Lloyd’s pledges to end investment in coal in first climate change policy push December 17, 2020 Lloyd’s of London will end investment in thermal coal-fired power plants, thermal coal mines, oil sands and new Arctic energy exploration activities as part of the market’s first ESG strategy. Lloyd’s typically has a more hands-off approach when it comes to climate change strategy. The market acts as regulator for around 100 syndicate members, and [...]
EY chair: ‘Nobody wants to go back to full time in the office’ December 17, 2020 Almost nobody will want to go back to working five days a week in the office post-pandemic, according to EY UK chair Hywel Ball, after employees have enjoyed the convenience of home working for most of 2020. Speaking to City A.M. Ball said offices were likely to look very different post-pandemic, and that staff would [...]
RSM pays back £4.4m furlough cash December 16, 2020 Audit challenger firm RSM has repaid £4.4m to the government, having decided to do so in a board meeting earlier this month, City A.M can reveal. RSM’s board made the decision to repay the the money in full on 8 December. CEO Rob Donaldson said the firm did not see the decision as an opportunity [...]
Queen faces technical hitch during KPMG video call December 16, 2020 The Queen faced a technical hitch while on a call with KPMG yesterday, proving even the royal family are not immune from video call mishaps. Her Majesty paid a virtual visit to KPMG on Tuesday to mark the firm’s 150th anniversary, where she spoke via video call with five individuals at the Big Four firm. [...]
London FOIL appoints Weightman’s partner as new president December 14, 2020 London FOIL has just appointed Ling Ong as their new president to lead the organisation through 2021. London FOIL is an arm of the Forum of Insurance Lawyers, concentrating on the global insurance and reinsurance markets. Ling Ong is also a partner at UK law firm, Weightmans. Ong has been appointed to replace the outgoing [...]
Accountants BDO to pay back millions in furlough cash after payout outcry December 13, 2020 Accountants BDO will return £4.1m in furlough cash after being subject to a barrage of criticism for paying out hefty profits to its partners. The Sunday Times reported that the company, which is one of the UK’s biggest accounting firms, would give back the money after paying its partners an average of £500,000. Managing partner [...]
Professional services firms to be called on to help make sense of Brexit December 11, 2020 Professional services firms will play an important role in deciphering a Brexit deal – should the UK get one – or what the rules will be in the event of a no-deal scenario. Time is running out for the UK and the EU to agree a post-Brexit trade deal. On the last day of the [...]
Clifford Chance bids farewell to gendered language December 11, 2020 You may have missed it between Brexit drama and more Covid-19 news, but this week Clifford Chance announced it had ditched traditional gendered language like “Dears Sir” in its communications. The move aligns it with a growing trend in the legal sector to make language less gendered. The magic circle law firm is making efforts [...]
German audit watchdog head faces investigation over Wirecard share trading December 11, 2020 Head of German audit watchdog Apas Ralf Bose is facing an investigation after admitting buying and selling shares in Wirecard while the regulator was investigating the troubled payments firm. Bose, who has headed up German audit watchdog Apas since 2016 and is a former senior partner at KPMG, told a German parliamentary inquiry into [...]
Mastercard loses £14bn class action ruling in UK Supreme Court for overcharging 46m Brits December 11, 2020 A £14bn class action against Mastercard for allegedly overcharging more than 46m people in Britain over a 15-year period has been given the go-ahead by the UK Supreme Court this morning. The ruling means the case will now head for a second hearing at the Competition Appeal Tribunal so a decision can be made on [...]