Brexit-backer Arron Banks wins appeal in Carole Cadwalladr libel case February 28, 2023 Brexit-backer Arron Banks has won an appeal in his libel lawsuit against investigative journalist Carole Cadwalladr. The UK’s Court of Appeal today said Cadwalladr should pay libel damages to Banks over claims she made in a 2019 Ted Talk concerning the Brexit campaigner’s purported links to Russia. Today’s decision saw the Court of Appeal overturn [...]
Pay for top City lawyers surged to £740,000 as most firms cashed in on Covid profits February 28, 2023 Top City lawyers saw their annual payouts surge in 2022, as a boom in demand for legal services bolstered the sector’s profits. Partners in City law firms saw their annual payouts increase by 15 per cent, to £738,728, as Covid-19 drove a boom in legal sector revenues, new Crowe research shows. The higher payouts [...]
Serco’s revenues surge as UK ‘immigration contracts’ offset a tumble in Covid testing work February 28, 2023 British contractor Serco said its revenues continued to grow in 2022 as surging UK government demand for its ‘immigration services’ offset a drop in Covid-related work. Serco said its overall revenues increased by £109m to £4.53bn in 2022, despite a £480m drop in income from work surrounding Covid-19. Higher revenues from Serco’s businesses running [...]
Former Met police detective sues ex-City lawyer over ENRC hacking claims February 27, 2023 A former Metropolitan police officer has accused an ex-City lawyer of trying to hack his emails to steal information about Kazakh mining company ENRC. Former detective Cameron Findlay has claimed ex-Dechert partner Neil Gerrard orchestrated a campaign of ‘spear-phishing’ attacks against him during a court dispute surrounding the Kazakh firm, US court papers show. A [...]
EY’s China staff asked to wear communist party badges to work February 27, 2023 Staff in EY’s Beijing offices have reportedly been asked to wear their communist party badges to work. A communist party committee in EY’s China business called on party members to wear their hammer and sickle pins in the office, the Financial Times reported. In an email to party members working in EY’s Beijing office, the [...]
Monzo and Wise founders back £8.8m Robin AI robot lawyer project February 27, 2023 A City computing company has raised $10.5m (£8.8m) from backers including top execs from Magic Circle law firm Clifford Chance to develop an artificial intelligence (AI) driven, robot lawyer. The founders of fintech firms Monzo and Wise have also thrown their weight behind London’s Robin AI, which is seeking to disrupt the legal sector with [...]
Insurance sector deal-making hits decade high but 2023 outlook remains shaky February 26, 2023 Insurance sector M&A deals surged to a 10-year high in 2022, as the end of Covid-19 drove an uptick in deal-making activity. Insurance companies completed 449 M&A deals last year, marking the highest number of deals for a decade, new data from Clyde & Co shows. The surge in deals, from 418 in 2021 to [...]
Norwegian billionaire fails to overturn conviction for lying to UK court in £285m Deutsche Bank dispute February 26, 2023 Norwegian billionaire Alexander Vik has failed to overturn a conviction for lying to a UK court during a £285m dispute with Deutsche Bank. Deutsche Bank first sued the magnate’s company, Sebastian Holdings, back in 2009 over a series of loss-making foreign exchange deals, and the court has since ordered the firm to pay $243m (£203m) [...]
HSBC doubles down on homeworking as Lloyd’s of London pushes for return to City HQ February 26, 2023 HSBC’s and Lloyd’s rival plans for the futures of their London headquarters have revealed a growing split in attitudes towards the long-term prospects of working from home. Lloyd’s of London is reportedly in talks to extend the lease on its iconic City headquarters as it works to bring staff back into the office in resisting [...]
Centrica heads back to court to challenge government over Octopus’ Bulb takeover February 26, 2023 British Gas owner Centrica is set to lock horns with the government in court over its handling of Bulb's sale to rival Octopus.