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Thursday newspaper round-up: Boeing, Lloyd's of London, KPMG

By Michele Maatouk

Date: Thursday 12 Dec 2019

Thursday newspaper round-up: Boeing, Lloyd's of London, KPMG

(Sharecast News) - US regulators allowed Boeing's 737 Max to keep flying even after their own analysis found the plane could have averaged one fatal crash about every two or three years without intervention. According to a report dated a month after a Lion Air 737 Max crashed in October 2018, killing 189 people, the Federal Aviation Administration (FAA) concluded the plane could become involved in more fatal crashes without design changes. - Guardian

Lloyd's of London has issued a guide to the inclusion of trans and non-binary people as part of a cultural overhaul at the insurance market after a damaging sexual harassment scandal. The 29-page document, published on the Lloyd's website, offers advice and resources to people working in insurance about how to foster a "stable emotional work environment" for trans and non-binary colleagues. - Guardian

The Federal Reserve signalled an indefinite pause on interest rates to round off a turbulent 12 months after being forced into three consecutive cuts to shore up the US economy. The US central bank's policymakers predicted a calmer 2020 as they unanimously voted to leave interest rates at 1.5 to 1.75pc in their final meeting of the year. - Telegraph

Neil Woodford's former protégé has been sacked as the manager of the £1.3 billion Edinburgh Investment Trust after a prolonged period of underperformance. The sacking deepens the turmoil surrounding Mark Barnett, the Invesco stockpicker. Last month he was forced to publicly apologise for the poor performance of two other funds he runs at Invesco after Morningstar, an influential research firm, raised concerns about the portfolios. - The Times

A Big Four accountancy firm has reported a 14 per cent fall in profits and slowing revenue growth in Britain as it prepares for greater separation of its businesses because of increased regulatory scrutiny. KPMG is feeling the pain from its decision to stop providing consulting and tax advice to all the large listed companies that it audits, after claims that the practice compromised its independence. Its bottom line has also been hit by £45 million of investment to improve its audit quality in the year to September 30. - The Times



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