FT News Briefing A final goodbye to EY’s Project Everest?
Jun 28, 2024
The U.S. is bringing together foreign ministers from Israel and Arab countries for a NATO summit amid ongoing tensions. Meanwhile, EY's ambitious Project Everest has been shelved, prompting a new strategy focused on internal unity. Thames Water faces a looming financial disaster due to its ageing infrastructure, raising public safety concerns. The podcast also delves into the UK election landscape, highlighting the immigration debate and varying strategies of the Labour and Conservative parties, reflecting the public's distrust in political promises.
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EY Cancels Split
- EY CEO Janet Truncale confirmed the firm will not split its audit and consulting businesses.
- The "Project Everest" split aimed to alleviate conflict-of-interest issues but faced internal disagreements.
Thames Water Issues
- Thames Water acknowledges its aging infrastructure poses risks to public safety, water supply, and the environment.
- The company seeks a nearly 60% bill increase to fund necessary upgrades and address issues like outdated processing plants.
UK Election Focus: Migration
- UK Prime Minister Rishi Sunak and Labour leader Keir Starmer prioritize migration in the upcoming election.
- Both parties pledge to reduce both legal and illegal migration, addressing public concerns about rising numbers.