Immigration rules: open for business December 16, 2012 FIGURES from the 2011 census revealed that 27 per cent of London’s population – some 1.9m people – is foreign-born. Hedge funds, banks, professional services firms, so much of London’s economy depends on its ability to attract and retain skilled international talent. Many come from inside the EU. There are now 579,000 Polish-born immigrants in [...]
Herbert Smith Freehills launch forms top 10 firm by headcount September 30, 2012 A MERGER to create the world’s eighth-largest law firm will go live this morning, as the tie-up between Herbert Smith and Freehills is officially launched. Announced in June, the full equity merger between Herbies – which employs more than 700 lawyers in London – and Australia’s Freehills will result in a firm employing more than [...]
UBM flies back to UK after near unanimous vote November 26, 2012 PUBLISHING company UBM will move its tax base back to Britain by the end of the week after shareholders overwhelmingly voted for the return from Ireland yesterday. The transition was emphatically approved at a special meeting, with 99.997 per cent of votes cast in favour of the move. The former owner of the Daily Express [...]
The Treasury will gain nothing from property tax hikes December 4, 2012 A S THEY consider a “back-door” mansion tax and another increase in stamp duty in today’s Autumn Statement, George Osborne and Vince Cable should take a quick look at a dramatic drop in tax receipts after the last Budget. In March, stamp duty was hiked to 7 per cent for people buying property over £2m [...]
Cameron mulls visa curbs on EU migration October 7, 2012 THE GOVERNMENT yesterday indicated that it could introduce visa restrictions for some EU citizens in an attempt to net reduce immigration into the UK. Both David Cameron and home secretary Theresa May indicated their support for the plan, which has been added to a wide-ranging Whitehall review of Britain’s relationship with Europe. “I believe in [...]
Top law firm profits smash through £5bn September 3, 2012 COMBINED profits at the UK’s 100 biggest law firms have topped £5bn for the first time, as the legal sector’s recovery continues to outpace the rest of the economy. Total billings by the UK’s 100 largest law firms hit £17.67bn in the 2011-12 financial year, sending profits eight per cent higher to £5.39bn, according to [...]
Boris: It must be harder to strike September 17, 2012 BORIS Johnson yesterday launched a hard-hitting attack on the power of trade unions in a move that revived suggestions that he is positioning himself to run for leadership of the Conservative party. Setting out his proposals to combat hard-line union activism, the Mayor of London called for a clampdown on the ability of organised labour [...]
Herbert Smith merger to form top 10 law firm June 28, 2012 CITY law firm Herbert Smith announced yesterday that it is to merge with Australia’s Freehills, in a tie-up that will create one of the world’s top 10 law firms by headcount. Herbies, which employs more than 700 lawyers in its London offices, will combine with the Australian firm to create a business with historic joint [...]
City lawyer is jailed for fraud May 30, 2012 A CITY lawyer was sentenced to three years in prison yesterday, after admitting four counts of expenses fraud against his former employer. Christopher Grierson, a former litigation partner at Hogan Lovells, claimed £1.27m in travel expenses from the firm over four years before the fraud – described as “sophisticated” – was uncovered in 2011. QEB [...]
CITY MOVES | WHO’S SWITCHING JOBS August 2, 2012 Carmignac Gestion The asset management firm has appointed Cora Pfab as sales manager for southern Germany and Austria. She joins from F&C Thames River and relocates from London to Carmignac Gestion’s German office. Pfab has extensive experience in financial services, and has also worked at ABN Amro Asset Management. Duff & Phelps The financial advisory [...]