FT News Briefing PwC’s Evergrande audit comes back to bite
May 22, 2024
The UK’s deputy PM made a secret trip to the UAE as diplomatic relations improve. PwC faces penalties linked to its audit of the troubled Evergrande, raising questions about its practices. Traders are bracing for volatility in Nvidia shares ahead of crucial earnings reports. The EU's trade deficit with China is shrinking, reflecting changing economic dynamics. Meanwhile, a scandal in the European Parliament raises serious concerns about corruption and foreign influence on democracy.
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PwC's Evergrande Audit Scrutiny
- PwC faces scrutiny for its audits of Evergrande, a Chinese property company.
- Chinese authorities investigate PwC's role in Evergrande's collapse, raising concerns about accounting irregularities.
NVIDIA's Volatility and Market Impact
- NVIDIA's upcoming earnings release creates anticipation for significant stock price swings.
- The company's importance to the market and its volatility make its performance crucial for investors.
Navigating a Market Driven by Few Companies
- Diversify investments across a portfolio to manage risk, even if tempted to focus on high-performing stocks like NVIDIA.
- Balancing risk is important, even if it means potentially missing out on some gains from top-performing companies.