Major stock market indexes in the United States ended mixed on Friday with major banks having released their third-quarter earnings during the week. The Dow Jones Industrial Average closed 0.39% higher while the Nasdaq 100 fell 0.39% as the S&P 500 remained unchanged.
Deloitte shuts four offices in the UK
Deloitte will permanently shut four offices in the United Kingdom over the next few months in an effort to cut costs amid the coronavirus pandemic, the Financial Times reported on Saturday.
According to the report, the accounting firm’s offices in Gatwick, Liverpool, Nottingham and Southampton will be closed and about 500 staff will be offered to work remotely or from other locations. Deloitte currently has 50 offices in the United Kingdom.
Moody’s Downgrades UK Ratings
Global Rating agency Moody’s has cut UK’s debt rating after Britain failed to reach a comprehensive post-Brexit trade deal with the European Union by the deadline it set itself.
On Friday, the UK Government said trade negotiations between the two sides were effectively ended by the EU when the bloc refused to “change their negotiating position” and UK Prime Minister Boris Johnson noted the country should prepare for a no-deal scenario once the transition period ends on December 31.