Global economy & markets
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Sri Lanka expected to hold rates, focus on IMF bailout
A Reuters poll of economists forecasts interest rates will remain unchanged at tomorrow’s policy announcement by the Central Bank of Sri Lanka.
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Chancellor outlines help for business rate payers
UK Chancellor Jeremy Hunt announced help on business rates, including extended relief for retail, hospitality, and leisure businesses.
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IAASB releases IAS 1 guidance; EU adopts sustainability directive
Read a roundup of the latest developments in corporate reporting, including an update on IFRS 17.
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G20 watchdog says bank climate stress tests may understate exposures
Many of the tests do not capture 'second round' effects, or impact on banks of climate change hitting the wider economy, the Financial Stability Board found.
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IFAC releases review of corporate disclosures on emissions
The International Federation of Accountants released “Getting to Net Zero,” a global review of corporate disclosures on emissions targets, analysing the disclosure trends and transition plans of the 40 largest exchange-listed companies in 15 jurisdictions, at the beginning of COP27.
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COP27: Major food companies detail plans to eliminate deforestation by 2025
The road map launched at the COP27 climate summit in Egypt involves 14 food companies ending deforestation in their supply chains to limit global warming to 1.5 degrees Celsius.
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European countries back weakened fossil fuel financing pledge
Ten nations agreed to report on how the pledge to stop funding for overseas fossil fuel projects will be applied to their export credit agencies.
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UK FRC reiterates need for reliable information in corporate reports
The regulator says that in times of economic uncertainty, companies should continually assess evolving risks and ensure those risks are clearly explained.
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Global firms urge governments to require mandatory disclosures on nature
Signatories to the COP15 business statement have combined annual revenues of more than $1.5 trillion.
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UK chancellor announces reversal on corporate tax, other measures
Jeremy Hunt says that, for now, the government will not proceed with previously announced plans to keep the corporate rate at 19% for some businesses.
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