Clifford Chance Promotes 28 Partners in Smaller Round
Clifford Chance has promoted 28 lawyers to its partnership, a decrease from last year, reflecting a strategic focus on key practice areas amid a challenging legal market.
Category : Corporate
AI Coding Agent Deletes Entire Database in 9 Seconds
A rogue AI coding agent deleted PocketOS's entire production database and backups in seconds, leaving car rental clients stranded and raising safety concerns.
David Allan Coe, Outlaw Country Star, Dies at 86
Controversial outlaw country musician David Allan Coe, known for hits like 'The Ride', has died at age 86. His career spanned nearly 60 years.
Standard Chartered $190m Iran War Provision
Standard Chartered booked $296m in credit impairment charges in Q1, with $190m linked to the Iran war. Despite this, profit hit $2.5bn, beating estimates.
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Lazard Buys Campbell Lutyens for $575M
Lazard has agreed to acquire Campbell Lutyens for $575 million, boosting its private capital advisory capabilities. The deal strengthens Lazard's position in the growing private markets sector.
City Law Firms Tighten Equity Partnership Access to Protect Profits
City law firms are restricting equity partnerships to top performers, moving away from the all-equity model to protect profits and boost PEP, mirroring US firm strategies.
Green Pay Ratio: China-Thinking Even China Rejected
The Green Party proposes a 10:1 pay ratio between executives and junior staff, a policy that would cap CEO pay at £156k at Amazon, risking talent exodus and job losses.
Assassin's Creed Needs Complete Overhaul, Not Remakes
Ubisoft's remake plans for Assassin's Creed highlight a stale franchise. To survive another decade, it needs creative reinvention, not nostalgia.
Private Equity Wealth Deals Stall Amid AI Uncertainty
Private equity investors are delaying wealth management deals due to growing uncertainty around artificial intelligence, impacting deal flow and valuations.
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Nordic Capital Eyes $1B Valuation for BMLL
Nordic Capital is in talks to acquire a majority stake in market data firm BMLL, valuing it at around $1 billion, signaling strong demand for data analytics in finance.
London Gang Paid Thieves £300 Per Phone in Smuggling Ring
A gang that handled over half of London's phone thefts pleaded guilty. They paid runners £300 per device, smuggling nearly 40,000 stolen phones to China.
Grant Thornton US Acquires Australian Sister Firm
Grant Thornton US is set to acquire its Australian counterpart, boosting its global advisory platform and expanding AI capabilities. The deal is valued at around $800bn.
Barclays CEO Pledges Vigilance After Shadow Banking Hits
Barclays CEO CS Venkatakrishnan pledges stricter lending after £228m loss from MFS and £110m from Tricolor, but overall bank profits rose 3% to £2.8bn.
UAE's Opec Exit Reshapes Middle East Politics
The UAE's decision to leave Opec is a political and business move, reigniting tensions with Saudi Arabia and potentially strengthening US influence in the region amid the Iran conflict.
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Apple After Tim Cook: Can It Regain Innovation Edge?
Guardian US tech editor Blake Montgomery discusses Apple's future after Tim Cook's resignation, its $4tn valuation, AI lag, and new CEO John Ternus.
US Utility CEOs Get 16% Pay Raise to $12.3M Average
A new report reveals that top US utility CEOs received an average 16% pay raise to $12.3 million in 2025, even as customers face up to 40% higher bills and 13 million power shutoffs.
AstraZeneca Invests £300M in UK Sites After U-Turn
AstraZeneca will invest £300m in UK sites, completing Cambridge expansion and building a lab in Macclesfield, reversing earlier pauses.
GC Role Evolves Beyond Legal Gatekeeper, KPMG Says
A KPMG Law report reveals 75% of general counsel now advise outside their legal specialty, driven by complex regulations and AI, signaling a shift to strategic enterprise leaders.
Trans-Atlantic Bid for DCC Lifts Shares to FTSE 100 Top
Dublin-based DCC received a takeover offer from KKR and Energy Capital Partners, sending its shares up 11% to a four-year high. The bid adds to a wave of UK deals.
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DP World Tour Hits $300m Sponsorship Record with HCLTech
The DP World Tour surpasses $300m in sponsorship revenue for the first time after partnering with HCLTech as its official digital experience partner.
Netcompany CEO: Europe must build own AI to avoid data loss
André Rogaczewski warns Europe risks losing data sovereignty to US or China, urging homegrown AI platforms. UK invests £500m in sovereign AI amid debate.
Evercore M&A Fees Surge 123% as Deals Rebound
Evercore reports a 123% surge in M&A advisory fees in Q3 2024, signaling a strong rebound in dealmaking activity amid improving market conditions.
Balyasny Promotes Nick Bellavia to Global Trading COO
Balyasny Asset Management has promoted Nick Bellavia to chief operating officer of global trading, effective immediately, as the firm continues to expand its trading operations.
AI Mythos Poses Existential Threat to UK Banking
AI is compressing the time between discovering and exploiting weaknesses, posing a huge threat to banking. Banks must shift from periodic to continuous assurance to defend against AI-augmented attacks.
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Banning Payment for Order Flow: EU Blunder UK Should Avoid
The EU is set to ban payment for order flow, but the UK's FCA is reconsidering. This practice can benefit investors through better prices and liquidity, especially for smaller stocks.
KLEKT Appoints Former H&M Exec Daniel Kulle to Board
KLEKT appoints Daniel Kulle, former H&M president, as board member to drive global expansion in the resale market for sneakers and streetwear.
BofA Ups Bonuses for Top UK Investment Bankers by 15%
Bank of America has increased bonuses for its top-performing UK investment bankers by 15%, reflecting strong dealmaking activity and retention efforts.
Premier Miton in Talks with BNY for Equity Trading
Premier Miton is in discussions with BNY to outsource its equity trading operations, aiming to reduce costs and improve efficiency.
Santander UK Profit Down 44% on Motor Finance Provisions
Santander UK's Q1 2026 profit fell 44% to £202m after a £179m provision for motor finance mis-selling, raising total reserves to £640m. Net interest margin contracted, while cost-cutting continued.
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Amundi Sees Highest Quarterly Inflows in Over 4 Years
Amundi reported its best quarterly inflows in over four years, driven by strong demand for its ESG and passive funds, boosting assets under management.
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