Direct Line takes financial hit from watchdog’s new ‘price walking’ ban May 4, 2022 Insurance company Direct Line has said its Q1 performance was “broadly in line with expectations,” after the FCA’s new pricing practice reforms hit its bottom line. The Bromley based firm said its overall premiums were 2.4 per cent lower in Q1 2022 than in the first quarter of last year, as revenues dropped across its [...]
Londoner accused of using Covid bounce back loans to fund Isis May 3, 2022 Thousands of pounds worth of taxpayer backed Covid loans have allegedly been used to fund terrorist activities abroad.
‘I made the decision that I would face prison’ – jailed solicitor Sophie Khan tells all in exclusive interview with City A.M. May 3, 2022 At the start of this year, human rights lawyer Sophie Khan was jailed, after refusing to hand over documents to the independent watchdog that regulates solicitors. A High Court judge sentenced the solicitor to six months in prison, for refusing to comply with two separate court orders calling on her to give over clients’ files. [...]
Ex-Irwin Mitchell lawyer jailed for researching defendant while serving on jury May 3, 2022 An ex-Irwin Mitchell solicitor has been jailed for causing the collapse of an historic child abuse trial after she admitted researching the defendant online whilst serving on the jury. Veteran lawyer Caroline Elizabeth Mitchell was sentenced to two months in prison after pleading guilty to telling fellow jury members about research she had done online, [...]
Grant Thornton strikes deal to offer crypto-recovery services May 3, 2022 Accountancy firm Grant Thornton has joined forces with a trio of other firms with a view to offering crypto recovery services. The accountancy firm struck a deal with two London law firms and a New York investment manager, to help clients recover stolen crypto assets. The deal comes on the back of a sharp rise [...]
Credit Suisse sued over links with Russian oligarchs May 3, 2022 New York law firm Pomerantz has filed a class action lawsuit against Credit Suisse, over claims the Swiss bank misled investors as to its dealings with Russian oligarchs. The lawsuit comes after shares in Credit Suisse dropped 2.58 per cent on 28 March, in response to reports claiming the investment bank has carried out extensive [...]
Millions of pensioners set to lose out as rampant inflation eats into capped pension schemes May 3, 2022 Millions of pensioners on “final-salary” pension schemes are set to lose out on thousands of pounds each, due to rampant inflation outstripping the cap on increases. Inflation is set to cost pensioners an average of £400 this year and £7,000 over their lifetimes, as soaring price rises eat into people pension pots. Almost all “defined [...]
FTSE 250 fintech firm Plus500 seeks to woo investors ahead of AGM May 3, 2022 Fintech giant Plus500 has told investors it has made “substantial progress” in pursuing its strategy, as it prepares for the start of its annual general meeting (AGM) later this morning. The AGM will see Plus500 investors asked to vote on 20 separate resolutions, including on plans to launch a major share buyback scheme and boost [...]
Exclusive: Half of Londoners aged 75+ wish they were better prepared for retirement May 1, 2022 Almost half (49 per cent) of all Londoners aged 75 and older wish they had been better financially prepared for their retirement, according to new figures shared exclusively with City A.M. At the same time, 45 per cent of Londoners between the ages of 45 and 65 do not have a clear idea as to [...]
London firm lets lawyers work-from-home in return for 20 per cent pay cut April 30, 2022 London law firm Stephenson Harwood has given its staff the option to work from home as often as they like, in return for a 20 per cent pay cut. The law firm’s new remote working policy says employees must come in at least three days a week, unless they are willing to see their salaries [...]