Berkshire Hathaway says shareholders should vote against plans to replace Warren Buffett as chairman March 12, 2022 Berkshire Hathaway has called on shareholders to vote against plans to replace Warren Buffet as chairman of the Omaha headquartered investment company. The Board of Berkshire Hathaway said shareholders should vote down a proposal, put forward by Pennsylvania investment firm Federated Hermes, to separate the positions of Chairman and CEO within the firm. The move [...]
US law firm Squire Patton Boggs drops Russia’s Gazprombank as client March 12, 2022 US law firm Squire Patton Boggs has dropped Russia’s Gazprombank as a client, after closing its Moscow offices. Squire Patton Boggs’ decision to exit its relationship with Russia’s third largest bank comes after the US law firm was hired by Gazprombank in 2014 to lobby against US sanctions, following Russia’s annexation of Crimea. Gazprombank’s relationship [...]
Russia to block Instagram on Monday after branding Meta an ‘extremist organisation’ March 12, 2022 The Kremlin has told Russian Instagram users they have until the end of the weekend to transfer any photos or videos they have saved on the social platform, onto their own computers, after confirming Instagram will be “definitively blocked” from midnight on Monday. The comments come after Russia’s media watchdog, Roskomnadzor, said it will be [...]
US vows to target crypto exchanges that allow sanctioned oligarchs to use their services March 12, 2022 The US has said it plans to target cryptocurrency exchanges that help sanctioned oligarchs move dirty money. The US Department of Justice’s (DoJ’s) KleptoCapture taskforce, which was set up this month to enforce sanctions on Russian oligarchs, is set to prosecute banks and cryptocurrency exchanges that fail to prevent sanctioned individuals from using their services. [...]
Law giant CMS closes Moscow offices after coming under fire for links to oligarchs March 11, 2022 European law giant CMS has said it will close its Moscow offices and withdraw from the Russian market, after Conservative MP Bob Seely named CMS partner Geraldine Proudler as one of four “amoral” lawyers working for oligarchs to silence the press. In a post on Linkedin today, the law firm said it had decided that [...]
European law giant CMS hikes salaries for London and UK trainees March 11, 2022 European law giant CMS has given all of its UK trainees a pay rise. The law firm said its London trainees will get a five per cent pay rise, which will see first year salaries upped to £46,725 a year, and second year salaries rise to £52,5250, CMS told City A.M. The law firm will [...]
Google settles libel lawsuit with Tory MP over defamatory ‘paedophile’ advert March 11, 2022 Google has settled a libel lawsuit brought forward by Conservative party MP Lee Anderson, after the tech company displayed adverts falsely accusing Anderson of protecting peadophiles. Google Ireland issued an apology to Anderson and settled the case out of court, after it hosted a political advert from campaign group “Keeping Kids Safe” on political news [...]
Kremlin threatens to take control of assets owned by multinationals that exited Russia over Ukraine March 11, 2022 The Kremlin has threatened to take control of assets owned by multinational companies that have pulled out of Russia in response to the country’s invasion of Ukraine. Speaking to President Putin yesterday, Russia’s prime minister Mikhail Mishustin said he had prepared a draft law which would allow the Russian government to take control of assets [...]
UK data watchdog fines Tuckers Solicitors £98,000 after hacker leaked legal papers onto dark web March 10, 2022 The UK government’s data regulator has fined London headquartered law firm Tuckers Solicitors £98,000 for failing to properly look after its clients data, after a cyberattack saw almost a million legal documents stolen and leaked onto the dark web. The UK government’s Information Commissioner’s Office (ICO) said the criminal solicitors firm – which has offices [...]
Russian oligarchs look towards Dubai and Israel in efforts to avoid sanctions March 10, 2022 Legal experts have said Russian oligarchs, looking for new jurisdictions to store their wealth, may be turning towards Dubai and Israel due to a lack of other options, as they seek to avoid sanctions and exit Russia’s crumbling economy. Speaking to City A.M. David Savage, head of financial crime at London law firm Stewarts, said [...]
