FirstFT: PwC to send UK partner to run scandal-hit China business

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Also in today’s newsletter, weak China prices boost deflation fears and Bangladesh warned over ‘unsustainable’ debt due to Adani

Good morning. Today we’re covering: But we start with an exclusive story on PwC: the Big Four firm is set to parachute in a senior partner from the UK to run its China business, as the fallout from its audit of collapsed property developer Evergrande continues to mount. The accounting firm’s global leaders have tapped Hemione Hudson, a runner-up in the race earlier this year to lead PwC UK, to lead the scandal-hit China business, according to people familiar with the matter.

India’s Adani Group has warned Bangladesh’s new government that its backlog of overdue payments has become “unsustainable”, as the country falls $500mn behind on dues from a contentious power project. The costly deals negotiated under Sheikh Hasina have left the interim government “firefighting”, said the country’s top energy official. 4.

 

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