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EY nominates vice chair for assurance as U.S. leader
The Wall Street Journal reports that EY has nominated Dante D’Egidio, currently vice chair for assurance for EY Americas, as U.S. managing partner, with partners expected to vote to approve his appointment in the coming weeks. He has held his current role since 2023, leading the Big Four firm’s efforts to reduce its auditing deficiencies….
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IEA predicts continued rise in demand for oil and gas until middle of century
The International Energy Agency (IEA) has said that global oil and gas demand may continue to increase until 2050, in contradiction of earlier predictions of a rapid shift to cleaner energy. The IEA’s latest report projects that oil demand could rise to 113m barrels per day by mid-century and highlights a significant growth in liquefied…
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Business leaders concerned over tax hikes
Senior business leaders are urging the Government to refrain from increasing employment costs in the upcoming Budget. A report by Employment Hero shows that 86% of 1,000 corporate leaders surveyed are concerned about potential tax hikes. If costs rise, 49% may raise prices, risking further inflation. Additionally, 33% would delay hiring, and 24% might consider…
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PwC cuts business-service roles
PwC is laying off around 150 employees across marketing, HR, operations and other support roles in the US, as part of a broader reorganisation aimed at boosting efficiency through AI and data. The cuts represent 1.5% of its 10,000-strong U.S. business services workforce, with more layoffs expected as process reviews continue. This follows previous rounds…
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IRS clarifies crypto reporting rules
The IRS has released guidance regarding digital asset broker reporting through the new Form 1099-DA, which will be mandatory starting with the 2025 tax year. This requirement, established under the Infrastructure Investment and Jobs Act of 2021, mandates that crypto exchanges report customer gains and losses annually. Tomer Siegal, vice president of product at Ledgible,…
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Electric vehicles face new pay-per-mile levy
In her Budget later this month, the Chancellor will announce plans to tax drivers of electric cars under a new pay-per-mile scheme set to be introduced in 2028 after a consultation. EV drivers will be charged 3p per mile on top of other road taxes. The move comes as Treasury receipts from fuel duty fall…
