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KPMG is arguing for a fine of £5m with no aggravating factors taken into account

Professional Services Correspondent

KPMG is facing a fine in excess of £15m for its “grave misconduct” in relation to the sale of mattress company Silentnight to private equity firm HIG in 2011.

A draft report from the disciplinary tribunal of the Financial Reporting Council found that KPMG and former restructuring partner David Costley-Wood advised both Silentnight and HIG despite an “obvious” conflict of interest between the two businesses between August 2010 and January 2011.

KPMG faces fine in excess of £15m for ‘grave misconduct’ over Silentnight private equity sale

James Booth

Billionaire John Caudwell: ‘I’ll still build London’s most expensive homes despite UK wealth exodus’

Citi shuts Málaga office it opened to battle banker burnout

A&O Shearman boss Hervé Ekué: ‘My godfather was accused in a failed coup… he inspired me to be a lawyer’

Milbank hires private equity M&A rising star in Germany

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

Senior GIC private equity lawyer joins Dechert in London

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US law firm hires private equity specialist from key client

The bank put $50 billion toward lending to riskier companies to compete with nonbank giants dominating the market. The Walgreens deal was the payoff.

Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on It

More men than women are back in their cubicles, but remaining remote comes with risks. “It creates that barrier.”

In America’s Return to the Office, Women Are Falling Behind

Mexico and Europe are grappling with how to respond to a U.S. administration that is using trade policy for a range of political and economic objectives.

Nations Find That Neither Anger Nor Appeasement Deflects Trump’s Tariff Threats

Continuation vehicles were once used by “zombie funds” but now usually contain top-performing companies.

The Private-Equity Maneuver Allowing More Investors to Cash Out

The short-term rental company now enables guests to book services at its properties. But hosts worry about liability—and not getting a cut.

Airbnb Lets You Add a Private Chef to Your Rental. Your Host Might Not Like It.

The 59-year-old hedge fund titan made his pro-tennis debut in a competitive ATP doubles tournament alongside a Grand Slam champion, and it ended in a straight-set defeat.

Bill Ackman’s Pro-Tennis Debut Lasted 67 Minutes

The president again pushed the Fed to lower rates, helping power the S&P 500 and the Nasdaq composite to fresh record closing highs.

Stocks Climb After Investors Look Forward to Trade Deals, Corporate Earnings

A new group plans to raise at least $20 million to stop the democratic socialist in the city’s mayoral race.

By Brian Schwartz, Kevin T. Dugan and Ben Glickman

New York’s Financial Crowd Rushes to Build Anti-Mamdani War Chest

Recent graduates who haven’t started their gigs at big banks are being recruited for jobs that don’t start for another couple of years.

By AnnaMaria Andriotis, Ben Glickman and Alexander Saeedy

Inside the Wall Street Recruitment Wars Pitting Banks Against Buyout Firms

The Organization of the Petroleum Exporting Countries doubled down on its view that global oil demand will keep rising through mid-century and that there is no peak in sight.

Signatories would benefit from a lower administrative burden and extra legal certainty to prove they comply with the AI Act.

EU Lays Out AI Code of Practice to Guide Companies on Compliance

The latest assault included more drones in a single night than Russia used in the entire month of July last year.

The Drone Factories Fueling Russia’s Unprecedented Assaults on Ukraine

It’s never been easier to create your own app with ‘vibe coding.’ Now, professional software engineers are bringing it into the enterprise.

‘Vibe Coding’ Has Arrived for Businesses

The Italian lender now owns around 20% of Commerzbank’s shares and is the largest shareholder of the bank it hopes to engineer a merger with.

UniCredit Doubles Equity Stake in Commerzbank

UniCredit Doubles Equity Stake in Commerzbank to 20%

President Trump’s latest salvo on trade gives U.S. allies three weeks to persuade Washington to relax tariffs that would be costly for their export-dependent economies.

U.S.’s Biggest Asian Allies Ready Last-Ditch Trade Appeal to Trump

An internal investigation uncovered evidence that Linqto customers never owned the securities they thought they did.

Once Popular Pre-IPO Investing Platform Linqto Files for Bankruptcy

Mark Zuckerberg wooed another elite researcher with a pay package in the tens of millions.

Meta Hires Top Apple AI Expert, Continuing Zuckerberg’s Recruitment Push

The president rolled out a new deadline, new rates and letters.

Trump Pushes Global Trade War Back to the Top of His Agenda

Asian equities started the week on a downbeat note, as remarks by President Trump stirred up already-tense markets bracing for tariffs to hit dozens of countries this week.

Trump Threatens Extra 10% Tariff on Nations Siding With Brics

A trial began in a long-running lawsuit by Chicago traders who say they were harmed by the exchange’s launch of electronic markets.

Old-School Floor Traders Finally Get Their Day in Court Against CME

Tesla’s CEO said he created a new political party called the America Party after reigniting a feud with President Trump.

Elon Musk Says He’s Forming ‘America Party’

Companies are getting brutally honest with applicants, warning them of long hours and few boundaries.

Think Work-Life Balance Is Overrated? You’re Hired!

Four people open up about their finances and how they spend their time.

Late-Career Job Losses Are Blurring What Retirement Looks Like in America

Shares of unprofitable companies have outperformed since early April, and investors are now speculating like it’s 2021.

Meme Stocks and YOLO Bets Are Back and Fueling the Market’s Rally

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