Big Four accountancy firm EY considers floating advisory business on the stock exchange May 28, 2022 EY is considering listing its global advisory business on the stock market, as part of ambitious plans to separate out its audit operations to create two separate firms. The plan could see EY float its tax, consulting, and deals advice business on the stock exchange, as the firm considers breaking itself up to escape the [...]
Londoner jailed for 33 years after butchering his Stockwell landlords during lockdown May 27, 2022 A Londoner who stabbed his landlords to death after becoming paranoid about Covid during the first national lockdown has been jailed for at least 33 years. Daniel Briceno Garcia, 46, killed Sonia Butron Calvi, 66, and Edgar Aguilera Daza, 60, at the home they shared with five others in Stockwell, south London, on April 1 [...]
EY working to spin off its audit business in biggest shakeup of any Big Four firm in two decades May 27, 2022 EY is working on splitting its business in two, to separate out its audit and advisory operations. The accountancy firm is planning the biggest shakeup to the Big Four in two decades, by spinning off its audit business into a separate firm, according to the Financial Times. EY’s plans come as part of ambitious efforts [...]
Exclusive: KPMG to hire 3,500 tech workers to staff newly launched digital products business May 27, 2022 KPMG today launched a new digital solutions business which is set to see the firm more than double the size of its 3,000 strong technology focused workforce by hiring 3,500 new data scientists and engineers. The UK arm of the Big Four firm said it plans to create 1,000 London tech jobs, in its efforts [...]
Companies should brace themselves for an avalanche of climate lawsuits, lawyers say May 26, 2022 London listed companies should brace themselves for an avalanche of climate related lawsuits, as shareholders and NGOs increasingly resort to litigation over climate related financial risks, lawyers have said. Investors are increasingly suing companies for breaching their fiduciary duties, over their failures to limit their exposure to climate risks, Fiona Huntriss, a partner at London [...]
Brussels outlines plans to bolster EU powers to seize oligarchs’ assets May 26, 2022 The European Commission is set to bolster the powers it has to seize oligarchs’ assets, after the bloc faced troubles in actually confiscating property due to the safeguards embedded in EU countries’ laws. The EU’s executive body set out plans to boost the powers it has to take control of criminals’ assets, with a view [...]
Fugitive Russian oligarch allowed to sell Belgravia mansion to pay £10m legal fees May 26, 2022 A High Court judge has said fugitive Russian banker Georgy Bedzhamov should be allowed to sell his £35m Belgravia mansion, to pay his lawyers £10m in legal fees. The High Court gave Bedzhamov the OK to sell his mansion on London’s ultra-expensive Belgrave Square, to pay £5m to Mishcon de Reya and a further £5m [...]
Addleshaw Goddard shutters Hong Kong offices due to ‘unique’ challenges posed by city-state May 26, 2022 City law firm Addleshaw Goddard has shuttered its Hong Kong offices with a view to sending lawyers to London, Singapore, and Dubai. John Joyce, managing director of the centuries old law firm, said Addleshaw had decided to close its Hong Kong offices due to the “unique set of challenges” it has faced since first opening [...]
UK competitions watchdog told to cover pharma firms’ costs after investigation failed May 25, 2022 The Supreme Court today said the UK’s Competition and Markets Authority (CMA) could be forced to cover Pfizer and Flynn Pharma’s legal costs, following the collapse of its case into the two pharmaceutical firms. The landmark ruling could see UK regulators made liable to pay the costs of those subject to failed investigations, after the [...]
Insurance sector exodus could serve major hit to Russia’s energy exports May 25, 2022 Efforts on the part of insurers to cut their links to Russia could put a stranglehold on Russian energy exports, unless the Kremlin fills the void, analysts have said. The push amongst Western insurance companies to distance themselves from Russian clients, to ensure they are not in breach of Western sanctions, could severely impact the [...]