Thursday , August 17 2017

PwC fined $6.6mn in largest ever penalty from watchdog

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Bloomberg PricewaterhouseCoopers LLP was fined $6.6 million for misconduct over its audit of RSM Tenon Group Plc in the largest-ever sanction issued by the UK accounting regulator. The Financial Reporting Council announced the fine Wednesday, along with penalties against Nicholas Boden, a senior PwC audit partner. The misconduct related to ...

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Italian economy extends gain, boosting optimism on recovery

epa05426122 A view of the Colosseum that opened a third entrance for tourists to access the amphitheater in Rome, Italy, 15 July 2016. The new entrance allows visitors to pass through the Colosseum directly to the arena floor.  EPA/FABIO CAMPANA

Bloomberg Italy’s economic recovery extended for a tenth straight quarter, boosting optimism that growth can become sustainable this year amid a rise in industrial production. Gross domestic product expanded 0.4 percent in the three months through June, the same as in the first quarter, Rome-based statistics agency Istat said in ...

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From Alibaba to China Life join Unicom’s $11.7bn stake sale

epa05473374 (FILE) A file photo dated 20 June 2012 showing employees inside Alibaba headquarters in Hangzhou, China. Alibaba Group Holding Limited on 11 August 2016 announced its  financial results for the quarter ended 30 June 2016, saying 'Alibaba Group had an outstanding quarter with a 59 per cent revenue growth for the company overall and a 49 per cent revenue growth of their China retail marketplaces'.  EPA/QILAI SHEN

Bloomberg Companies from Alibaba Group Holding Ltd. to China Life Insurance Co. will participate in a $11.7 billion share sale by China’s second-largest wireless carrier as part of a government push to draw private capital into its state-owned enterprises. According to the plan, investors including Tencent Holdings Ltd. and Baidu ...

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