By: Rosie Harris-Davison

News Reporter Rosie Harris-Davison is a News Reporter in the Professional Services team, covering the Big Four, law, advisory, and beyond. She previously wrote about tech policy, regulation, and litigation for specialist legal publication Lexology. Email Rosie at rosie.harris-davison@cityam.com.

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Condé Nast UK profits slump by more than a third as sale scrapped

October 18, 2026

Profits at the UK arm of publishing giant Condé Nast fell by more than a third last year, according to new figures published after the family that owns the Vogue publisher ruled out a sale. The publisher saw pre-tax profits excluding exceptional items plummet 36 per cent from £28m in 2024 to nearly £18m last [...]
Omaze in court over tax dispute on luxury house prize draws

October 16, 2026

Luxury house prize draw platform Omaze has appealed against HMRC over whether paid entries in its prize draws are subject to standard-rate VAT. An Omaze spokesperson told City AM the platform “has been paying VAT in the UK since 2021.” Omaze lists itself on its website as “not a charity raffle, house or cash raffle [...]
FCA revokes ban on Libor traders after court overturns rate-rigging convictions

October 16, 2026

The financial watchdog has revoked bans it had placed on four City traders convicted of rigging Libor and Euribor interest rates after the Court of Appeal overturned their convictions. The Financial Conduct Authority (FCA) said on Friday it “has reviewed its regulatory action against individuals whose convictions have recently been overturned by the Court of [...]
Lloyd’s underwriters seek to halt £45m legal cover for Petrofac bribery defendants

October 15, 2026

A group of Lloyd’s syndicates have sought to block £45m in defence funding for two former Petrofac executives facing a criminal bribery trial. The group of syndicates provided directors’ and officers’ (D&O) insurance coverage to Petrofac’s former chief operating officer, Marwan Chedid, and former chief operations officer George Salibi. Chedid and Salibi rely on Petrofac’s [...]
Law firms’ billing model faces disruption as clients turn to AI DIY advice

October 15, 2026

Law firms are facing a new challenge as corporate clients are increasingly using their own in-house legal teams and AI tools to do legal work themselves, threatening the traditional growth and revenue model. According to new research from HSBC in their yearly UK Law Firm Strategy and Investment Survey, almost three-quarters of 100 law firms [...]
Wayfair among firms hit with £6m fine for ‘misleading’ sales tactics

October 14, 2026

Online retail giant Wayfair is among three firms fined £6m by the competition watchdog for misleading sales tactics. The Competition and Markets Authority (CMA) said on Wednesday it fined Wayfair £4.8m for misleading customers with false limited-time offers that did not end when they said they would. This follows an investigation in which the CMA [...]
Meta challenges Ofcom in court for ‘acting irrationally’ in fine and fee pricing

October 13, 2026

Meta has challenged the UK regulator in court over how it calculates fees and fines under the UK’s online safety law, as it argued the methods are disproportionate and unlawful. The tech giant has questioned the media regulator, Ofcom, over its definition of ‘qualifying worldwide revenue’, which it uses to calculate financial penalties and fees [...]
Former City trader’s rate rigging conviction overturned

October 9, 2026

A former City trader previously convicted of rigging the Euribor interest rates has had his fraud conviction overturned. Christian Bittar, formerly a trader at Deutsche Bank, had his conviction overturned by the Court of Appeal on Friday after being sentenced to five years in prison for rigging the primary European interest rate, the Euro Interbank [...]
Businesses could face flood of ‘trivial’ compensation claims over GDPR worries

October 8, 2026

Businesses could face a “raft” of “trivial” data protection claims if the Supreme Court rules compensation can be won for emotional distress or anxiety caused by data breaches without needing to prove any harm actually occurred, in a hearing set to conclude on Thursday. The case was originally brought by 432 current and former police [...]
Bolt set for £190m VAT bill after legal defeat

October 8, 2026

Ride-hailing platform Bolt has been refused permission to appeal a case brought by HMRC over how it calculates and pays its VAT. This follows HMRC winning an appeal in June against the Estonian tech giant over its VAT payments and calculations, overturning earlier decisions that had ruled in Bolt’s favour. The tax authority brought the [...]

Fifa’s disciplinary rules have changed: What clubs, players and agents need to know now

Fifa’s disciplinary rules have changed: What clubs, players and agents need to know now

Ian McKellen flirts with Ncuti Gatwa in delightful Frank and Percy film – review

By: Rosie Harris-Davison

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