Small law firms are let off from economic crime tax September 23, 2021 Small law firms have escaped the UK government’s Economic Crime Levy, aimed at raising £100m annually from anti-money laundering (AML) regulated organisations, to help pay for the fight against economic crime. Instead, AML-regulated organisations, including legal practices, banks and accountancy firms, with revenues above £10.2m will be subject to the new tax. The Economic Crime [...]
Meet Deborah Finkler: The first female leader of City firm Slaughter and May September 23, 2021 Deborah Finkler will be Slaughter and May’s first female managing partner as the Magic Circle firm restructures its executive team. Finkler, a graduate from the University of Cambridge, where she studied economics and law, became a partner at Slaughter and May 30 years ago, after five years as an associate at the company. She was one [...]
Liz Truss visits Mexico to boost support for UK to join trade bloc CPTPP September 23, 2021 Foreign Secretary Liz Truss will travel to Mexico today to build support for the UK to join one of the biggest free trade areas in the world and boost Britain’s diplomatic ties with the country. “Closer ties with Mexico,” Truss said, “are a key part of our plan to strengthen economic, security and diplomatic links [...]
FTSE 250 group Investec expects 125 per cent UK profit growth September 23, 2021 Wealth manager and banking group Investec has raised its earnings guidance following a rebound in revenue, with its UK wealth division growing 9 per cent to £45bn. The Group said its UK business’ adjusted operating profit are now expected to be at least 125 per cent higher than the first half of 2021. The Anglo-South [...]
Deloitte partners average pay close to £1m as Big Four profits surge September 23, 2021 Deloitte’s UK partners will pocket around £1m on average as the Big Four’s revenues have seen a revival driven by a demand for advice during the pandemic, according to the Financial Times, which first reported the news. The payout to 700 equity partners at Deloitte, who received an average of £731,000 from profit shares last [...]
Legal giant Ashurst: One in three of our new recruits will have ethnic minority background September 22, 2021 International law firm Ashurst has announced wide-ranging diversity targets for both its global and UK offices to reach in the next five years. The new targets expand the company’s focus areas to include more LGBTI+ representation, gender equality and ethnicity targets in the UK. In its UK offices, Ashurst aims for 35 per cent of [...]
Rising UK fraud levels branded a ‘national threat’ by banks September 22, 2021 Financial fraud rose by 30 per cent in the first half of 2021 resulting in losses of over £750m, according to the latest fraud report by banking trade body UK Finance, published this morning. Authorised push payment fraud, where consumers were unwittingly scammed into approving a payment into a criminally-controlled account, increased 71 per cent [...]
DAZN in talks to buy BT Sport September 22, 2021 Sports streaming service DAZN is in late stage conversations to buy BT’s sports business, according to the Financial Times which first reported the news. The chairman of DAZN, Kevin Mayer, reportedly told an industry conference that he would “love to have EPL [English Premier League] ultimately,” and was “possibly” interested in BT Sport. The TV [...]
Entain caught between US rivals DraftKings and MGM as £18bn takeover looms September 22, 2021 Ladbrokes owner Entain has confirmed a £18.4bn takeover bid by US betting giant Draftkings which puts the FTSE 100 company at the centre of a battle between its US partner MGM and its prospective buyer. In a statement published yesterday, the board of Entain confirmed it had received a second takeover offer from Draftkings on [...]
Mishcon de Reya announces new merger ahead of IPO September 21, 2021 Law firm Mishcon de Reya has agreed a merger with life sciences specialist Taylor Vinters after recently confirming its plans to go public on the London Stock Exchange (LSE). The deal will result in a new legal and consultancy business, named MDR Taylor Vinters, which will be led by Taylor Vinters’ management team. Mishcon said [...]
