Evergrande’s endgame
- Date: 10-Dec-2021
- Source: Financial Times
- Sector:Economy
- Country:Middle East
Evergrande’s endgame
This is an audio transcript of the FT News Briefing podcast episode: Evergrande’s endgame
Marc FilippinoGood morning from the Financial Times. Today is Thursday, December 9th, and this is your FT News Briefing.
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The Big Four accounting firms have tallied big revenues, thanks in part to the pandemic, and Apple’s privacy policy doesn’t totally keep user data private. Plus, the indebted Chinese real estate giant Evergrande is now in government hands. How will Beijing minimise the damage?
Tom Mitchell Governments never had to oversee the debt workout of a company like this. Evergrande’s liabilities are upwards of $300 billion.
Marc Filippino I’m Marc Filippino, and here’s the news you need to start your day.
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The Big Four accounting firms have posted their strongest financial performance since the accounting scandal that led to Enron’s collapse nearly 20 years ago. KPMG, Deloitte, EY and PwC collectively posted nearly $170 billion in revenues for this financial year, and driving that growth was a lot of companies turning to consultants at the Big Four during the pandemic. Here’s FT accountancy correspondent Michael O’Dwyer.
Michael O’Dwyer They needed help with digital transformation, getting their businesses and their employees up and running online. On top of that, you had a
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