Judge dismisses lawyer’s harassment claim warning against ‘a culture of hyper-sensitivity’ August 3, 2021 A lawyer, who claimed she was unfairly dismissed from her £100,000-a-year job after being sexually harassed, has lost her case after a judge warned against “encouraging a culture of hyper-sensitivity”. Nirosha Sithirapathy, who worked as legal counsel at pharmaceutical research company PSI CRO UK, claimed that she was discriminated against because of her age and [...]
Insurer Direct Line’s first-half profits rise as pandemic restrictions ease August 3, 2021 Insurer Direct Line has today reported a rise in its earnings for the first half of the year, despite a difficult car insurance market, which its home businesses offset. The company reported an operating profit of just under £370m for the six months ended June 30, an increase from £265m a year earlier. Direct Line [...]
EY to pay $10m to settle SEC misconduct charges August 3, 2021 Ernst & Young and three audit partners settled charges with the Securities and Exchange Commission (SEC) over claims of misconduct in their relationship with the chief accounting officer of a US company, it is widely reported. The big four firm agreed to a $10m (£7.2m) settlement to close the case on charges of audit independence [...]
BMW raises 2021 profit forecast, but warns chip shortage will hit second half August 3, 2021 BMW has raised its profit forecast for 2021 today announcing strong quarterly results while warning investors about the impact of the global semiconductor chip shortage on the carmaker. The company saw “strong customer demand during the first half of the year,” according to a statement by chief executive Oliver Zipse. “However,” he continued, “in light of [...]
Civil fraud cases jump by 50 per cent and could rise as UK feels full covid economic impact August 2, 2021 The number of civil fraud cases heard in the courts has increased by 50 per cent in a year marred by the pandemic according to new analysis published today by international law firm RPC. Cases in the courts of England and Wales went up from 61 in 2019 to 94 in 2020. RPC blamed the [...]
Sports Direct owner Frasers Group set for ‘upbeat’ update after reopening stores July 30, 2021 An “upbeat” trading update is reportedly expected from Mike Ashley’s Frasers Group, which owns Sports Direct, in the hope that the reopening of high street stores have pushed up sales The retail giant was more cautious in its outlook in April despite the reopening of retailers across the UK. It warned it could take a [...]
Goodwin ups newly qualified lawyers pay to £147k in a second rise this year July 30, 2021 US law firm Goodwin Procter has bumped up the salaries of its newly qualified (NQ) lawyers in London for the second time this year, City A.M. understands. Junior lawyers at the firm have been given a pay increase of 7 per cent bringing their annual salary to £147,000 less than six months after Goodwin gave [...]
More IPO leaders called Steve than female led ones July 30, 2021 Female founded IPOs have accounted for 3.6 per cent of all IPOs since 2016, according to new research. The data, which reviewed the last five years of IPO activity, showed that out of the 276 companies that went public on the London Stock Exchange between 2016 and 2020 – just ten were led by a female CEO or founder. [...]
Mishcon de Reya and ex partner face prosecution by solicitors regulator over sports clients money July 30, 2021 Mishcon de Reya and its former head of sport are being prosecuted by a legal regulator for how the prestigious city law firm handled money for some of its sports clients. Both Elizabeth Ellen, who stepped down as a partner at Mishcon to set up a sports consultancy last year, and the law firm would [...]
Budget delay hinted at as Rishi Sunak fails to name day July 30, 2021 Chancellor Rishi Sunak has sparked speculation of delays to the budget, after failing to announce a date when publishing new forecasts, as is normally expected. Sunak said he had instructed the Office for Budget Responsibility (OBR) to prepare to present an economic and fiscal forecast to parliament on October 27, according to reports. The forecast [...]