By: Maria Ward-Brennan

Senior Reporter Maria Ward-Brennan is a senior reporter focused on law and professional services. Contact her via email on maria.ward-brennan@cityam.com or X (Twitter) @MariaW_B

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PwC shrinks global headcount amid $1.5bn AI drive

October 28, 2025

Big Four giant PwC has shrunk its global workforce for the first time since 2010, trimming staff numbers by nearly 6,000, as the chairman cited investments in AI tools. In its annual report, published on Tuesday, PwC firms reported record gross revenues of $56.9bn for the 12 months ending 30 June 2025, marking a 2.7 [...]
Lawyers to rethink personal tax structures as Reeves set to target LLPs

October 28, 2025

Chancellor Rachel Reeves’s proposed tax raid on LLPs may force partners to work longer or reconsider their retirement plans, with significant financial implications for many professionals. It was reported last week that Reeves is targeting limited liability partnerships (LLPs) in a tax raid as she tries to fill a fiscal black hole. The proposed 15 [...]
Sweet relief: Ferrero’s Nutella biscuits remain VAT-free snack

October 28, 2025

A Tax Tribunal ruled in favour of Ferrero UK, stating that their ‘Nutella Biscuits’ are zero-rated for VAT, in yet another food battle HMRC has had over the bizarre tax rules around food. The case centred on whether the ‘Nutella Biscuits’ were “biscuits… partly covered with chocolate or some product similar in taste and appearance” [...]
British businesses lead the world in risk management

October 28, 2025

UK businesses lead global peers in risk oversight, with nearly eight in ten British businesses reporting that boards are directly involved, a figure significantly higher than global peers. According to Aon’s new ‘global risk management survey’, senior leadership in the UK is taking on greater responsibility for the risks their businesses face, as three-quarters of [...]
Massa £64m damages case against F1 and Ecclestone set for court this week

October 28, 2025

Legal action over the controversy of the F1 2008 crash, dubbed ‘crashgate’, is set for the English High Court this week, where a judge will hear allegations from Felipe Massa that the aftermath cost him the 2008 Championship. Brazilian driver Massa competed in F1 from 2002 to 2017, serving with several teams, notably Ferrari. During [...]
City watchdog accused of ‘massive overreach’ in motor finance clampdown

October 28, 2025

The Financial Conduct Authority (FCA) has been accused of a “massive overreach” following letters sent to law firms and claims management companies (CMCs) requesting batches of information under the new Digital Markets, Competition and Consumers law. The FCA sent letters in August, seen by City AM, requesting information on the law firms’ motor finance services, [...]
Smuggling gangs likely to capitalise on tobacco bill, experts say

October 27, 2025

As the Lords debate Labour’s tobacco and vapes Bill, experts have warned it could hand a major victory to the same organised criminal gangs behind illegal smuggling. Labour’s proposed Bill, which started the committee stage at the House of Lords on Monday, would create a generational ban on tobacco sales and implement stricter regulations on [...]
EY UK bounces back with growth in most divisions but consulting lags

October 27, 2025

Big Four giant EY UK has seen a bounce back after its fee income grew by 2 per cent over the last financial year to £3.78bn, with the majority of its divisions seeing growth. The firm’s distributable profits before tax grew by over 3 per cent, from £653m in FY24 to £679m, while the giant also reported [...]
The compromising iPad photos that dragged a London quant trader to court

October 25, 2025

It’s never easy moving jobs in the Square Mile – especially for the higher ups. Once you reach a certain seniority, your employer frets over the threat posed if you jump ship – what strategic information you could take with you. That was true for a London-based quant firm called G-Research, after one of its [...]
Sheffield Wednesday enter administration owing £1m in unpaid tax

October 24, 2025

Struggling Championship club Sheffield Wednesday have filed for administration amid mounting financial issues under the stewardship of Dejphon Chansiri. Thai tuna tycoon Chansiri has owned the Hillsborough club for a decade but the Owls have been under pressure to pay staff for a number of months, and reportedly owe around £1m in unpaid tax to [...]

Trump calls on Starmer to help secure Strait of Hormuz

Arsenal: Leading the digital charge as well as the Premier League

Spirit of Speyside Whisky Festival to drive millions into Scotch sector

By: Maria Ward-Brennan

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