Big Four Rethink Partnership Model Amid Profit Pressures
KPMG, EY, PwC, and Deloitte are reshaping their equity partnership structures, demoting senior partners and cutting promotions to protect profits amid economic challenges.
Category : Corporate
London Named World's Share Buyback Capital
London tops global share buyback rankings as UK companies capitalize on low valuations and improved sentiment, outpacing the US and other markets.
Shell Buys Canadian Shale Producer ARC Resources in $16.4bn Deal
Shell acquires Canadian shale producer ARC Resources for $16.4bn, boosting production and reserves. The deal is part of an industry shift back to core oil and gas.
Motor Finance Lenders Warned of Gridlock in £9bn Scandal
UK banks brace for motor finance redress scheme as Consumer Voice challenges FCA, risking delays and higher costs for lenders already facing £9bn bill.
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Banks Push $7.5B into Private Equity Funds
Major banks are launching a record $7.5 billion private equity fund push, signaling a strategic shift towards alternative investments to boost returns amid low interest rates.
Bank of America Rehires Kollmann for German IB
Bank of America has rehired seasoned banker Kollmann to bolster its German investment banking operations, signaling a strategic push in the region.
Latham & Watkins London Boss Eyes City Expansion
Latham & Watkins' London head targets growth after record $1bn revenue year, aiming to expand office space and hire more lawyers in the City.
Martin Lewis: Get Power of Attorney, More Vital Than Will
Martin Lewis says a £92 lasting power of attorney is more important than a will, warning failing to act can cause family stress and court costs.
US Millionaire Hunter Killed by Elephants in Gabon
Ernie Dosio, 75, died after being crushed by elephants while hunting antelope in Gabon. His guide was seriously injured.
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Microsoft and Meta Cut Thousands in AI Bet
Microsoft and Meta announce thousands of job cuts as they redirect resources toward artificial intelligence, marking a significant shift in tech industry priorities.
Axel Springer Skipped Due Diligence on Telegraph Deal
Axel Springer did not conduct due diligence before its £575m Telegraph takeover, raising concerns about recouping investment as print declines.
BlackRock Increases Fink's Security Spend $500,000
BlackRock raised CEO Larry Fink's personal security budget by $500,000 amid rising threats. The move reflects growing concerns for executive safety in the financial sector.
Moelis Hires Jefferies' Rosedale for London Sponsors Team
Moelis & Company has hired David Rosedale from Jefferies to head its financial sponsors coverage in London, strengthening its private equity relationships.
JPMorgan Promotes 135 New MDs in Banking and Markets
JPMorgan Chase has promoted 135 new managing directors in its banking and markets division, reflecting continued investment in senior talent.
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Shackleton Buys £10bn Rival Wealth Manager
Shackleton, a private equity-backed wealth manager, acquires a £10bn rival, strengthening its position in the UK wealth management sector.
KPMG Cuts 140 US Audit Partners in Global Restructuring
KPMG is laying off about 140 US audit partners, following 600 UK job cuts. The Big Four firm aims to reduce headcount amid profitability pressures.
US Soldier Charged for $400K Bet Using Classified Info
A US Army master sergeant allegedly used classified information to win $400,000 betting on the capture of Venezuelan leader Nicolas Maduro. He faces multiple federal charges.
Lloyds Earnings Spotlight Motor Finance and Wealth
Lloyds Banking Group's first-quarter update will highlight motor finance provisions and wealth management expansion, as investors seek progress amid market volatility.
KPMG and EY Demote Senior Equity Partners Amid Slump
Big Four firms KPMG and EY are demoting UK senior equity partners to salaried roles, cutting costs as consulting faces slowing demand, AI disruption, and competition.
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KPMG and EY Demote Senior Equity Partners
KPMG and EY are downgrading UK senior equity partners to salaried roles, cutting costs amid consulting industry pressures from AI and competition.
Meta to Cut 8,000 Jobs as AI Spending Hits $135bn
Meta Platforms plans to cut 8,000 jobs, roughly 10% of its workforce, as it ramps up AI spending to $135bn, marking one of its largest layoff rounds.
JD Sports Chair Quits After Failed CEO Ouster Attempt
Andy Higginson stepped down as JD Sports chair after failing to convince the board to remove CEO Régis Shultz amid slowing sales and stalled US growth.
Insurance CEOs See Major M&A Disruption: KPMG
KPMG report reveals over 50% of insurance CEOs anticipate high-impact M&A deals, with AI investment and cybercrime as key concerns.
£187K Now Needed for High Salary in London, Experts Say
Earning £100,000 in London no longer guarantees a high standard of living due to inflation and tax thresholds. Financial experts suggest £154,128 nationwide or £187,200 in London as a new benchmark for a high salary.
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Apprentice Winner Makes £300K After Typhoon Disaster
The Apprentice winner Karishma Vijay has made nearly £300,000 in sales just one week after losing £25,000 in stock due to a typhoon that sank her shipment.
Palantir exec rebuts Polanski's NHS claims
Louis Mosley, Palantir UK head, refutes Green Party leader Zack Polanski's viral video criticising the firm's NHS role, correcting inaccuracies and defending the data platform contract.
Barclays Hires Jefferies' Yildiz for European Sponsors Role
Barclays has appointed Jefferies dealmaker Yildiz as co-head of European financial sponsors, strengthening its investment banking team.
Tesla's Mixed Q1 Earnings as Musk Pivots to AI and Robots
Tesla reported mixed first-quarter financial results, with earnings beating expectations but revenue missing. CEO Elon Musk emphasized AI and robotics, but the stock remains sluggish amid competition and demand challenges.
Billionaire Numbers Forecast to Rise 25% in Five Years
Analysis by Knight Frank predicts the global billionaire population will reach nearly 4,000 by 2031, driven by tech and AI profits, while wealth inequality widens.
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Billionaire's Secretary Charged Over $1.6M Luxury Fraud
Annalouise Spence, former private secretary to philanthropist Judith Neilson, faces 68 fraud charges for allegedly using a business credit card to make over $1.6 million in unauthorized luxury purchases.
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