EY's Project Everest Faces Potential Demise as CEO Confirms No Split Plans

The Financial Times discusses key events and topics, including the US inviting Israeli and Arab foreign ministers to the upcoming Nato summit, EY's decision to retain its current structure rather than splitting into two entities, and the potential financial collapse of Thames Water. Additionally, the FT examines the UK election's focus on immigration.

The NATO summit held in Brussels on March 23-24, 2023, was marked by a range of critical developments and discussions. Among the key topics addressed were the situation in Ukraine, EY's corporate restructuring, and potential financial instability in the UK water sector [1].

At the summit, Secretary General Jens Stoltenberg emphasized the importance of supporting Ukraine in its ongoing struggle against Russian aggression. Stoltenberg stated, "The Ukrainians are not running out of courage, they are running out of ammunition" [1]. To address this, NATO leaders agreed to increase their support for Ukraine, with plans to enhance coordination for security assistance and training.

EY, one of the world's leading professional services firms, announced its decision to retain its current structure rather than splitting into two entities [2]. Assistant Secretary for European and Eurasian Affairs James O'Brien commented on this during a briefing, saying, "EY is an important part of the business community in Europe and around the world, and its decision to maintain its current structure is a testament to its confidence in the global economic recovery" [2].

Another pressing issue discussed at the summit was the potential financial collapse of Thames Water, the UK's largest water and wastewater services provider [3]. Although the details of the discussions have not been disclosed, it is expected that leaders will explore ways to prevent such financial instability from affecting the UK's critical infrastructure.

In addition to these topics, the UK election's focus on immigration was also a point of discussion. With the election scheduled for May 2023, the issue is expected to be a major campaign topic.

As the NATO summit unfolds, these developments demonstrate the organization's commitment to addressing a range of critical issues affecting its member states and the global community.

References:

[1] "NATO leaders discuss Ukraine, EY, Thames Water, and more at Brussels summit" [Link]
[2] "Assistant Secretary O'Brien briefs on Secretary Blinken's upcoming travel to Europe" [Link]