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The Latest Breaking News from KPMG

UK ministers and officials treated to hospitality 3,500 times in five years, study finds

Some of firms providing meals and tickets also among those to secure most meetings in key departments

The Guardian - UK

Trump sets auto tariffs at 25%, drawing swift backlash: 'The tariffs announced today will harm—not help,' says world's largest business association

The auto industry saw a “front running” on orders before the tariffs took effect, wrote KPMG senior economist Ken Kim in a note on Wednesday.

Fortune

Britons cutting back on everyday spending due to gloomy outlook on ‘worsening’ UK economy

The Consumer Pulse survey from KPMG found three in five people think the UK economy is worsening

The Independent UK

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Britons cutting back on spending as confidence in economy falls, survey shows

Most feel financially secure but think UK’s economy is worsening, as chancellor plans welfare cuts in spring statement

The Guardian - UK

Five years on, did the COVID pandemic have a lasting effect on how we work in Europe?

Experts believe that an initial spike in remote work during the pandemic is mostly over and that the future will involve hybrid work.

Euronews

Why CFOs and CIOs are in a power struggle over AI

Both leaders see themselves as responsible for driving business transformation.

Fortune

Geekflare’s This Week in Business Tech: Workday’s Spring 2025 Release, Operant AI Arrives in India, and More

As we approach the end of March, last week was filled with updates and new launches. US-based Operant AI arrived in India, Google acquired Wiz, Workday

Geekflare

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Firms hold back on hiring amid ‘significant cost rises’, surveys say

KPMG/REC report shows decline in people being placed in roles continues, while unemployment is rising, says BDO

The Guardian - UK

KPMG US Joins Deloitte In Scrapping DEI: The 'Big Four' Retreat From Diversity

KPMG also quietly removed its annual transparency reports which detailed the company's efforts to increase hiring among women and minority groups.

International Business Times UK

Economists less confident of RBA rate cut than market

An AAP survey of 32 leading Australian economists has tipped the Reserve Bank to cut interest rates this week, but more than one in five remain unconvinced.

AAP

January sales give retail stores their strongest growth in almost two years

Total retail sales across the UK increased by 2.6% year on year in January, according to the British Retail Consortium (BRC) and KPMG.

The Independent UK

Business hiring at its weakest since the pandemic following Budget tax raid on employers

Researchers warns there is unlikely to be any “significant improvement” in the near future

Evening Standard

Starmer to look at report on legality of Drax power station subsidies

The Government has previously faced calls to end financial support for companies such as Drax which generate electricity from burning wood.

Evening Standard

Top clothing chains to close, shedding hundreds of jobs

More than 250 outlets of two leading retail chains will close, costing nearly 1000 jobs, after receivers failed to find a buyer for the stores.

AAP

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Fortune

CFOs should take Trump's tariff plans 'very seriously,' says KPMG exec

There are three major factors corporate tax departments must face in 2025.

The Independent UK

ExpressVPN review 2025: Hands-down the most effortless VPN you’ll use

ExpressVPN is a dream to use thanks to its no-fuss user interface, and is blazing fast to boot

International Business Times

US Fed Prepares To Pause In First Rate Decision Since Trump's Inauguration

The US Federal Reserve is expected to announce a pause in rate cuts on Wednesday, as policymakers look to continue tackling inflation under close and vocal scrutiny from President Donald Trump.

The Guardian - UK

KPMG under investigation over audit of gambling company Entain

FRC confirms inquiry into accounting firm’s 2022 audit of Ladbrokes, Coral and Sportingbet owner

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Evening Standard

KPMG being probed by accounting watchdog over Entain audit

The Financial Reporting Council said it had launched an investigation into KPMG’s work on Entain’s 2022 accounts.

Evening Standard

Lenders expect mortgage demand to shrink in early 2025, Bank of England finds

The latest survey findings point to the financial strain on households against a backdrop of continued inflationary pressures, one expert said.

Evening Standard

Retail sales saw ‘solid’ growth in final month of 2024, experts say

The Scottish Retail Consortium said 2024 on the whole, however, was a ‘tepid’ year for sales in Scotland.

The Guardian - UK

Permanent job vacancies in UK shrink at fastest pace for four years

Job market data deepens sense of gloom enveloping UK plc as analysts plan close look at effects of NICs rise on hiring

The Independent UK

New Budget blow for Starmer as retailers warn of price hikes and job cuts

Retailers will be particularly hard hit by chancellor Rachel Reeves’s planned hike to employers’ national insurance

Evening Standard

Less than a fifth of people have switched bank account in past year – survey

Cash incentives, better customer service and more competitive interest rates were among the top reasons why people said they had last switched.

The Guardian - UK

Most UK businesses expect to grow in new year, surveys find

Economic confidence polls reveal that 70% expect turnover to rise and 73% expect profitability to rise

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