Goldman-linked EY breach highlights new era of undetectable data theft October 7, 2026 Sensitive corporate data can be stolen through everyday workplace software without setting off traditional cyber defences, Darktrace has warned, after a breach at the Big Four giant exposed information linked to Goldman Sachs and Man Group. Nathaniel Jones, senior vice president of global threat intelligence at Darktrace, told City AM attackers were increasingly able to [...]
PwC expects junior hiring to ‘push back up’ across professional services despite AI fears October 7, 2026 The chief executive of PwC UK said he expects the hiring of young people across the professional services sector to “push back up”, challenging the notion that AI is replacing junior work and slowing entry-level recruitment. Marco Amitrano, the Big Four giant’s UK chief executive and senior partner of PwC UK and the firm’s Middle [...]
Former City traders’ fraud convictions overturned October 7, 2026 A group of five former City traders previously convicted of rigging the Libor and Euribor interest rates have had their fraud convictions overturned by the Court of Appeal. The five investment bankers, who previously worked at Barclays, had their convictions quashed having served jailtime for conspiring to rig the now-defunct interest rates in the run-up [...]
Dutch consulting disruptor takes aim at City’s ‘five-to-one’ markup October 7, 2026 Sweav, a Dutch-founded freelance consulting platform, is launching in the UK to challenge the traditional professional services sector on pricing. Speaking to City AM, Joeri Schouten, co-founder of Sweav, said: “The UK is the biggest professional services market in Europe [but] the culture is still much more traditional, very hierarchical, and has an even more [...]
Gen Z accountants think AI fluency gives them the edge over managers October 7, 2026 Young accountants are arriving in the sector confident in their AI skills, but a lack of soft skills is emerging as a new workplace divide. According to new findings from financial tech platform Intuit QuickBooks, based on responses from more than 1000 early-career accountants and finance professionals, almost all (90 per cent) said they will [...]
Labour’s band-aid won’t save the justice system from collapse October 7, 2026 When the buildings designed to deliver justice are infested with rats, it is no surprise that the system itself is rotting from the inside out, writes Maria Ward-Brennan. The terrible state of the justice system is by now well understood, but with the government’s most controversial plan to relive the pressure now partially scrapped, the [...]
KPMG Australia seeks $100m bailout from parent group after scandal October 6, 2026 KPMG Australia is reportedly considering asking for $100m (£52.6m) in emergency loans from the Big Four firm’s global network after a scandal rocked the firm’s reputation and business down under. The Australian firm’s newly appointed chief executive, John Sams, has considered asking KPMG International to loan the arm up to $100m or waive its fee [...]
Post Office former senior lawyer slammed over remote Tribunal request October 6, 2026 The Post Office’s former general counsel is “putting her own convenience” first by filing an application to appear remotely from Australia for a Tribunal hearing over alleged misconduct during the Horizon IT Scandal, the legal regulator counsel said. Jane MacLeod, the former Post Office general counsel from 2015 to 2019 and Nicholas Gould, a partner [...]
UK firms axe PR and consulting spend as AI tools muscle in October 6, 2026 British businesses are shelving spending on public relations and consultancy firms as they embrace the capabilities of PR tools, according to City AM’s latest Business Spend Pulse. The share of UK firms who spent money on management consultants and PR services fell sharply in September to just 4.2 per cent, despite an overall 3.1 per [...]
Scrapping jury trials for fraud and financial cases brings ‘serious concerns’ October 5, 2026 Government plans to push ahead with jury-free trials for certain fraud and financial proceedings raise “serious concerns”, according to the Institute for Government (IFG) and lawyers across the City. The proposal, introduced by former justice secretary David Lammy officially last December, following a recommendation in a review of the court system in England and Wales [...]