PricewaterhouseCoopers has been paid fees of £322million for its work on the collapse of Lehman Brothers' European arm, a sum thought to be the largest ever earned from any single UK corporate failure... more
An influential House of Lords committee has accused UK auditors of either failing to spot mounting dangers in the banks or, if they did so, failing to alert regulators ahead of the banking crisis ... more
New anti-corruption laws condemned as 'a recipe for confusion' as a report warns firms could be prosecuted over hospitality such as a business trip that involves a round of golf or treating someone to dinner... more
When a travel firm hits trouble, its peers in the industry are committed to rescue and bring home the stranded customers. The fund management industry offers no such mutual protection for its clients stranded when a firm collapses
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A group of concerned supporters have written to the owners of Selhurst Park calling for the rent to be re-negotiated so that a take-over can happen... more
The full impact the recession has had on the UK’s hotel industry was laid bare today by new figures showing that sector insolvencies soared 120% since last June ... more
Administrators to Lehman Brothers' have paved the way for the bust bank to return $11 billion (£6.8 billion) of frozen assets to clients as early as next year... more
Consumer: FishWorks, the troubled restaurant chain, has collapsed into administration but an immediate bidding battle for some sites looked likely... more
Legal: Several investors in Satyam Computer, the outsourcing giant that announced this week that it had concealed $1 billion in losses, are considering suing PricewaterhouseCoopers LLC, the auditor of the company's doctored accounts... more
PricewaterhouseCoopers has been attacked by the Financial Reporting Council because it encourages certain partners on client audits to cross-sell other services of the firm... more
Hundreds of angry claimants descended on a creditors' meeting at the O2 Arena to hear how $1 trillion of Lehman Brothers assets will be split up... more
Banking: Winding up Lehman Brothers' operations in London is taking longer than expected, and may not be completed for many years, according to the man in charge of the investment bank's administration... more
Chancellor Alistair Darling says we are in the biggest financial crisis in 60 years. So we obviously have much worse to come than yesterday's 4.5% retreat on the FTSE 100... more
Afternoon:
8°c
