City watchdog to crackdown on adverts that downplay risk of borrowing as cost-of-living crisis bites May 6, 2022 The UK’s financial watchdog has told lenders and brokers to stop using misleading terms in their advertising that might make borrowing money look easier or less risky than it is. The Financial Conduct Authority (FCA) has sent letters to 28,000 consumer credit firms telling them to stop using terms such as “no credit check loans,” [...]
‘The lazy g**s make me sick’: Lord Sugar berates PwC summer working hours as a ‘bloody joke’ May 6, 2022 Lord Alan Sugar has branded PwC’s summer working hours scheme a “bloody joke”, after the Big Four firm said it would give workers Friday afternoons off. The business leader took to Twitter in a tirade against the decision saying the “lazy gits make me sick.” “Call me old fashioned but all this work from home [...]
Self-proclaimed Bitcoin inventor sues crypto exchanges in multi-billion-pound trademark spat May 5, 2022 An Australian cryptographer, who claims to be the inventor of Bitcoin, is suing two of the world’s largest cryptocurrency exchanges over claims they undermined his intellectual property rights by using the name Bitcoin. Craig Wright, who claims to be the real person behind the Bitcoin creator’s alias Satoshi Nakamoto, is suing Coinbase and Payward – [...]
Ex-husband of Formula One heiress accused of taking part in £266m money laundering scheme May 5, 2022 The former husband of Formula One heiress Petra Ecclestone’s played a leading role in a £266m money laundering scheme, a court has been told. Socialite James Stunt took a “a very hands-on approach” to running the operation, which saw millions in used noted deposited into the NatWest account of Bradford gold dealer Fowler Oldfield, prosecuters [...]
Swiss blockchain developer sues Meta over infinity logo trademark dispute May 4, 2022 A Swiss blockchain developer has filed a trademark infringement lawsuit against Facebook owner Meta, over claims the tech giant’s infinity logo bares too many similarities to its own infinity insignia. Swiss non-profit Dfinity filed a lawsuit in a California court, after claiming it would be “severely harmed” by being linked in any way to Meta’s [...]
KPMG to double size of UK legal practice as part of ‘once-in-a-generation’ growth strategy May 4, 2022 Big Four accountancy firm KPMG is set to double the size of its UK legal practice over the next three years, as it pushes forwards with plans for its “once-in-a-generation” growth strategy. The plan is set to see KPMG hire 220 new lawyers – including 45 new partners and directors – by the end [...]
PwC extends summer working hours policy following success of pilot scheme last year May 4, 2022 Big Four accountancy firm PwC has said it is extending its “summer working hours” programme to June, following the success of the pilot scheme last year. The firm said it will let staff to leave at lunchtime on Fridays for the months of June, July and August of this year. The plan comes after PwC [...]
‘I made the decision that I would face prison’ – jailed solicitor Sophie Khan tells all in exclusive interview with City A.M. May 3, 2022 At the start of this year, human rights lawyer Sophie Khan was jailed, after refusing to hand over documents to the independent watchdog that regulates solicitors. A High Court judge sentenced the solicitor to six months in prison, for refusing to comply with two separate court orders calling on her to give over clients’ files. [...]
Ex-Irwin Mitchell lawyer jailed for researching defendant while serving on jury May 3, 2022 An ex-Irwin Mitchell solicitor has been jailed for causing the collapse of an historic child abuse trial after she admitted researching the defendant online whilst serving on the jury. Veteran lawyer Caroline Elizabeth Mitchell was sentenced to two months in prison after pleading guilty to telling fellow jury members about research she had done online, [...]
Grant Thornton strikes deal to offer crypto-recovery services May 3, 2022 Accountancy firm Grant Thornton has joined forces with a trio of other firms with a view to offering crypto recovery services. The accountancy firm struck a deal with two London law firms and a New York investment manager, to help clients recover stolen crypto assets. The deal comes on the back of a sharp rise [...]