Hackers pilfer $600m from Ronin Network in massive crypto attack March 30, 2022 Hackers have stolen almost $600m from a blockchain network connected to the Axie Infinity online game in one of the largest crypto attacks ever.
Coalition of football clubs file lawsuit against insurers in wake of landmark Axa ruling May 17, 2022 A coalition of football clubs have filed a multi-party lawsuit against six major insurers seeking a larger payout for money lost during Covid-19, after the UK’s Supreme Court said businesses are allowed to reclaim losses suffered due to the impacts of the pandemic. A consortium of 20 separate claimants – including Arsenal, Liverpool, and Aston [...]
Arsenal, Tottenham, Liverpool and 17 other top clubs hire City firm to take on UK’s biggest insurers in mega football claim May 17, 2022 Some of England’s biggest football clubs – including Arsenal FC, Aston Villa FC, Tottenham Hotspur FC and West Ham FC, have instructed City law firm Clifford Chance to launch a multi-party action against some of the biggest insurance players in London. The group of 20 claimants, which also includes Liverpool FC and Leicester City FC, [...]
Exclusive: City of London Police’s asset forfeitures jump by 3,600 per cent as priority shifts to higher-value fraud May 27, 2021 The City of London Police issued Account Freezing Orders and Account Forfeiture Orders against assets worth £36m last year, compared to less than £1m in 2019, a jump of 3,600 per cent, according to research by law firm RPC, exclusively shared with City A.M. this evening. Account Forfeiture and Account Freezing Orders allow authorities to [...]
Litigation funders’ cash pipeline hits £2bn for the first time amid growing popularity April 28, 2021 The value of the pipeline of court cases and cash held by top UK litigation funders has hit £2bn for the first time as the asset class grows in popularity. The value held by litigation funders has rocketed in recent years, according to data by law firm RPC, with funding doubling in three years from [...]
Mark Kleinman’s must-read column: Apollo, Ofgem and Hargreaves Lansdown May 18, 2023 Mark Kleinman is Sky News’ Business Editor and writes a must-read column for City A.M. on the biggest business stories of the week Apollo’s failed missions will make take-private landings harder Apollo and ground-breaking missions of accomplishment have long been synonymous. Right now, for the US-based investment firm of the same name, simply getting the [...]
British businesses sell-off assets to offset Covid debt stress July 12, 2021 British businesses are sharpening their focus on longer term plans by disposing of non-essential assets at a rapid pace to offset debt taken on during the Covid pandemic, according to new figures published today. The value of carve-out deals by UK firms surged 182 per cent over the last year to £30.8bn, up from £10.9bn [...]
City Moves: Who’s switching jobs in the Square Mile this week? February 1, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Knight Frank Knight Frank has posted a new head of London offices to its UK commercial business. Philip Hobley, who has been co-chair of London offices at the property consultancy since 2016, brings over 25 years of experience to the [...]
Online Harms Bill: Lawyers warn new rules will have ‘chilling effect’ and hit businesses unnecessarily hard April 27, 2022 Broad and far-reaching legislation to tackle online harms could place a major burden on companies, particularly small businesses, lawyers told City A.M. today. The Government’s Online Harms Bill, published in March, seeks to address illegal and harmful content on the Internet with the aim of safeguarding UK citizens online. Companies that don’t comply with the [...]
City police opened 50 per cent more Covid loan fraud probes in February May 24, 2021 City of London police commenced 50 per cent more investigation into fraud connected to the government’s Bounce Back Loan scheme (BBLs) in February than the prior month. Police opened 26 such probes in February, up from 17 in January, international law firm RPC said. It opened a further 28 in March. Back in October the [...]