The strength of the UK’s legal eagles heightens need for favourable Brexit deal July 20, 2016 Five successive years of growth in the legal sector increases the need to secure the best business deal possible in Brexit negotiations, a study out today argues. The research by TheCityUK found gross fees for UK-based legal services firms had risen by 1.3 per cent to £30.9bn in 2014-15, while the sector contributed £25.7bn – or 1.6 per cent of GDP – [...]
How we’ll legally leave the EU: Article 50 case to be heard in October July 19, 2016 A case brought to challenge how Article 50 will be triggered is due to be heard by the courts in mid-October. No precise date was set in a hearing at the High Court today, but the judges said it was probably to be before 15 October. Sir Brian Leveson, who was one of the judges [...]
Hip hip for Hays: Strong growth overall despite small pre-Brexit slump in UK market July 14, 2016 Hays has been pulling in the fees at a good pace worldwide, the recruiter revealed in a short trading statement today. The figures The company reported eight per cent growth in net fees on a like-for-like basis for the three months to June. The statement for the recruiting firm's fourth quarter also revealed full-year operating profits were [...]
Why lawyers are in a tizzy over Article 50 July 12, 2016 Legal eagles have been making front page news after both solicitors and barristers have launched challenges to the way the government might take the UK out of the EU. Mishcon de Reya last week revealed that it was waiting in the wings to start a legal battle should the government trigger Article 50 without an appropriate Act of [...]
Libor retrial of ex-Barclays traders set for next February July 12, 2016 Two ex-Barclays bankers were today handed a metaphorical save the date card to head back to court, where they'll face accusations of Libor-rigging. Stylianos Contogoulas, 44, and Ryan Reich, 34, who have been charged with conspiracy to defraud, will be tried at Southwark Crown Court on 13 February 2017. The prosecution alleges that the pair played [...]
Begbies Traynor swings into profit by pinpointing property to overcome lacklustre insolvency market July 12, 2016 Begbies Traynor revealed a reverse in fortunes today, swinging into a profit in its most recent financial year. The figures The business recovery and property services consultants reported a profit before tax from continuing operations of £558,000 for the year to April, up from a loss of £723,000 the year before. Meanwhile, the company brought in [...]
Phones 4u co-founder set to face off against former business partner in court tomorrow, but defendant claims she was bullied into signing a false statement July 11, 2016 A co-founder of Phones 4u will be heading to court tomorrow over a business deal turned incredibly sour. Signia Wealth, a wealth management business ultimately owned by Phones 4u's John Caudwell, is suing Nathalie Dauriac-Stoebe, alleging that she fraudulently claimed around £33,000 in expenses over a three-year period while working for the company, including claims for [...]
Law firm Clyde & Co confirms faith in Europe by launching first German office July 11, 2016 Clyde & Co is taking its first steps onto German soil, announcing today that it will be launching an office in Dusseldorf. The Dusseldorf office, which will open in the autumn, is the firm's 15th in Europe and 46th worldwide. The new office will initially be populated by a five-strong team from European law firm Noerr, which Clyde [...]
SThree half-year profits sputter on banking hiring slowdown ahead of Brexit vote July 11, 2016 Less hiring in the banking sector in the run-up to the EU referendum has taken its toll on SThree's profits, the staffing company revealed in its interim results today. The figures The company, which is focused on finding staff to fill STEM roles, reported profits before tax of £12.8m for the half year to May, down seven per [...]
Lawyers call for safeguards to protect legal professional privilege in Investigatory Powers Bill July 11, 2016 Lawyers are today calling on the House of Lords to do more to protect their clients' "fundamental" rights under the Investigatory Powers Bill. The Law Society is urging the House of Lords to ensure the Bill contains provisions that will protect legal professional privilege and allow clients to communicate confidentially with their lawyers. "Legal professional privilege [...]