Aviva chief Amanda Blanc speaks out against City sexism following ‘inappropriate’ comments at AGM May 11, 2022 Aviva chief Amanda Blanc has spoken out against sexism in the City, after she was subjected to a barrage of “sexist and derogatory” comments at Aviva’s annual general meeting (AGM). The insurance industry veteran said she had observed an increase in incidents of overt sexism during her 30+ years in the financial services sector, as [...]
Government vows to ‘drive dirty money’ out of the UK economy through new Economic Crime bill May 10, 2022 The UK government has vowed crack down on “kleptocrats, criminals, and terrorists” by driving “dirty money” out of the UK economy through its new Economic Crime Bill. The new bill is set to boost transparency, strengthen powers to seize and recover crypto assets, and bolster the investigative powers held by Companies House. Anti-corruption campaigners [...]
Surveillance tech firm Clearview AI agrees to block businesses from using facial recognition database May 10, 2022 Facial recognition startup Clearview AI has agreed to limit customers from using its database of billions of facial images scraped from social media platforms including Facebook and Linkedin. The New York software developer agreed to block the bulk of all commercial customers from using its database, in order to settle a lawsuit brought forward by [...]
Tinder owner sues Google in bid to avoid 30 per cent in-app purchase fees May 10, 2022 Dating app conglomerate Match Group has sued Google in a bid to block it from charging hundreds of millions in fees on purchases made through the Google Play Store. The Tinder owner said it had filed its lawsuit as a “last resort” in its bid to block Google from charging a 15 per cent “tax” [...]
Sanjeev Gupta’s GFG Alliance faces bankruptcy fight after Credit Suisse leaves the table May 10, 2022 Sanjeev Gupta’s GFG Alliance faces the prospect of bankruptcy after its main creditor, Credit Suisse, exited negotiations with the steel business over repayment of its debts. GFG Alliance is set to face an insolvency hearing next week after Credit Suisse, pulled out of settlement negotiations, the Financial Times first reported. Under UK laws, creditors can [...]
EU mulls plans to ban insurers from insuring ships carrying Russian oil May 9, 2022 The European Union is considering banning insurers from insuring ships carrying Russian oil, as another means of draining Russia of the financial resources it needs to continue bankrolling its war in Ukraine. If brought into force, the new sanctions would come as another blow to Russia’s energy export industry, as the EU also weighs up [...]
Audit giant Mazars ups size of London offices with new City premises next to Old Bailey court May 9, 2022 French auditor Mazars is set to move into new City of London premises after setting out plans to expand the size of its office space by 10 per cent. The accountancy firm is set to move from its current offices in Tower Bridge House to new, larger City of London premises at 30 Old Bailey. [...]
London’s elite Magic Circle law firms promote record number of partners as talent war rages on May 9, 2022 London’s prestigious Magic Circle law firms have promoted a record number of partners this year, in a sign the battle for talent is raging on at the most senior levels of the UK’s top firms. London’s five Magic Circle law firms – Clifford Chance, Freshfields, Slaughter and May, Linklaters, and Allen & Overy – promoted [...]
Law Society calls for ‘change of culture’ to fix legal sector’s mental health crisis May 9, 2022 The head of the Law Society has said law firms have a “collective responsibility” to fix the legal sector’s mental health crisis. Law Society president I. Stephanie Boyce has called for a “change of culture” in the legal sector, to prioritise mental health in the workplace. The comments come amid concerns over poor mental health [...]
Law firms face moral dilemma over Russia exit as Ukraine crisis reveals widening split May 9, 2022 Following Vladimir Putin’s decision to send Russian troops into Ukraine on 24 February 2022, major companies from across the globe began cutting their links to Russia. As multinationals from across Western world, including McDonald’s and Coca Cola, piled out of Russia, a number of high-profile law firms also sought to distance themselves from the country, [...]