EY to slash over 100 US jobs as part of ‘long-term’ transformation for Big Four firm December 12, 2023 EY is cutting over a hundred more jobs in the US as the firm in the midst of “transforming” its business, following split fail earlier this year. The Wall Street Journal (WSJ) reported that the job cuts are largely concentrated on the advisory side of its US operations. It is reported that 10 per cent [...]
EY set to close yet another legal arm of its business December 12, 2023 EY is shuttering its legal arm in Hong Kong in January, which makes it the second closure action the firm has taken against its legal services. On 23 January, the Big Four firm will close its Hong Kong law member firm, LC Lawyers, according to Bloomberg News. LC Lawyers advised on Hong Kong IPO and [...]
Begbies Traynor acquires midlands firm of property auctioneers December 12, 2023 Professional services that act as a restructuring specialist, Begbies Traynor Group has completed the acquisition of a national firm of property auctioneers.
FRP Advisory profits soar due to uptick in restructuring activity December 12, 2023 Professional services firm FRP Advisory's revenue jumped 19 per cent in the first half of 2023 as its restructuring team was more active this year.
UK legal market sees revenue hit record level December 12, 2023 Revenue generated by legal activities in the UK hits its highest level in more than a decade, as the sector generated £43.7bn over 2022/23. In a new report by TheCityUK, much of the £43.7bn figure was generated by the top 100 UK law firms, who netted more than £33.7bn in 2022/23. This figure was up [...]
Prince Harry ordered to pay nearly £50,000 to The Mail On Sunday owner over failed application December 11, 2023 The Duke of Sussex must pay lawyers’ bills run up by the publisher of The Mail On Sunday, after losing the latest stage of a High Court libel battle, a judge says. On Friday Prince Harry failed in a bid to have Associated Newspapers’ defence to his libel claim thrown out. Mr Justice Nicklin says [...]
HMRC seeks more audit files from EY in property tycoon’s tax dispute December 11, 2023 Counsel for HMRC asked the court this morning to see more of EY’s audit files in relation to the property tycoon’s tax affairs dispute. HMRC filed a claim to the High Court against the Big Four firm over allegations it misrepresented its client tax affairs to the HMRC. The client was the British property investor [...]
Here are the five partners on the ballot to be the next managing partner of A&O Shearman December 11, 2023 Allen & Overy will host an election for the firm’s next senior partner and managing partner in February, for a new senior team to take over post-merger.
Lawyers warn regulator will want to send a strong message over non-financial misconduct December 11, 2023 There has been an uptick in firms facing scrutiny over non-financial misconduct, say lawyers, and this won’t be slowing down anytime soon they have warned. James Alleyne, legal director at Kingsley Napley noted, “non-financial misconduct is clearly a priority for the FCA.” He added: “regulated firms are certainly more conscious than ever about staff behaviour [...]
PwC to challenge staff business trips in move to reach net zero target December 9, 2023 PwC has introduced a programme that will challenge the type of travel staff will take for business trips, in a move to reduce its carbon footprint. According to the Financial Times, senior UK staff were informed that only people travelling on long-haul night flights or those flying for business-critical reasons would be allowed to sit [...]