Supreme Court Google ruling sends shockwaves through legal community November 10, 2021 London’s legal community has been left reeling by the Supreme Court’s decision to vote down a £3bn lawsuit against Google. The action led by former Which? director Richard Lloyd, supported by the campaign group Google You Owe Us, fought to bring a “representative action” against Google for “illegally” collecting Safari browsing data through “clandestine tracking” [...]
Promoting ESG to align the insurance industry to new stakeholder demands November 2, 2021 The global re/insurance industry faces both asset and liability exposure to the climate crisis, as well as opportunities to drive meaningful progress towards global resilience. As a result, insurance and reinsurance are crucial elements in a successful and inclusive transition to a green economy, helping clients to implement ESG mandates, as well as focusing on [...]
How do retail investors feel about returns from sustainable investing? November 1, 2021 We have all heard the story: sustainable funds are in high demand. By the middle of 2021, their assets had reached an unprecedented $2.3 trillion, mainly driven by continued growth in the European fund market (Source: Reuters). Net sales in the first half of 2021 had already overtaken those in 2020, which in turn were more [...]
UK firms now having to pay £50,000+ ‘security bond’ to litigate in EU post-Brexit October 25, 2021 Following the end of the Brexit transition period UK businesses are now having to pay ‘security bonds’ of £50,000 or more to courts in the European Union in order to litigate there, legal experts told City A.M. today. These bonds could make it more difficult and costly for UK businesses to defend their intellectual property [...]
Tory conference: Boris Johnson’s speech in full October 6, 2021 Prime Minister Boris Johnson delivered his second leader’s speech at Conservative conference today. Here is his speech in full. Isn’t it amazing to be here in person the first time we have met since you defied the sceptics by winning councils and communities that Conservatives have never won in before – such as Hartlepool in [...]
Mishcon de Reya launches new £150m litigation financing unit September 8, 2021 Law firm Mishcon de Reya has today announced plans to launch a new litigation funding unit with Harbour, one of the biggest litigation and arbitration funders in the world. The new venture, known as MDR Solutions I, will be used to assess and finance prospective litigation and arbitration cases originated by Mishcon de Reya clients [...]
EY hit with $1bn claim for one of the largest bankruptcies in Swiss history September 7, 2021 EY’s Swiss practice is facing investor claims for giving clean audits to opaque conglomerate Zeromax for years before it collapsed, according to the Financial Times who first reported the news. Zeromax, whose crash in 2010 made it the second-largest bankruptcy in Swiss history, made multimillion-dollar jewellery purchases and made irregular offshore payments – which the [...]
Renaissance hedge fund execs to pay £5bn in back taxes September 3, 2021 Renaissance Technology executives and their family members have agreed to pay $7bn (£5bn) in back taxes and fines as part of a settlement with the US tax authority. The fines, which come as part of the largest tax settlement in US history, relate to trades made by the firm’s Medallion Fund between 2005 and 2015. [...]
The UK’s plans for Afghan refugees will be a test of the nation’s moral character August 26, 2021 The UK has promised to welcome 20,000 Afghan refugees fleeing the Taliban. The proposal looks set to mirror a scheme introduced at the height of the humanitarian crisis in Syria, under which more than 20,000 vulnerable refugees have been resettled by the start of 2021. In its first year, the Afghan Citizens’ Resettlement Scheme will [...]
Ackman of Pershings to relaunch SPAC as damage control from investor lawsuit August 20, 2021 In a letter to the shareholders of the largest SPAC to ever hit the market, billionaire fund manager Bill Ackman said on Thursday he will pursue a relaunch of Pershings, following a lawsuit filed this week by an investor. The lawsuit against Pershing Square Holdings (PSTH) was filed by former US Securities and Exchange (SEC) [...]