQYmbEbU— City A.M. (@CityAM) September 1, 2021
In contrast, the national annual house price growth rose about 0.5%
Nationwide : UK Annual house price growth rose to 11.0% from 10.5% in July
— Shaun Richards (@notayesmansecon) September 1, 2021
Michael Brown shares some positive news for the UK finance.
Short-term funding costs in the U.K are diverging from those in Europe as traders grow increasingly confident the Bank of England will deliver an interest-rate hike within the next year https://t.co/rryljOv8aW via @markets
— Michael Brown (@MrMBrown) September 1, 2021
Elsewhere Josephine Cumbo announces University employee pension cuts are on the way, in this thread.
NEW:University employers say they will still consider "alternative benefit structures and formulations", provided they are "viable, affordable & implementable".
The statement comes after the UK university sector union warned industrial action over pension cuts was "inevitable" pic.twitter.com/8vAImaLbtx
— Josephine Cumbo (@JosephineCumbo) September 1, 2021
Across the pond, the S&P index goes green.
https://twitter.com/NorthmanTrader/status/1432725409133703180
However many pundits share concerns for the market.
Note:
We currently have a shortage of polyethylene, polypropylene, & other plastics used to make automobiles, computers, pipes etc
Lousiana is one of the largest chemical company & chemical refining hubs in the US and we are likely to see days/weeks w/out power fully restored
— Tracy (𝒞𝒽𝒾 ) (@chigrl) August 31, 2021
And finally, KPMG will likely face a tribunal over the Carillion and Regenersis scandals.
The FRC is taking KPMG to tribunal for allegedly false and misleading audit documents in their work for Carillion and Regenersis
2.5 years after The Times broke the story about Carillion https://t.co/Z86fVEgD3R
And 1.5 years after Regenersis https://t.co/V89V4DqDzW
— Tabby Kinder (@Tabby_Kinder) September 1, 2021
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