Shares in International Airlines Group, which owns airlines including British Airways, fell by 14 percent on 26 November after new COVID variant Omicron triggered restrictions on travel from southern African countries.
2,000
Number of new jobs PwC will create in Greater China over the next five years, doubling its workforce in the region as part of a US$1.25 billion investment. PwC’s plan is part of its New Equation global initiative aimed at creating 100,000 jobs globally.
2.8 million yuan
The amount Tenpay, an online-payment unit of Tencent Holdings, was fined for violating foreign exchange rules, according to the State Administration of Foreign Exchange branch in Shenzhen.
“Capital markets can have an essential role to play in reaching net zero. But that can only happen when sustainability information is produced with the same rigour, assurance of quality and global comparability as financial information.”
– Erkki Liikanen, Chair of the IFRS Foundation Trustees, during his speech at COP26 on 3 November. He announced the formation of a new International Sustainability Standards Board to develop high-quality sustainability disclosure standards.
eCode 2.0
The enhanced version of the eCode, a digital tool to access and navigate the International Code of Ethics for Professional Accountants, has been launched. More details on Technical News.
49%
The percentage of the 43 initial public offerings that raised US$1 billion or more this year in London, Hong Kong, Mumbai and New York trading below their issuance prices, according to Dealogic data.
US$17.2 billion
Value of Nissan’s vehicle electrification plan, as the Japanese carmaker seeks to dominate the electric cars market. Nissan’s plan includes the proposed introduction of 23 electrified vehicle models by 2030, 15 of them fully electric.
US$94 million
The annual fee for auditing HSBC. The heads of the bank in London invited the Big Four to tender, following the end of PwC’s contract after 10 years in 2025, but found the firms were reluctant to bid for the bank’s audits, according to the Financial Times. The role will last 10 years, but a number of firms are concerned with the resources required, the report said.
Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities
Title of the International Auditing and Assurance Standards Board exposure draft. The Institute is seeking comments on it by 31 December. More details on Technical News.
