PwC, the global accountancy giant, has been banned in China for six months and fined $62.2 million due to its failure to identify and address severe financial issues within Evergrande. This action follows a crackdown by Chinese regulators on the firm’s work with the property developer, which has become symbolic of the country’s real estate debt crisis.
PricewaterhouseCoopers (PwC) is making significant changes, laying off approximately 1,800 employees in the U.S. as part of a restructuring plan aimed at embedding technology and streamlining operations. The layoffs, impacting 2.5% of the U.S. workforce, come amidst challenges including a slowdown in job growth and scrutiny in China. This move signifies a shift towards a more tech-focused strategy for the firm.
International Airlines Group (IAG) has made a substantial contribution to the Catalan economy, generating over €6 billion in GDP and supporting the creation of over 81,000 jobs, according to a recent study by PwC. The study highlights the significant economic impact of IAG’s operations in Catalonia, both directly through its corporate activities and indirectly through the tourism it attracts. IAG’s growth at Barcelona-El Prat airport has been particularly driven by Vueling and LEVEL, and the group is committed to innovation with the upcoming opening of an artificial intelligence laboratory in Barcelona.
