CA daily briefing: Wednesday 12 May

Your essential briefing of the morning's top news stories.
The latest from ICAS
The Trustees of the IFRS Foundation have proposed a series of amendments to their constitution to accommodate the establishment of a new sustainability standards board.
Today's top stories from around the web
- UK economy shrank by 1.5% in first quarter (BBC News)
- London rents fall to most affordable level in a decade (City AM)
- UK economy, gearing up for recovery, grows more than expected in March (Reuters)
- Amigo Loans rescue in doubt after FCA says it will object in court (The Guardian)
- Developers to be forced to help biodiversity, but not necessarily where they build (Sky News)
- US petrol supplies tighten after Colonial Pipeline hack (BBC News)
- Brexit hit: City of London suffers £2.3 trillion derivatives loss in a single month (City AM)
- UK unveils law to fine social media firms which fail to remove online abuse (Reuters)
- US airline chiefs add to pressure for transatlantic travel to restart (The Guardian)
- New residential property rules trip up vendors (Accountancy Age)
That's all for today. Check back tomorrow for your Thursday briefing.