Judge orders Danish tax authority to foot £46m legal bills in failed litigation June 9, 2021 The Danish tax authority has been ordered to pay £46m in legal bills by a London court after its attempt to sue a British former hedge-fund investor failed. The Danish taxman put a $1.9bn (£1.5bn) fraud claim through the UK courts against Sanjay Shah and more than 100 other individuals and companies accusing them of [...]
MiCA: A ‘beta version’ of crypto-assets regulation in the EU June 8, 2021 | City Talk Alexander Prognimak, CFA from the CFA UK Future of Money Working Group, looks at European Union plans for crypto-assets. Gone are the days when London’s famous red buses would be carrying adverts promoting the dream of a shiny post-Brexit future for the NHS. As one ad (that has attracted the advertising regulator’s attention) read: ‘If [...]
Rishi Sunak promises to protect the City from Brussels’ financial services bid June 8, 2021 Rishi Sunak, the Chancellor, promised that the City will remain “competitive and dynamic” even in the face of Brussels’ bid to unseat it from its crown, in a private call with banks. Sunak described the financial services industry as a “crown jewel” and, according to reports, said the country will fight to protect it. The [...]
Post-winter split: 21 per cent more applications in March than January dispel divorce myth June 7, 2021 The number of divorce applications filed in March was 21 per cent higher than January, dispelling the belief that January is peak divorce month. From 2003 to 2020, there were 219,778 divorce petitions filed in the month of March, the largest number of petitions filed by month across the period, according to Ministry of Justice data analysed by law firm Boodle [...]
Normalising ‘speaking up’ and learning how to ‘listen up’ June 7, 2021 | City Talk Catriona Paisey reports on the key findings from her Speak Up? Listen Up? Whistleblow? research funded by ICAS. ICAS’s business ethics initiative, The Power of One, emphasises that the importance of trust in business must not be understated. Trust is the key to the long-term sustainability of organisations. To ensure trust, there is a need for [...]
Employment tribunals: Age discrimination cases up by 74 per cent in a year June 3, 2021 The number of age discrimination complaints to employment tribunals increased by 74 per cent in the last year, according to new research shared with City A.M. today. Based on tribunal statistics data from the Ministry of Justice, digital community Rest Less found that the number of receipts under the jurisdiction of age discrimination in employment [...]
Foreign Secretary Dominic Raab to intervene in case over £1.4bn of gold deposited in the Bank of England June 1, 2021 In a case that is set to determine the fate of almost £1.4bn of Venezuelan gold deposited in the Bank of England, UK’s Foreign Secretary Dominic Raab has been granted permission to intervene at the Supreme Court during a hearing scheduled for next month. The case at the highest court in the land is between the [...]
EY to centralise power in Europe in break from typical Big Four model June 1, 2021 EY will centralise power in a new European executive team, in a move that breaks away from the typical model employed by Big Four firms. The European executive team will pool resources from across the region, the Financial Times first reported. Big Four firms typically operate a federal model, with profits and resources largely kept [...]
Slaughter & May adopts different working rules for junior and senior staff May 30, 2021 Law firm Slaughter & May is planning separate rules for its junior and senior lawyers that will see those in higher positions able to work from home more often. Trainee lawyers, newly qualified associates and new recruits will be required to work from the office four days a week on average from September, the Telegraph [...]
Business and professional services boosts UK economic output in May May 30, 2021 The City of London’s dominant business and professional services industry put rockets under the UK’s private sector business activity in the three months to May, according to the latest CBI monthly gorwth survey. Business and professional services activity grew at a survey record pace, gorwing at a rate of 50 per cent, up from a [...]