UK - Media giant News Corporation has revealed a £367m black hole in its defined benefit pension scheme.
The group – which is owned by media mogul Rupert Murdoch – said the deficit had almost doubled for the year to June compared to the 2001-02 financial year.
The group reported a 23% increase in operating profits to £1.8bn.
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.