KPMG UK merges consulting and deal advisory units – but says it isn’t linked to recent job cuts October 26, 2023 KPMG UK stressed, however, that the move is not linked to recent job cuts tied to the collapse in dealmaking.
Revolution Beauty picks former Walgreens exec as new boss August 31, 2023 Revolution Beauty has narrowed its losses and appointed a new boss as it tries to put behind it historic issues and a spat with top shareholder Boohoo.
Serious Fraud Office shuts Rio Tinto and ENRC corruption probes August 24, 2023 The UK's Serious Fraud Office (SFO) has closed its long-running corruption investigations into Rio Tinto and Eurasian Natural Resources Corporation (ENRC), the agency said today.
Law firms face four month payment delay as cash flow fears raised if economy tanks August 9, 2023 UK law firms are being forced to wait over four months to get paid by clients, new data reveals, spotlighting potential cash flow issues firms could face if the economy nosedives. The average time the UK’s top 100 law firms are waiting to get paid is 124 days, according to research from accountancy firm Lubbock [...]
Global insurers left with $50bn natural disasters bill after wave of severe US storms August 9, 2023 Global insured losses from natural disasters have reached $50bn so far this year, with severe US storms accounting for almost 70 per cent of the costs, according to new data. The main driver in the spike in insured losses was severe thunderstorms in the US, which accounted for 68 per cent, about $34bn, of all [...]
City minister slams British investors ‘defunding’ UK defence giants like BAE August 7, 2023 City minister Andrew Griffith has slammed UK investors’ decision to move away from the country’s top defence firms such as BAE Systems. According to data from the London Stock Exchange, reported by the Financial Times, fund managers based in the UK have cut their holdings in defence firms, including BAE Systems and Qinetiq, by around [...]
UK firms see audit costs climb as fines and skills shortage push up auditors fees August 7, 2023 The total amount in audit fees paid by the UK’s largest 500 companies has risen by 14 per cent in the past year, according to new data. The value of audit fees paid by these firms rose from £1.12bn to £1.27bn for the 2021/22 financial year, according to new research by Thomson Reuters. It said [...]
Santander, Lloyds face £1bn car finance claim for pushing customers into pricey deals August 6, 2023 Santander and Lloyds face a new UK lawsuit over alleged “anti-competitive agreements” they had with car dealerships that pushed customers towards more expensive finance options when they were buying second-hand cars. The claim, filed at the Competition Appeal Tribunal last month, targets three of the largest motor finance providers: Santander UK, Black Horse, which is [...]
New SFO director has ‘a massive mountain to climb’ as the anti-fraud agency looks to rebuild July 26, 2023 The new director of the Serious Fraud Office (SFO) faces a herculean task in rebuilding the agency’s reputation after a number of failures over the last few years, top City lawyers have warned. Earlier this month Nick Ephgrave, the former assistant commissioner of the Metropolitan Police, was appointed as the next director of the agency [...]
Clifford Chance revenues top £2bn for the first time as firm rules out merger July 19, 2023 Law firm Clifford Chance today reported annual revenues of over £2.06bn, surpassing the £2bn mark for the first time. Annual profit, however, came in slightly lower at £781m, down from £783m the previous year. Profit per equity partner was £2m. Charles Adams, Global Managing Partner at Clifford Chance, said the firm delivered another “strong” set [...]
