UK fraudsters extend their reach after taking advantage of two-thirds more victims during Covid February 24, 2022 The number of UK fraud cases worth more than £100,000 jumped by two-thirds (66 per cent) between 2020 and 2021, according to new figures from KPMG’s UK Fraud Barometer. The figures show fraudsters took a splatter-gun approach to financial crime last year, in defrauding a larger number of victims for smaller sums of money than [...]
Clifford Chance tech lawyer says London law firm should adopt Silicon Valley work culture February 23, 2022 A rising star lawyer at Magic Circle law firm Clifford Chance has called on the Canary Wharf headquartered firm to appoint a “Chief Happiness Officer” after submitting a manifesto to his colleagues calling on the firm to create a Californian style work culture. Clifford Chance partner Jonathan Kewley, who is standing for the position of [...]
Exclusive: Most UK businesses failing to offer employees workplace pension support February 23, 2022 Most British businesses do not offer their employees adequate support in understanding their workplace pension plans, according to the results of a survey shared exclusively with City A.M. In a poll of 365 decision makers from financial services company Mintago, 60 per cent said they do not believe their businesses provide sufficient support to employees [...]
City exclusive: London court issues arrest warrant for high-profile venture capitalist Julie Meyer February 23, 2022 The High Court has issued an arrest warrant for Julie Meyer, the founder and CEO of Swiss investment fund Viva Investment Partners (VIP), after she failed to attend a court hearing last week. The decision to issue a warrant for Meyer’s arrest comes after the High Court this month handed the high-profile businesswoman a [...]
Robots and AI’s not allowed to copyright artworks, US Copyright Office says February 22, 2022 The US Copyright Office (USCO) has said Artificial Intelligences (AI’s) should not be allowed to patent their own work, after ruling that copyright claims can only be registered on work containing elements of human authorship. The Copyright Office ruled that artificial intelligences (AI’s) should not be allowed to secure copyright on any content they [...]
Allianz to vote against executive pay policies that are not linked to ESG targets February 22, 2022 German asset manager Allianz Global Investors has said it will vote against major companies that fail to link their executive salaries to ESG metrics. The Munich headquartered multinational, which controls €2.4trn in assets, warned major UK and EU companies that it will vote down any remuneration policy that is not linked to ESG aims. Allianz’ [...]
Professional services industry sails through pandemic with strong M&A winds February 22, 2022 The professional services industry has sailed through the pandemic with significantly strong fundraisings and acquisitions, according to the latest research. Private UK fundraising soared 78 per cent higher last year than in 2020, and sits some 70 per cent higher than pre-pandemic figures, analysis by Arden Partners has found. Meanwhile, buyouts garnered a combined value [...]
Hogan Lovells posts ‘strongest overall results in history’ on the back of M&A boom February 22, 2022 Partners at Hogan Lovells are set to receive £1.8m, the law firm said today, after it posted record global revenues of almost £1.9bn for the financial year 2021. Anglo-American law firm Hogan Lovells today posted record revenues of £1.895bn for FY 2021, on the back of booming demand for its M&A services, following a record [...]
UK strikes compensation deal with Nigeria following years-long global fraud probe February 22, 2022 Over £200,000 in compensation obtained by the Serious Fraud Office (SFO) investigation into a company called Amec Foster Wheeler Energy will be transferred to Nigeria after a UK-Nigeria Memorandum of Understanding was signed today, the SFO said this afternoon. “In total, £210,610 will be transferred by the UK Government, with the funds supporting three key [...]
Lawyers are just as miserable as everyone else, but are considerably more likely to have a drinking problem February 21, 2022 Lawyers are not any more miserable than people working in other professions, such as medicine or dentistry, according to new research from Yale University. However, lawyers are significantly more likely to have a drinking problem. New research from Yale Law School found that lawyers are marginally less likely to suffer from a serious mental [...]