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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Federal Reserve hold rates for third time but hints at future cuts

December 13, 2023

The US Federal Reserve has kept interest rates on hold for a third time in a row, as “inflation has eased over the past year but remains elevated”. The announcement from the Federal Open Market Committee (FOMC) today sees the federal funds rate remain between 5.25 per cent and 5.50 per cent, its highest level [...]
Russian director of UK payment company departs after FCA probe

December 13, 2023

The director of a UK payment company that was recently put under notice by the Financial Conduct Authority (FCA) has left the firm. Mikhail Nadel’s position as director of Dzing Finance was terminated on 20 November, according to Companies House documents. Nadel (also known as Michael Strogonov), a Russian citizen, was once the chairman of [...]
Boots could return to London market after 16-year hiatus as US owner considers listing

December 13, 2023

The American owner of Boots is reviving discussions on selling off the UK pharmacy chain, nearly 18 months after a sale process was shelved. According to Bloomberg, Walgreens Boots Alliance (WBA) has been holding talks about ways to separate the UK-based pharmacy Boots, in a deal that could be valued at about £7bn. Back in [...]
MoD slapped with fine over data breach during Afghanistan evacuation

December 13, 2023

The Information Commissioner’s Office (ICO) has slapped the Ministry of Defence (MoD) with a hefty fine for a data breach during the 2021 Afghanistan evacuation. The MoD has been fined £350,000 for disclosing personal information of people seeking relocation to the UK after the Taliban took control of Afghanistan. Shortly after the Taliban took control [...]
EY to slash over 100 US jobs as part of ‘long-term’ transformation for Big Four firm

December 12, 2023

EY is cutting over a hundred more jobs in the US as the firm in the midst of “transforming” its business, following split fail earlier this year. The Wall Street Journal (WSJ) reported that the job cuts are largely concentrated on the advisory side of its US operations. It is reported that 10 per cent [...]
EY set to close yet another legal arm of its business

December 12, 2023

EY is shuttering its legal arm in Hong Kong in January, which makes it the second closure action the firm has taken against its legal services. On 23 January, the Big Four firm will close its Hong Kong law member firm, LC Lawyers, according to Bloomberg News. LC Lawyers advised on Hong Kong IPO and [...]
Begbies Traynor acquires midlands firm of property auctioneers

December 12, 2023

Professional services that act as a restructuring specialist, Begbies Traynor Group has completed the acquisition of a national firm of property auctioneers.
FRP Advisory profits soar due to uptick in restructuring activity

December 12, 2023

Professional services firm FRP Advisory's revenue jumped 19 per cent in the first half of 2023 as its restructuring team was more active this year.
UK legal market sees revenue hit record level

December 12, 2023

Revenue generated by legal activities in the UK hits its highest level in more than a decade, as the sector generated £43.7bn over 2022/23. In a new report by TheCityUK, much of the £43.7bn figure was generated by the top 100 UK law firms, who netted more than £33.7bn in 2022/23. This figure was up [...]
HMRC seeks more audit files from EY in property tycoon’s tax dispute

December 11, 2023

Counsel for HMRC asked the court this morning to see more of EY’s audit files in relation to the property tycoon’s tax affairs dispute. HMRC filed a claim to the High Court against the Big Four firm over allegations it misrepresented its client tax affairs to the HMRC. The client was the British property investor [...]

Cricketing star Ben Stokes takes stake in alcohol-free Cleanco

US PGA prize money 2025: How much golfers earn at the major

Art’otel London Hoxton, review: an unlikely Shoreditch icon

By: Maria Ward-Brennan

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