Exclusive: Service sector confidence in Britain’s economy has rebounded since Liz Truss, research reveals February 8, 2023 Confidence in the state of the UK economy has rebounded since Liz Truss’ term as prime minister, new research shared exclusively with City A.M. has revealed. Execs working in the UK’s professional services sector are significantly more confident about the state of the British economy than they were in middle of 2022, data from the [...]
Robot laws: First barrister to use AI in Old Bailey murder trial urges government to push forward cutting edge tech February 7, 2023 The first barrister to use an Artificial Intelligence (AI) tool in an Old Bailey murder trial has called on the UK’s Ministry of Justice (MoJ) to invest in the cutting edge technology. Sally Hobson, a criminal defence barrister at London chambers The 36 Group, told City A.M. AI tech has the potential to “save huge [...]
Criminal prosecutors secure 15 per cent pay hike as part of emergency funding deal February 6, 2023 Criminal prosecutors in England & Wales will be given a 15 per cent pay hike to lure them back to court after striking an emergency funding deal. Barristers will receive the same fees for carrying out both defence and prosecution work after the Crown Prosecution Service (CPS) secured extra cash via a deal with the [...]
EY says it does not owe ‘duty of care’ to taxman in fight over property magnate’s tax affairs February 6, 2023 EY has said it is under no obligation to help HMRC collect more taxes in defending itself against a High Court lawsuit over a British property magnate’s tax affairs. The Big Four accounting firm said it owed no “duty of care” to HMRC to have given it information that could have helped it collect more [...]
London’s litigation financiers primed to profit on global downturn, Therium chief says February 3, 2023 London’s litigation funders are in a prime position to capitalise on the global economic downturn, the founder of one the UK’s top lawsuit financiers told City A.M. The economic slump threatens to stretch in-house legal budgets and drive an uptick in legal battles, Therium founder Neil Purslow said, which could force companies and litigants turn [...]
UK to ‘use all tools’ available to crack down on thousands of firms that missed property register deadline February 1, 2023 The UK government has vowed to “use all the tools” at its disposal to crack down on the thousands of overseas companies that have failed to report their beneficial owners with Companies House’s new property register. The government pledged to fine and prosecute the “oligarchs and non-compliant organisations” that missed yesterday’s deadline to declare their [...]
Baker McKenzie launches ‘thorough review’ into ex-lawyer’s racism allegations February 1, 2023 US law giant Baker McKenzie has vowed to immediately conduct a “thorough review” into claims a mixed-race lawyer was subject to multiple instances of discrimination in one of its European offices. The Chicago firm’s review comes after one of its former lawyers claimed she felt forced to leave her job due to facing poor mental [...]
Law firms face fines or closure over ‘incompetent’ solicitors as watchdog renews crackdown February 1, 2023 The UK’s solicitors’ watchdog has warned that law firms could be fined or shut down if they fail to deal with incompetent solicitors, as it looks to take tougher action against firms and lawyers that fail to meet the regulator’s expectations. The Solicitors Regulation Authority (SRA) said yesterday that it intends to “broaden the ways” [...]
Size matters: Womble Bond Dickinson merger with BDB Pitmans canned as it ‘would be more like a takeover acquisition’ February 1, 2023 Womble Bond Dickinson and BDB Pitmans have scrapped plans for a merger, the firms confirmed today, as analysts suggested the relative size of the former would mean a merger would, in reality, be more like a takeover. The law firms, who first entered talks in Autumn 2022, said in a joint statement they had “decided [...]
Ex-PwC partner denies leaking info to City banker to help Slater & Gordon’s £637m deal January 31, 2023 The former head of PwC’s restructuring business has denied leaking confidential information to a London investment banker that allegedly helped City law firm Slater & Gordon get a better price in a £637m acquisition, a London court heard today. Ex-PwC partner Ian Green is accused of disclosing commercially sensitive information about software developer Quindell’s financial [...]