Lloyds and HSBC order employees back to office, US faces shortage of accountants, Bolsonaro caught in jewelry scandal, FT's podcast on controversial Russian financer, reasons behind accounting shortage and potential solutions, impact of legislation on profession, story of Sergei Leontyev, investigation into Bolsonaro's jewelry sale
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Quick takeaways
British banks are mandating employees to work in the office to boost productivity in the upcoming busy period in capital markets.
The shortage of accountants in the US is affecting the economy, with smaller accounting firms losing clients and causing delays in filing timely accounts for organizations.
Deep dives
British banks require employees to return to the office
Starting this week, British banks, including Lloyd's, HSBC, and Citi, are mandating that employees work in the office at least two to three days a week. The move aims to boost productivity, especially for the upcoming busy period in capital markets.
Shortage of accountants impacts US economy
The United States is experiencing an accounting crisis due to a decline in the number of people taking the Certified Public Accountant Exam. This shortage is affecting the economy, with smaller accounting firms shedding clients and delaying filing timely accounts for organizations such as municipal debt issuers. Some states are considering legislative changes to address the crisis.
Controversial Russian banker's story unfolds
A new FT podcast delves into the story of Sergei Leontyev, a Russian banker who fled to the United States. He was accused by the Russian authorities of embezzlement and fraud, while Leontyev claims political persecution by the Putin regime. The podcast explores the complexities of his case and sheds light on broader issues regarding Russia's government-business dynamics.
Lloyds Banking Group joins HSBC and US group Citi in ordering employees back into the office, a shortage of accountantsis causing problems in the US and Brazil’s former president, Jair Bolsonaro, is caught up in a scandal over expensive jewellery from his time in office. Plus, the FT’s Courtney Weaver on the FT’s latest podcast series, ‘The Russian Banker’, about a controversial Russian financier who fled to the US.
The FT News Briefing is produced by Josh Gabert-Doyon, Manuela Saragosa, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.