linda ellett is uk head of consumer markets for kpmg.styles and in to vote —— my individual basis, does it affect the economy? as you have said, we surveyed individuals across britain to ask them how brexit uncertainty has changed their spending habits. one in three have changed their spending habits and most interestingly to me is that nearly one in two of londoners and young people have changed their spending habits. so it is certainly having effect on individuals. we are seeing it as changing the way people spend their money, they are putting up big ticket items, putting a holidays, renovation, putting money aside but not putting money aside into investments, putting money into savings so they have that pot available depending on what happens in the future. but do you think it is having an economic effect?m in the future. but do you think it is having an economic effect? it is having an economic effect in terms of the way people are spending their money. i think businesses that have a great consumer proposition and are running their b

according to the british retail consortium and the accountancy firm kpmg, a "challenging retail environmentl on both the high street and online. the uk's data privacy chief, elizabeth denham, has issued a warning over facebook‘s proposed digital currency, the libra. denham, who runs the information commissioner's office, has signed a statement alongside counterparts in the us, canada, australia and the european union. the statement said they have "shared concerns" over "privacy risks posed". and strike action planned at heathrow airport on tuesday has been called off after the airport group and the union unite reached a deal over pay. workers had planned to walk out on both monday and tuesday in a row over wages. would you take your children to work? sharmaden reid, founder of the tech start—up beautystack, decided she wanted to offer childcare to her employees, but on her own terms. here's her advice on running a modern company, part of our series this week focusing on young ceos. ijust thought, i just thought, what would ijust thought, what would i have wa nted ijust thought, what would i

you can put ge and kpmg into google right now, and you can read about various unions and other groupsave come in and said, look, there's a lot of accounting fraud mr. markopolos is like the 125th person to raise accounting problems with general electric if i had money in general electric personally i would probably be out of it. i think you ought to be very cautious it's dangerous >> that said, final word >> i just want to say one thing. we've done a lot of work on a company called lab tech. that was a tiny part of general electric transportation. what we're intrigued with when we did the work and tried to untangle it and my partner who is one of the great forensics out there, they were pulling their hair out because when they were looking at general electric transportation, it was like a black box. they were having trouble figuring it out. and we found inconsistencies in numbers that we couldn't get lab tech to answer as it related to general electric transportation. so there's so much there that, you know, we all know he's on to something, you don't know what it is. it's a great one

answer is obviously to hug these corporations close, and corporations are hugging right back: google, kpmgaetna, lyft-- not chick-fil-a-- and here comes the true slay queen, walmart. [all cheering] is walmart gay? - walmart does take pride in their gay associates. as a company, i don't think you can label a company with a sexual orientation. - walmart seems like a top to me. - i--i would--i would agree with that. - i think it's amazing that so many people could come out and just live their truth as a marketable demographic. - for sure, and they've really made it, like, a safe for everybody, i think, for us too, so... - yeah, yeah, yeah, 100%. it's like, "here i am. i'm queer. i have a debit card." - everyone's gay as hell now. and gays love money, bitch. you know that, so... - so queer capitalism is totally chill. actually, there is a specific issue with corporate sponsorship in pittsburgh, and it involves the f-word. no, not that. fracking. - there's a lot of corporations that are seemingly buying. last year, this march was called the eqt equality march. eqt doesn't stand for equality. it

justin benson is from kpmg, an independent brexit expert. much of an impact would no—deal brexit have on the food industry? there are three things. you mentioned the currency, there is the tariffs and the delays at the border. after currency at the moment it is the delays that are the biggest issue. you can change the supply chain in the food business but about 60% of the goods from this market come from the european union. that is a plus and a negative. they could be delayed, but you have got a lot of suppliers in the european union who want to supply this marketplace. it is a two—way street. it certainly is. there has been some discussion about whether the food industry could get together and waive competition laws in order to secure oui’ waive competition laws in order to secure our food chain. waive competition laws in order to secure ourfood chain. whether or not the government will listen to that will be anyone's guess, but plenty more preparations ahead. you're watching business live — our top story... as the october the 31st deadline

a recent poll from kpmg ranked the country as the third most dynamic global centre of innovation and alone there were around 5.6 million small businesses in the uk — creating new ideas and designs. and our next guest is one of them. he and his team create everything from jewellery to furniture and for individuals and global brands. patrick laing is the director of design studio patrick laing design. he's with us now. good morning. how did this all begin because you are extremely established with clients all over the world. but right at the beginning how did you get seriously established? when i graduated all the businesses i wanted to work for required two years experience. which idid not required two years experience. which i did not have. so i began resolving clothing rails for businesses that we re clothing rails for businesses that were selling their garments to buyers for international stores and then from that i began to get a reputation as someone who could resolve with a bit of style does problems for people and it gradually moved into a shop window display and then stores. s

