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Deloitte's auditing of Mitie faces probe by watchdog

Deloitte’s auditing of outsourcing firm Mitie Group’s accounts is to be probed by the UK’s accountancy watchdog.The Financial Reporting Council (FRC) said its investigation related to Mitie’s financial statements for the years ending 31 March 2015 and 2016.Deloitte said it took the investigation “very seriously” and would co-operate fully.Last …

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FCA demands changes to unarranged overdraft fees

“Maintaining the status quo is not an option” when it comes to banks’ unarranged overdraft charges, the UK’s City watchdog has said. The Financial Conduct Authority has published its review into high-cost credit, including the affectiveness of the payday loan price cap. It said new rules for payday loan …

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Overdraft fees: Regulator says 'status quo' not an option

The “status quo is not an option” when it comes to the fees banks charge for unarranged overdrafts, the UK’s financial services regulator has said.The Financial Conduct Authority has published its report into the rules governing high-cost lending, including unarranged overdrafts, door-to-door lending and payday loans.It said new rules …

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Brexit: UK will not cut taxes, says Philip Hammond

The UK will not cut tax and regulations after Brexit in a bid to undercut EU rivals, Philip Hammond has suggested.The chancellor told French newspaper Le Monde that tax raised as a percentage of the British economy “puts us right in the middle” of European countries.”We don’t want that …

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