Baker McKenzie launches ‘thorough review’ into ex-lawyer’s racism allegations February 1, 2023 US law giant Baker McKenzie has vowed to immediately conduct a “thorough review” into claims a mixed-race lawyer was subject to multiple instances of discrimination in one of its European offices. The Chicago firm’s review comes after one of its former lawyers claimed she felt forced to leave her job due to facing poor mental [...]
Law firms face fines or closure over ‘incompetent’ solicitors as watchdog renews crackdown February 1, 2023 The UK’s solicitors’ watchdog has warned that law firms could be fined or shut down if they fail to deal with incompetent solicitors, as it looks to take tougher action against firms and lawyers that fail to meet the regulator’s expectations. The Solicitors Regulation Authority (SRA) said yesterday that it intends to “broaden the ways” [...]
Size matters: Womble Bond Dickinson merger with BDB Pitmans canned as it ‘would be more like a takeover acquisition’ February 1, 2023 Womble Bond Dickinson and BDB Pitmans have scrapped plans for a merger, the firms confirmed today, as analysts suggested the relative size of the former would mean a merger would, in reality, be more like a takeover. The law firms, who first entered talks in Autumn 2022, said in a joint statement they had “decided [...]
Vodafone shares fall after European revenues hit by price pressures February 1, 2023 Shares in Vodafone today fell almost two per cent after the telecoms firm said its European revenues dropped over the previous year as price pressures have hit its business. Analysts warned the slide in Vodafone’s revenues comes as company chief executive Margherita Della Valle’s first test as head of the telecoms company after she took [...]
Ex-PwC partner denies leaking info to City banker to help Slater & Gordon’s £637m deal January 31, 2023 The former head of PwC’s restructuring business has denied leaking confidential information to a London investment banker that allegedly helped City law firm Slater & Gordon get a better price in a £637m acquisition, a London court heard today. Ex-PwC partner Ian Green is accused of disclosing commercially sensitive information about software developer Quindell’s financial [...]
RBG Holdings shares plummet after professional services firm fires chief executive January 31, 2023 Shares in RBG Holdings today plummeted by more than nine per cent after the troubled professional services group said it had fired its chief executive. The AIM-listed professional services conglomerate said in a statement that its board has “lost confidence” in chief executive Nicola Foulston as it stated her “employment contract has been terminated with [...]
KPMG UK revenues soar to £2.72bn as chief rules out split January 31, 2023 KPMG’s UK business today posted double digit revenue growth for the second year in a row on the back of fast-paced expansion in its consulting and M&A deals advisory divisions. In an interview with City A.M., KPMG UK’s chief executive said the “very strong financial performance” signalled the strength of KPMG’s “multidisciplinary” model, as he [...]
UK unemployment figures could be three times higher than official figures with an ‘army of missing workers’ not accounted for – report January 31, 2023 The UK’s unemployment rate could be three times higher than government figures show due to widespread “hidden unemployment,” a report has warned. Official figures published by the UK’s Office for National Statistics (ONS) show there are just 1.2m unemployed people in Britain, leading to an unemployment rate of 3.7 per cent. However, the Centre for [...]
Law firm Ince’s shares to remain suspended after further results delay January 31, 2023 The listed law firm Ince announced this morning it has further pushed back the publication of its results for the last financial year. Ince told markets this morning that auditors BDO have “informed the company that they require additional time to conclude their audit procedures.” That means the publication of the firm’s annual report for [...]
UK receives lowest ever score on corruption index as Britain’s reputation suffers after a string of political scandals January 31, 2023 Britain has received its lowest ever score and ranking on Transparency International’s annual Corruption Perceptions Index (CPI). The drop “is a powerful indictment” in the decline in public standards, campaigners say, which have been dragged down by a series of recent government scandals around the procurement of PPE during pandemic and multiple ministerial breaches. The [...]