Fugitive Russian oligarch allowed to sell Belgravia mansion to pay £10m legal fees May 26, 2022 A High Court judge has said fugitive Russian banker Georgy Bedzhamov should be allowed to sell his £35m Belgravia mansion, to pay his lawyers £10m in legal fees. The High Court gave Bedzhamov the OK to sell his mansion on London’s ultra-expensive Belgrave Square, to pay £5m to Mishcon de Reya and a further £5m [...]
Lawyers must work 2,400 hours a year to get coveted partner promotions, Hogan Lovells chief says May 25, 2022 The head of City of London law firm Hogan Lovells has told staff they are expected to work at least 2,400 hours a year if they expect to rise to partner level. In a memo sent out to staff, chief executive Miguel Zaldivar said “success typically means” making an “all in commitment” to the firm, [...]
David Mitchell on acting, cancel culture and why the internet is evil May 25, 2022 On 15 March 2020, David Mitchell took a bow following what he reckoned was the best performance yet of The Upstart Crow, the West End version of Ben Elton’s sitcom about William Shakespeare. The next day the country went into lockdown. “I found the pandemic pretty bleak, really”, says the comedian and panel show host. [...]
Magic Circle law firm Clifford Chance ups pay for junior lawyers to £125,000 a year May 24, 2022 Magic Circle law firm Clifford Chance has upped pay for its newly qualified (NQ) lawyers to £125,000 a year, in a sign the UK’s most prestigious law firms are facing continued pressure to offer huge salaries to their most junior solicitors in order to recruit and retain top talent. The firm told City A.M. its [...]
Crossrail LIVE: First Elizabeth Line train departs after hundreds of excited Londoners wait for hours at Paddington May 24, 2022 The first Elizabeth line train from Paddington through central London departed on time at 6.33am carrying hundreds of excited transport enthusiasts. A crowd of people gathered outside Paddington station in an attempt to to be on the first Elizabeth line train when services begin at 6.30am. There were around 300 people waiting at 6am. Colin [...]
Grosvenor: Central London valuations ‘subdued’ amid Covid side effects May 23, 2022 Property investment firm Grosvenor is back in the black after better fortunes for its 300-acre estate in Mayfair and Belgravia. Owned by the Duke of Westminster, the multibillion-pound portfolio swung back into profit with a pre-tax profit of £327.5m, after posting a £322.8m loss in 2020. The Liverpool ONE shopping centre owner swung back into [...]
Saturday Special: Why the London Stock Exchange and Euronext are moving their datacentres around May 21, 2022 Datacentre exchange colocation is on the mind of many key players in the City and beyond at the moment. The idea appeals to a wide group of capital markets participants, and for various reasons. For example, with Euronext migrating from Basildon in Essex to the Aruba Global datacentre IT3 in Bergamo this year and the London Stock Exchange Group [...]
New York, London and LA top list of most resilient cities while Scandinavia dominates ESG rating May 16, 2022 The most resilient cities in the world have been named as New York, London and Los Angeles, with Scandinavia dominating environmental and social governance. New figures from Savills highlighted how new population centres such as Berlin and Atlanta broke into the top 20 for the first time, but traditionally strong metropolises weathered the pandemic the [...]
Police get free reign as Priti Patel permanently lifts all restrictions on use of stop-and-search powers May 16, 2022 Home Secretary Priti Patel confirmed she is planning to permanently lift restrictions placed on police in the use of stop-and-search powers as part of the Government’s strategy to tackle violent crime. In a letter to police forces on Monday, Patel announced the easing of conditions on the use of the tactics under Section 60 of [...]
Barnet shaken by brutal murder as three Londoners are arrested after 30-year old man dies May 16, 2022 The Metropolitan Police confirmed this morning that three people have been arrested on suspicion of murder following the fatal stabbing of a 30-year-old man in north London. Two men – aged 33 and 25 – and a woman – aged 24 – were arrested on Saturday. The men remain in custody while the woman has [...]