@stephenfoley

US Accounting Editor at the @FT

 New York, NY
ft.com/stephen-foley
Joined August 2009
  • Tweets10.6K
  • Following1.6K
  • Followers9K
1.3KMedia
Follow me on LinkedIn. Pausing posts on other social media sites for the time being. linkedin.com/in/stephen-fole…
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"They’re not all sad. They’re not all kicking themselves. This is the business if you do single-B risk." First Brands financier says ‘a lot of people made a lot of money’ from bankrupt group. Story w/ @EricGPlatt @JBSteins @BondHack ft.com/content/40e93423-b551…

First Brands financier says ‘a lot of people made a lot of money’ from bankrupt group

Head of trade finance provider says some lenders made out handsomely before car parts company imploded

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The law firm that represented Sam Bankman-Fried and Ghislaine Maxwell bids to become one of the first in the U.S. to take private equity investment. Scoop with @kayewiggins ft.com/content/9487e94f-fa82…

Law firm Cohen & Gresser in talks to sell stake to private equity

New York group that represented Sam Bankman-Fried and Ghislaine Maxwell would be among first to bring in investors

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PwC has flagged the WHSmith profit overstatement to the UK’s accounting watchdog, which is now weighing whether to launch an investigation of the auditor. Story by @elleshevakissin & @AArmstrong_says ft.com/content/acbfa63d-3371…

Watchdog weighs probe of PwC over WHSmith profit overstatement

Revenue errors in retailer’s accounts prompt latest scrutiny of Big Four accounting firm’s audits

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Will private equity be able to buy big US law firms, and who will be the first to sell? The boss of a top 20 law firm tells the @FT: “We are constantly approached and we always listen to new ideas.” Scoop with @kayewiggins @AntoineGara & @mroliverbarnes ft.com/content/3a9d3c27-a692…

US law firm McDermott Will & Schulte weighs sector’s first private equity tie-up

Novel restructuring by one of the country’s biggest legal practices could test ethics rules

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Miami realtors pitch safe spaces for millionaires fleeing Mamdani’s New York. Nice, balanced reporting here by @zehra_munir ft.com/content/eef9fa26-1f18…

Miami realtors pitch safe spaces for millionaires fleeing Mamdani’s New York

A predicted flight caused by democratic socialist mayoral candidate’s likely victory on Tuesday has yet to materialise

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There's always a rap video! Absolute must-read here on how a flashy Utah leasing firm came to be lending billions to First Brands: ft.com/content/f0aefc14-680d… Sensational details uncovered by @jillrshah @EricGPlatt @BondHack Ortenca Aliaj & @ameliajpollard youtube.com/watch?v=rfZGq6yo…

The flashy Utah-based leasing firm that lent billions to First Brands

Onset Financial called itself a ‘dominant force’ in financing everything from chickens to helicopters. It ended up as First Brands’ biggest creditor

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The last time I went into my local Chipotle, it had managed to run out of brown rice and chicken. Possible the sales decline is nothing to do with macroeconomic pressures?
The Transcript
@TheTranscript_29 Oct 2025
Chipotle cuts same-store sales forecast for third straight quarter CEO: "...we continue to see persistent macroeconomic pressures..." $CMG: -3% AH
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Does $56,968mn round to $56.9bn or $57.0bn? Asking for an accounting firm. pwc.com/gx/en/news-room/pres…

PwC global revenues rise to US$56.9 billion

For the 12 months ending 30 June 2025, PwC firms around the world reported record gross revenues of US$56.9 billion, growing by 2.7% in local currency and 2.9% in US dollars over the FY24 gross...

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RSM creates US-UK accounting tie-up. . . and says other firms in network can join. Story w/ @elleshevakissin. Read our exclusive interview with the CEOs below. ft.com/content/91ba7189-b083…

RSM creates US-UK accounting tie-up and says other firms in network can join

Transatlantic partnership pitched as alternative to bringing in private equity capital

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BDO chief pledges to fight ‘falsehoods’ on First Brands work, says auditor may face years of scrutiny but will take ‘decisive action to protect our reputation’ ft.com/content/9b618c6c-ea4b…

BDO chief pledges fight over ‘falsehoods’ on First Brands work

Firm leader says auditor may face years of scrutiny and will take ‘decisive action to protect our reputation’

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Does the fact that Netflix shares went down 6% tonight and not on August 13, when the Brazilian Supreme Court ruled on the tax matter in dispute, imply that the company's disclosures were incomplete or not understood by investors? $NFLX ft.com/content/3fbacca3-0b93…

Netflix shares drop as Brazil tax dispute hits profits

Streaming group reports strong revenue growth because of success of films such as ‘KPop Demon Hunters’

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Deloitte to pay $34mn over audit work on US nuclear fiasco ft.com/content/f9fc0a78-ff10…

Deloitte to pay $34mn over audit work on US nuclear fiasco

Former shareholders in utility said Big Four firm failed to spot red flags and allowed management to hide mounting issues

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The secretive First Brands founder, his $12bn debt and the future of private credit Great new detail in this from @BondHack, Ortenca Aliaj & @EricGPlatt ft.com/content/83734e55-f3a6…

The secretive First Brands founder, his $12bn debt and the future of private credit

Patrick James borrowed billions — even after presiding over a string of failed businesses

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Chris Hohn’s foundation blames ‘policy environment’ as it stops giving to US charities Story by @joshspero, @CostasMourselas, @JoeMillerJr & Toby Nangle ft.com/content/b87fb34e-40d6…

Chris Hohn’s foundation blames ‘policy environment’ as it stops giving to US charities

Billionaire hedge fund manager’s CIFF has focused donations on issues such as climate change

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Stephen Foley retweeted
Finance News
@ftfinancenews6 Oct 2025
EY narrows US leadership race to three candidates on.ft.com/4mNy005

EY narrows US leadership race to three candidates

Big Four accountancy firm tries to move past turmoil triggered by abandoned split

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“The future of consulting is going to be a hybrid of people plus software — like, a lot of software.” Consultancies must become software companies to survive AI boom, says @IBM executive ft.com/content/8535fd82-713b…

Consultancies must become software companies to survive AI boom, IBM executive says

Industry hopes artificial intelligence implementation will reverse two-year period of sluggish growth

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👀 How Jefferies earned undisclosed fees on First Brands financing. Another @EricGPlatt, @BondHack, Ortenca Aliaj scoop: ft.com/content/fe7cb4e3-71a1…
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We did a pun. "Shell out more." Tariffs on India have sent US shrimp prices soaring, reports @TaylorNRogers ft.com/content/3cf34904-5345…

Trump tariffs push up prices for Americans’ favourite seafood

Wholesale shrimp costs have jumped 21% since president imposed levies on India

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Um, what? Spotted by @kayewiggins in sentencing docs, convicted moguls Sean Combs and Miles Guo have been chatting about setting up an AI platform after they get out of jail ft.com/content/1ef89fb5-c243…

Convicted moguls Sean Combs and Miles Guo ponder AI platform after jail

Chinese businessman tells judge ahead of rapper’s sentencing hearing they ‘sleep right across from each other’ in Brooklyn jail

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