GLOBAL - Computer giant IBM has bought Pricewaterhouse-Coopers' consulting business for US$3.5bn (£2.2bn) in cash and stock.
PwC Consulting will be merged with IBM’s own consulting business, Business Innovation Services.
The deal ends PwC’s plans to float its consulting arm, which it had spent £75m rebranding with the name Monday, on the stock market.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.