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Bitesized Blighty: December 14, 2018

Mark Rapaport

  • UK politicians have been busy this week, attempting to outdo the US in scandalous political news. After PM Theresa May realised she didn’t have the numbers to get her Brexit plan through parliament, members of her party initiated a leadership challenge, which would’ve seen her toppled as Prime Minister. She survived the challenge, and is back in Brussels this week trying to renegotiate the deal. Will she be successful? (Maybe). Will we have another referendum on whether to leave or remain in the EU? Tune in next week!
  • In a possible sign that they’re gearing up for an election, the UK Labour Party has floated the idea of breaking up the Big Four accounting firms – EY, KPMG, Deloitte and PwC. The Big Four currently audit 340 out of the top 350 listed companies in the UK, and the proposal would see that number reduced to 175 (or 50% of the FTSE 350). The industry has been hit by multiple scandals, and critics are increasingly concerned about the lack of oversight as well as the firms’ blurring the lines between their auditing and consulting work.
  • While you may already be sick of turkey for another year, we’re just getting started. Huffington Post UK has released its Best & Worst Christmas Sandwiches list for 2018. 
  • ‘Be careful what you tweet for’ is probably what crossed minds after The New York Times got more than it asked for from Londoners responding to the Newspaper’s question on twitter “Have you experienced a petty crime in London?”. The NYT’s attempt to report on rising crime in London was met with a range of responses that featured complaints about tube etiquettes, Londoner’s failure to apologise, queueing dramas, high alcohol price and many more issues, entirely typical of the capital city and its residents. It certainly makes for a humorous read! 

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