When news broke last year that EY was planning to split its businesses, it was seen as a move that could reshape the accounting industry. The bold plan was given an equally grand name, “Project Everest”. But after months of negotiations from within the firm, and despite the support of the global leadership, the plan recently fell apart. FT’s US accounting editor Stephen Foley and accountancy correspondent Michael O’Dwyer explain why that shakeup didn’t happen.  - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: EY risks paralysis and a power vacuum after break-up failure Julie Boland: the EY leader in the middle of a ‘civil war’ EY to cut 3,000 jobs in US to eliminate ‘overcapacity’ EY: embarrassing climbdown calls future strategy into question - - - - - - - - - - - - - - - - - - - - - - - - - -  On Twitter, follow Stephen Foley (@stephenfoley) and Michael O’Dwyer (@_MODwyer) Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

This week, we’re bringing you something from our fellow podcast, FT Weekend. The show travels to Miami, Florida, to drink some beers, place some bets, and discover how AI is changing the sport of horse racing. FT data journalist Oliver Roeder joins FTW host Lilah Raptopoulos to talk about how the ancient sport is being upended by anonymous computer-assisted bets. These secretive gamblers are injecting billions of dollars into the pools, and aggressively tipping the odds, and it’s putting the whole sport at risk. - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: I used AI to bet on horse-racing. Here’s what happened Stake.com: the Aussie gambling minnow that made it big on crypto  How English football became hooked on gambling - - - - - - - - - - - - - - - - - - - - - - - - - -  On Twitter, follow Oliver Roeder (@ollie) and Lilah Raptopoulos (@lilahrap) Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.