LV= seeks to reassure members after Royal London merger talks collapse February 13, 2022 Mutual insurer LV= has told members it was wrong to say that it could not survive without being taken over by Bain Capital, after plans for its merger with Royal London collapsed last week. In a letter to LV=’s 1.1m members, the firm said LV=’s Board no longer believes that merging with another mutual insurer [...]
UK legal sector post record turnovers on back of M&A boom February 13, 2022 The UK’s legal sector has posted its largest turnovers ever, on the back of booming demand for legal services, according to figures from the Office for National Statistics (ONS). In 2021, the UK’s law firms generated £41.58bn in revenues, compared to annual turnovers of £36.78bn in 2020, figures from the UK government’s ONS show. The [...]
Inside Farrer & Co – the blue-blooded law firm that serves Britain’s aristocracy February 10, 2022 Throughout its 300-year history, Farrer & Co has gained a reputation for being London’s poshest law firm. First established in 1701, the firm is famous for serving the elite and acting on behalf of Britain’s aristocracy. The London firm also has longstanding links to the Royal Family, and currently acts as the Queen’s go-to lawyers. [...]
UK watchdog probes audit of Sanjeev Gupta’s Liberty Commodities, in wake of Greensill scandal February 10, 2022 The UK’s audit watchdog has launched an investigation into HW Fisher’s audit of Sanjeev Gupta’s metals trading company Liberty Commodities, after eight companies linked to the steel magnate borrowed up to £400m from collapsed firm Greensill Capital. The Financial Reporting Council (FRC) said it has launched a probe into London accountant HW Fisher’s audit of [...]
Addleshaw Goddard to merge with Irish law firm, in line with fast-paced EU expansion February 10, 2022 London law firm Addleshaw Goddard is set to merge with Dublin headquartered firm Eugene F Collins (EFC), as it pushes forwards with plans for a fast-paced European expansion. Addleshaw’s merger with EFC comes as the London firm’s first expansion into Ireland as it pushes forwards with plans to double in size over the next three [...]
Former KPMG auditors claim watchdog failed to give them a fair hearing over Carillion allegations February 10, 2022 The former KPMG employees being investigated by the UK’s accountancy watchdog over their work auditing collapsed construction giant Carillion have claimed the regulator has failed to give them a fair hearing. The former KPMG employees said the Financial Reporting Council (FRC) did not give them an opportunity to answer all of the allegations against them, [...]
Sending out paper documents will cost Abrdn £2m and emit 500,000kg of CO2 emissions February 9, 2022 The UK government should let companies use blockchain technology to send out documents to shareholders instead of forcing them to send out hard copies, a UK tech expert has said. The comments come after investment company Abrdn was forced to delay plans for its £1.5bn takeover of Interactive Investor, due to worldwide paper shortages. UK [...]
Law Society’s pay gap has gotten wider through Covid as men fill higher paying jobs and take home bigger bonuses February 9, 2022 The Law Society and the Solicitors Regulation Authority’s (SRA’s) gender pay gap has widened since the start of the pandemic, according to new figures from the trade body. On average, men were paid 11.5 per cent more than women in 2021, and received 23.2 per cent larger bonuses. By comparison, men only received 10.6 per [...]
Deloitte to buy up Belfast software developer as it pursues Northern Ireland expansion February 9, 2022 Big Four accountancy giant Deloitte is planning to acquire Belfast based software developer Etain, in a vote confidence in the city of Belfast which will see the firm create Northern Ireland’s biggest AI and data practice. The deal will double the size of Deloitte’s Belfast AI and data practice, and see the Big Four firm [...]
UK should ban CCTV cameras used by Chinese government, campaigners say February 9, 2022 Local authorities across the UK are using the same CCTV cameras the Chinese government uses in Uyghur internment camps, the Free Tibet campaign has said, after calling on the government to ban use of the cameras in Britain. At least 275 local councils have bought CCTV cameras from Chinese state-owned company Hikvision, despite claims the [...]