DAC Beachcroft unlocks the path to profit growth July 6, 2016 A focus on improving its cash position has helped profits per member to rocket at international law firm DAC Beachcroft, its provisional results revealed today. The figures The firm's total turnover for the year to April came in at £202m, up two per cent on the year before, while profit before tax rose to £35m, an increase of nine per cent. [...]
Clifford Chance celebrates a record breaking year, with revenues reaching a new high July 6, 2016 Clifford Chance has a reason to crack open the champagne this afternoon, after the magic circle outfit revealed its highest levels of revenues for a financial year yet. The figures The law firm announced revenues for its years to April of £1.39bn, up three per cent on the year before. Meanwhile partnership profit hit £494m [...]
KPMG has appointed senior partner Karen Briggs to be the firm’s “head of Brexit” July 6, 2016 KPMG has appointed one of its senior partners as the firm's official "head of Brexit". Ahead of many other companies and indeed the Conservative Party, the Big Four firm announced today that Karen Briggs will lead its work in advising its clients on how to manage their businesses in the wake of the surprise pro-Brexit referendum result two weeks ago. She [...]
Allen & Overy financials hold steady in face of Brexit uncertainty July 6, 2016 Magic circle outfit Allen & Overy today revealed a small dip in its reported profits, as EU referendum uncertainty caused work to tail off in the second half of its financial year. The figures Profit before tax for the year to April slid by 1.4 per cent to £562m, although the figure was also affected by changes to [...]
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 [...]