KPMG warned Guggenheim Partners about weak internal controls last year, identifying strains in Mark Walter's empire months before a US federal probe into his insurance holdings became public. The Big Four auditor identified shortcomings linked to how a subsidiary of Guggenheim's $367 billion asset manager recognized hundreds of millions in revenue, according to people familiar with the matter. The assessment came after a whistleblower flagged concerns about the unit's accounting practices. Pressure has been mounting on Walter's businesses since insurers controlled by the billionaire revealed in June they had loaned billions to other parts of his empire while misclassifying those loans in regulatory filings. US prosecutors are probing the insurers, owned by Walter's holding company TWG Global. The scrutiny comes as Walter, Guggenheim's chief executive with business interests including the Los Angeles Dodgers and Chelsea Football Club, seeks to raise cash.

The Dutch central bank moved more than 78 tonnes of gold from New York to London, citing increasing geopolitical unrest. A federal judge ruled Google will not have to divest crucial parts of its digital advertising arm, rejecting the US Department of Justice's argument for a forced sale. Global groups including Volkswagen, Tesla, Nokia, and Amazon have named businesses blacklisted by western authorities as potentially present in their supply chains. Magdalena Andersson aims to make Sweden a pioneer of green industry after struggles in batteries and steel.

UK business secretary Jonathan Reynolds is seeking to quash speculation about an exit tax for companies moving abroad after spinning out of British universities.