China doubles-down on zero-Covid policy November 5, 2022 China is set to continue with its current approach to tackling Covid-19, Chinese government officials said on Saturday. China will persevere with its “dynamic-clearing” approach to tackling Covid, officials from the China National Health Commission told a news conference today. The statements follow claims made by a former Chinese disease control official, at a conference [...]
US law firms get their money’s worth by working lawyers almost 14 hours a day November 5, 2022 London trainee lawyers at top US law firms are working nearly 14 hours a day, new research shows. Junior and trainee lawyers at Chicago headquartered firm Kirkland & Ellis work the longest hours, in starting at 9:19am and clocking off at 11:11pm, research from Legal Cheek shows. The rankings show all ten of the law [...]
Twitter lay-offs begin as Elon Musk warns of ‘massive drop’ in revenues November 5, 2022 Elon Musk has begun laying off thousands of Twitter workers after warning the social media company is losing more than $4m a day due to a “massive drop” in advertising revenues. The tech billionaire began pushing forwards with plans to lay off around half of Twitter’s 7,500 staff, just more than a week after completing [...]
UK’s new government should simply ‘get on’ with audit reform, letter to Rishi Sunak says November 4, 2022 The UK’s new government should simply “get on” with plans to overhaul the audit sector, to ensure the long-term stability and resilience of Britain’s economy, the head of one of the country’s largest accountancy sector trade bodies has said. In three separate letters to prime minister Rishi Sunak, business secretary Grant Shapps and chancellor [...]
Severe disruption on entire TfL tube network as flooding hits London November 3, 2022 Flooding in west London, after a night of heavy downpours, is causing severe delays on London’s tube system and has led to the closure of multiple roads, Transport for London (TfL) has warned. Signal failures, caused by flooding in Richmond and Acton Town, have created severe delays on the District, Piccadilly, and London Overground, TFL [...]
British companies are failing to keep up with criminals, in-house lawyers warn November 3, 2022 In-house lawyers working in major British companies are becoming increasingly concerned that the firms they work for are failing to keep up with the methods being used by criminals to carry out financial crime. More than two-thirds of in-house lawyers surveyed by law firm Ashurst said they have concerns about their companies’ abilities to keep [...]
Glencore told to pay £281m over international bribery scandal November 3, 2022 A London judge today told a UK subsidiary of Glencore to pay a total sum of £281m over an international bribery scandal that saw its staff pay almost $29m (£25.6m) in bribes to officials in Africa. At a sentencing hearing today, Judge Peter Fraser said a “culture” of bribery was “endemic” within Glencore’s West Africa [...]
Trainline’s earnings triple as rail sector continues recovery from Covid-19 November 3, 2022 Ticket seller Trainline today said its earnings are up three-fold compared to 2021 amid the rail industry’s recovery from Covid-19. The online coach and train ticket seller said its revenues had increased more than two times over to £2.16bn, in an uptick that saw its adjusted earnings triple to £45m. The London headquartered company generated [...]
Glencore execs used private jets to fly cash bribes to Africa, court hears November 2, 2022 Glencore executives used private jets to fly millions of dollars in bribes to officials in Africa to boost their oil trading activities, a London Court heard today. Traders on Glencore’s London-based West Africa trading desk organised to have bribes, which were withdrawn from the commodity trader’s offices in Switzerland, flown to officials in Cameroon and [...]
Court blocks ‘Essex boys’ traders’ bid to overturn City watchdog’s decision November 2, 2022 A group of oil traders, dubbed the “Essex boys,” who made $700m (£614m) from the collapse in oil prices that saw crude trade negatively at the start of Covid-19, have failed in their bid to overturn a decision by the UK’s financial watchdog to assist US authorities. Traders linked to oil brokerage Vega Capital London [...]
