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Stephen Foley

US Accounting Editor

Stephen Foley covers the accounting and consulting industries in the US and globally, including the activities of the Big Four and the MBB firms (McKinsey, BCG, and Bain). Since joining the Financial Times in New York in 2012, he has held positions including markets correspondent, US investment correspondent and deputy US news editor. He was also business editor of Nikkei Asia, the FT’s sister publication.

Stephen previously worked at The Independent in London and New York and was named business journalist of the year at the 2009 British Press Awards for his coverage of the financial crisis.

Email Stephen Foley @stephenfoley  on Twitter (link opens in a new browser window)
  • Tuesday, 27 May, 2025
    McKinsey
    McKinsey sheds 10% of staff in 2-year profitability drive

    Shrinking headcount at consultancy firm contrasts with increased hiring at rival BCG

    The McKinsey stand on day three of the Mobile World Congress
  • Friday, 23 May, 2025
    Booz Allen Hamilton Holding Corp
    Booz Allen axes 2,500 jobs as Trump’s spending cuts hit earnings

    Consulting group’s shares slide after forecast of lower than expected profits

    Aerial view of the Pentagon
  • Thursday, 22 May, 2025
    McKinsey
    Former McKinsey partner jailed for deleting emails on US opioid work

    Martin Elling to serve six months in prison after admitting to destroying documents related to efforts to boost sales

    The logo of McKinsey & Company
  • Tuesday, 20 May, 2025
    US financial regulation
    Top US state Republicans urge SEC to consider delisting Chinese companies

    Letter asks regulator to protect American investors from opaque Chinese reporting policies

    The US Securities and Exchange Commission headquarters in Washington
  • Thursday, 15 May, 2025
    EY
    EY delays start dates for consulting recruits for third year in a row

    Decision comes as Big Four group grapples with ‘uncertain’ market conditions

    Pedestrians walk past the EY office building in London
  • Thursday, 15 May, 2025
    US financial regulation
    German regulator ‘bewildered’ by US plan to scrap audit overseer

    Berlin says Republican proposal to shut the PCAOB threatens international co-operation

    Erica Williams
  • Thursday, 15 May, 2025
    FTI Consulting Inc
    FTI Consulting loses European rainmakers to upstart rival

    Jon Orszag’s Econic widens poaching effort from his former firm that has driven up pay for expert witnesses

  • Wednesday, 14 May, 2025
    News in-depthWorld Economic Forum
    Downfall in Davos: Klaus Schwab fights for legacy after WEF whistleblower claims

    Ousted head of World Economic Forum battles impropriety allegations and second probe into his conduct in a year

    A montage of Klaus Schwab speaking, set against a World Economic Forum logo
  • Tuesday, 13 May, 2025
    Business InsightTax
    The tax IOU problem lurking in company accounts

    Shareholders need to examine how groups account for controversial tax positions

    The Coca-Cola logo adorns the side of a delivery truck
  • Monday, 12 May, 2025
    Legal services
    Push by private equity and Big Four into law sparks California backlash

    Proposed legislation in Sacramento aims to disrupt liberalisation of US legal market

    Senators work at their desks at the Capitol in Sacramento, California
  • Saturday, 10 May, 2025
    Uber Technologies Inc
    Uber wins multimillion-pound reprieve on disputed UK tax payments

    HMRC has stopped demanding ridesharing company pay VAT on the full cost of rides after legal setback in related matter

    A driver uses the Uber ride-hailing service smartphone app to complete a passenger drop-off in London
  • Monday, 5 May, 2025
    PwC
    PwC to slash 1,500 US jobs

    Move comes as Big Four accounting firm struggles with low staff turnover

    The PwC logo seen through a window
  • Sunday, 4 May, 2025
    News in-depthBerkshire Hathaway Inc
    Mission impossible? Abel’s tricky task leading Berkshire after Buffett

    Handpicked successor inherits record cash pile — but will be scrutinised more than ‘Oracle of Omaha’

    Montage of Greg Abel and Warren Buffett over a Berkshire Hathaway logo
  • Saturday, 3 May, 2025
    Warren Buffett
    Warren Buffett to step down from Berkshire Hathaway after six decades

    ‘Oracle of Omaha’ announces plans to retire from his sprawling conglomerate at historic annual meeting

    Warren Buffett
  • Saturday, 3 May, 2025
    Berkshire Hathaway Inc
    Buffett sells stocks for 10th quarter in a row

    Veteran investor says ‘trade should not be a weapon’ in dig at Donald Trump’s tariffs policy

    Shareholders at Berkshire Hathaway’s annual meeting prepare to hear from Warren Buffett
  • Thursday, 1 May, 2025
    US financial regulation
    US watchdog says plan to axe agency would damage global audit quality

    Chair of accounting regulator says proposal would upend agreements for inspections in countries from China to the EU

    PCAOB chair Erica Williams
  • Tuesday, 29 April, 2025
    Trump Media & Technology Group
    Trump Media auditor says it was wrongly booted from US accountancy group

    Semple, Marchal & Cooper’s decision to take Donald Trump’s company as a client led to showdown, lawsuit claims

    A BDO logo
  • Monday, 28 April, 2025
    IPOs
    Revived Andersen tax and advisory firm files to pursue US stock listing

    Offering will test investor appetite for professional services firms amid chill in new listings

    Mark Vorsatz
  • Saturday, 26 April, 2025
    US financial regulation
    Republicans plan to scrap US audit regulator

    Proposal to fold the Public Company Accounting Oversight Board into the SEC will boost Donald Trump’s deregulatory agenda

    Erica Williams, chair of the Public Company Accounting Oversight Board
  • Friday, 25 April, 2025
    PwC
    PwC partners ordered to cut ties with brokerage after internal investigation

    Ruling alarms senior executives of the accountancy, who touted their access to lucrative and hard-to-find investments

    Pwc office in Boston
  • Thursday, 24 April, 2025
    Accounting & Consulting services
    Former EY and PwC bosses launch UK boutique targeting Big Four clients

    Unity Advisory has private equity backing to establish rival accounting and consulting firm

    Steve Varley
  • Wednesday, 23 April, 2025
    Klaus Schwab
    Davos founder accused of manipulating World Economic Forum research

    Klaus Schwab denies whistleblower claims and says he is the victim of ‘character assassination’

    Klaus Schwab first developed the WEF’s global competitiveness report in 1979
  • Wednesday, 23 April, 2025
    Grant Thornton International Ltd
    Grant Thornton US goes global in private equity-backed buying spree

    Accountancy group plans to buy more than half a dozen sister firms in PE-fuelled spree across Europe and Middle East

    Grant Thornton offices
  • Tuesday, 22 April, 2025
    Klaus Schwab
    Davos founder Klaus Schwab faces whistleblower investigation

    Fresh claims follow allegations last year that the chair presided over a toxic workplace culture at the organisation

    World Economic Forum founder and chair Klaus Schwab gives welcoming remarks at the 55th annual World Economic Forum meeting in Davos, Switzerland, January 21, 2025
  • Wednesday, 16 April, 2025
    PwC
    PwC exits more than a dozen countries in push to avoid scandals

    African firms say they lost over a third of their business as global executives forced them to drop risky clients

    The PwC logo
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