How much does a lawyer cost? Top lawyers’ hourly rates are now so high that they’re restricting access to justice, as researchers slam the tradition of the billable hour February 5, 2016 Top corporate law firms have hiked their fees so high that it's now preventing access to justice. According to a report released today by the Centre for Policy Studies, an hour of a partner's time at a leading London law firm could land people with a bill for £1,000. The researchers blame a increase in [...]
Hound of Hounslow trader Navinder Singh Sarao allegedly “heavily engaged” in spoofing on day of “flash crash” February 4, 2016 Lawyers for the US government in an extradition case against a British trader nicknamed the "hound of Hounslow" have said that he was allegedly heavily invested in spoofing on the day of the flash crash. Navinder Singh Sarao, who appeared in Westminster Magistrates' Court today, has been accused of contributing to 2010's so-called flash crash. [...]
Beazley share price up as insurer reveals a boost to profits for the year ended December 2015 and a planned move to London from Ireland February 4, 2016 Beazley today revealed it was eyeing a return to the UK from lower-tax jurisdiction Ireland as it reported a boost to its profits for the year. The insurer announced that it had made profit before tax of $284m (£194.7m) for the year ended December 2015, which is up eight per cent from $261.9m the year before. "Beazley increased [...]
UK pensions: Three-quarters of UK employees are anticipating being worse off in retirement than their parents, and those who are worried about money are more likely to be out of the office unwell February 3, 2016 Sons and daughters spend much of their childhood trying to imitate their parents, but their inability to mimic their pension pot has left them with a sense of worry. Research released today by professional services firm Willis Towers Watson has discovered that almost three-quarters of UK workers think that their parents' generation will benefit from a [...]
“Flash crash” trader Navinder Singh Sarao due to appear in London court tomorrow facing extradition to the US February 3, 2016 The British trader accused of contributing to May 2010's "flash crash" is due to appear in court tomorrow where he faces extradition to the US. US authorities have alleged that Navinder Singh Sarao, who has been nicknamed the "hound of Hounslow", rigged the market by using an automated process to place a large number of sell orders before withdrawing them shortly afterwards [...]
Zurich Insurance Group share price down as insurance company’s risk chief reveals in an interview that it may narrow down some of its business after being knocked back by claims February 3, 2016 A member of Zurich Insurance Group's management has stated that the insurer is looking to slim its business after taking on more claims than expected last year. In an interview with Bloomberg, which was published this morning, Cecilia Reyes, Zurich's risk chief, said: "We were surprised, obviously, by the poor underwriting results in the general insurance [...]
War on talent: Employee retention tactics not up to scratch at many mid-sized firms February 3, 2016 NULL
Brexit would make red tape worse but lawyers are not doing very much in advance to prepare, warns city law firm White & Case February 3, 2016 Legal experts are warning that Britain leaving the EU would not help to cut red tape, although many have opted to adopt a wait and see approach to preparation. According to a report released today by city law firm White & Case, four out of five (84 per cent) in-house lawyers believe that leaving the [...]
RSM now sixth biggest accountancy network in the world, narrowly overtaking Grant Thornton, with six per cent fee income growth for year ended December 2015 February 3, 2016 RSM has today announced it achieved six per cent growth for fee income in the year to December 2015, meaning the accountancy network has narrowly overtaken Grant Thornton to become the sixth biggest worldwide. The firm, which was previously in seventh place in the global rankings and currently has over 750 offices across 120 countries, [...]
UK adults expecting a big windfall from inheritance are set to be sorely disappointed, with one in ten mistakenly believing that the payout they predict will fund their retirement February 3, 2016 UK adults are routinely overestimating how much they stand to inherit, while also shunning valuable discussions about financial planning with older relatives. According to figures shown exclusively to City A.M. by VouchedFor, people expect to receive an average of £127,454 from inheritances, and one in ten believe that they are set to receive an inheritance [...]
