714 new partners worldwide for Big Four firm EY, with a focus on emerging markets and women July 5, 2016 Big Four firm EY announced today that it had promoted 714 to partner worldwide, with women and those from emerging markets accounting for a substantial chunk of the number. Over a third (35 per cent) of the new partners came from emerging markets, while just less than three in 10 (29 per cent) were women. The [...]
Why not just anything can be a MACCOFFEE – EU court rules in favour of McDonald’s trademark July 5, 2016 Fast food mainstay McDonald's today received a boost to its branding, after a Singapore rival failed in a bid to secure rights to the MACCOFFEE trademark. The General Court of the European Union decided that Future Enterprises' EU trademark application for MACCOFFEE could not be approved because of an earlier trademark application made by McDonald's, which covered the affixing of [...]
Three years in a row for progress at Herbert Smith Freehills, with both revenues and profits up July 5, 2016 The joint chief execs of law firm Herbert Smith Freehills today praised the firm's third year in a row of progress, as it revealed a boost to revenues and profits in its provisional results. The figures The firm reported revenues for the year to April of £870m, up seven per cent compared with the prior year's £815m. Profits [...]
MPs: Treatment of confiscation orders currently teaching wrongdoers that crime pays July 5, 2016 Government's current treatment of confiscation orders is sending out the wrong message about crime, a report published today has warned. In particular, the report by the Public Accounts Committee (PAC) criticised the Home Office for routinely missing opportunities to push for confiscation orders, which allow proceeds from crimes to be recouped from somebody who has been [...]
Libor three – Who’s who? July 4, 2016 After a trial lasting just short of three months, three ex-Barclays bankers have been found guilty of Libor-rigging related offences. The jury was, however, unable to arrive at a decision for the other two before being discharged. But who were the men in the docks? Jonathan Mathew (Source: Getty) Jonathan Mathew, 35 Verdict: Guilty, 11-1 majority [...]
Capita extends contract with the Pension Regulator to 2021 July 4, 2016 Support services giant Capita was today awarded a contract extension from the Pensions Regulator in a deal worth a further £37m over three years. The agreement will see Capita continue to work with smaller businesses, ensuring the implementation of the automatic enrolment of workplace pensions. Lesley Titcomb, chief executive of the Pensions Regulator, said: “The continuation [...]
Four years after the Libor scandal broke – how many bankers have been found guilty, and how many have been acquitted? July 4, 2016 Four years ago, Bob Diamond sensationally quit as chief executive of Barclays as a scandal over Libor-rigging sent shockwaves through London’s banks. Shortly after, on 6 July 2012, the Serious Fraud Office (known as the SFO) kicked off an investigation into the manipulation of Libor – the “London Interbank Offered Rate”, an interest rate benchmark [...]
Boss of property website Zoopla revealed to be behind Brexit legal action bid July 4, 2016 Alex Chesterman, chief executive of online property group Zoopla, has been revealed as one of the names behind a legal challenge to Brexit. London law firm Mishcon de Reya announced over the weekend that it was putting together a team who could mount a legal challenge if the government kicked off the Article 50 process – [...]
Film tax schemers hit with prison sentences worth more than 36 years July 3, 2016 An HM Revenue & Customs (HMRC) investigation into a film tax scheme concluded late last week with a final set of sentences bring the total jail time for those involved to more than 36 years. The scheme, which HMRC states would have cheated the system of £2.2m had it gone ahead as planned, involved false claims of [...]
Germany’s financial watchdog extends support for whistleblowers July 3, 2016 Germany's financial watchdog has given a boost to whistleblowers this weekend by launching a system for those who want to report the wrongdoings of their companies. The Federal Financial Supervisory Authority's (Bafin) new system is aimed at employees or others who are closely linked to an organisation who wish to disclose violations of supervisory rules. Bafin's new unit will [...]