@peter_IFAMAG reads Twitter so you don’t have to.
Following a lengthy court case, Grant Thornton loses battle to overturn £22m court judgement. Tabby Kinder, of the FT, reports The Court of Appeals has set a precedent ‘leaving auditors liable for all losses a company suffers and dividends it pays while trading under a ‘negligent’ audit.’ Also, from Twitter today; the UK’s factory output expands at the fastest rate in six years, whilst Pret loses a third of its workforce.
Bloomberg shares new data today on the UK’s factory output. Output expanded at the quickest rate in more than six years.
U.K. factory output expands at the quickest rate in more than six years https://t.co/bSfCZ2iD2n pic.twitter.com/PrteFgZYyo
— Bloomberg Markets (@markets) September 1, 2020
Sarah O’Conner laments Pret’s ‘unsustainable economic model’ today, highlighting that just one in fifty job applicants was British.
https://twitter.com/sarahoconnor_/status/1300713458703400962
Deb Oxley CBE asks her followers to call for ‘direct government support for more employee and worker ownership.’
Direct Government support for more employee and worker ownership will only result in positive outcomes for the UK’s 5m SMEs – at a time when their survival is a key priority for future economic well-being. #employeeownership https://t.co/8959SU84Kz
— Deb Oxley OBE DL (@DebOxley) August 31, 2020
Here is Tabby Kinder’s tweet, calling the Grant Thornton ruling ‘bad news’ for the UK’s audit firms.
(More) Bad news for the audit profession today. The Court of Appeal has set legal precedent that means auditors can be held liable for all losses a company suffers and dividends it pays while trading under a "negligent" audithttps://t.co/kduwYvMle1
— Tabby Kinder (@Tabby_Kinder) August 28, 2020
On Friday, James Hurley revealed Wirecard’s English operation will be wound down.
As per @thetimes and @Siftedeu last week, confirmation today that Wirecard UK being wound down and technology and associated assets being sold to Railsbank. No equity being sold. Last minute hitch at end of last week resolved and deal should be completed by November.
— James Hurley (@jameshurley) August 28, 2020
And finally, Robin Wigglesworth shares his insights into recent bull market growth.
High-growth stock valuations elevated, but far from the extremes seen during the dotcom bubble, Bernstein notes. pic.twitter.com/k0MtfKxQe8
— Robin Wigglesworth (@RobinWigg) September 1, 2020
What are your thoughts on these tweets?
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