administrators kpmg closed the vast majority of jamie oliver's 25 restaurants, leading to around 1,000logised after an image on one of its t—shirts appeared to imply hong kong and macau were independent territories. after fierce criticism on social media in china, versace said it had made a mistake and had stopped selling the tops. china has been increasingly strict in policing how foreign firms describe hong kong, which is part of china but has a special status, giving it greater autonomy. the ftse 100 shed all of its early gains on monday. asia—focused shares dropped over worries about the hong kong protests. that's affected companies like hsbc and standard chartered which do a lot of business in the region. shares of rolls—royce, which supplies engines to plane—maker boeing, also weighed on the index after media reports that fragments of an engine fell from a norwegian boeing 787 dreamliner near rome. meanwhile tour company thomas cook plunged after admitting that its plan to raise more money will dilute existing shareholders' stakes. talking of holidays, it is wonderful to have you

she is a chief economist at kpmg in new york.he is also president of the national association for business economics. welcome. me.hank you for having kathleen: what do you think jay powell's mood is? there is so much talk that he is under pressure. >> opening the door to a rate cut he has to signal he will go through. >> i think there's pressure from several sources. there's pressure from the bond market, for sure. desks talk to major bond in new york, you definitely got the sense the bond market was going to force the fed's hand because it a not move, you would see this snap back in yields, which would really negate some of the job owning that was done when they change their stance from three rate hikes to the pause. some people have said there's pressure from the white house, though i don't think jay powell for thembing at all first time. i think the minutes revealed deep is so much conversation about this. the fed is not monolithic. there is not groupthink. there is serious debate, so that also believes some of the pressure, i

number of companies, but from employee letters that have been sent to their workers from the likes of kpmge-waterhouse, cooperstown and others. this is in the latest story this morning. you can see it on the terminal. as issued directive to employees, don't speak to the public. p.w.c. sent a similar message, to avoid disclosing anything about the company on social media. new marching order. cathay pacific is a prime example of how this came back to bite them. the chairman was quoted as saying before all this happened that he wouldn't imagine thinking telling his employees how to think, restrictions on freedom of speech. clearly now that the c.e.o. has been let go, merlin, the chairman of swire pacific was summoned to bengal for what i am sure was knuckle rapping, kathay leena -- and pacific put out the directive that they support the hong kong government and they are going to hand over the information of the flight plan fests, the crew manifests to china because china basically says they don't want any employees on cathay pacific flights, pilots or flight crew who supported the protests in

as chief economist at kpmg, i am sure you have done a lot of work on this.on no deal impacts at the weekend. what is your current thinking about best and worst case analysis of the impact of a no deal in october the 31st? the first thing to bear in mind is that there are still quite a few unknown unknowns where we don't know what will happen. but bearing that in mind and looking at the estimated numbers of damages, for example from the obr, we could expect gdp to contract by 1.596 we could expect gdp to contract by 1.5% next year if we had a no deal. that is the calculation of the obr. and the economy would gradually recover on the back of it. obviously, the initial impact would be around the exchange rate. we could see the pound falling by about 10% straightaway. that is a big job. are you saying it would stay 10% below, or would it recover? it could below, or would it recover? it could be the low that we would gradually see a recovery from as the situation settles. thank you for your expertise. a body has been found by members of the emergency services sea

firms like kpmg telling staff not to speak on behalf of the company in public and expressing support of china's governing policy. hsbc, which gets more than half of its pretax profit from hong kong, is trying to stay neutral, but did call for a peaceful resolution to the crisis and condemning "violence of any kind it makes it one of the first global banks to publicly address the crisis. now it is starting to actually feed materially into earnings, etc. luke: what we've got is analysts calling for a 19% slump in profits for hong kong companies this year. that would be the worst since the financial crisis. a lot of this does have to do with them citing some of the effects of the protests. for instance, you are not going to go to eat, people are not hotels. come stay in you are seeing that filtered through, and some strategists are saying we don't just need a trade war resolution. we need this political stability to reassert itself. alix: and some airlines just not working at all and hong kong. we are going to do that over the next few months, take the capacity out, and the anticipation