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UBS fails in bid to fight sub-prime lawsuit in London

The Swiss bank has been told by the High Court that it must defend itself against a £100m lawsuit in the US, not in London

Iranian bank challenges EU sanctions

The London subsidiary of Bank Melli, Iran's largest bank, has gone to the High Court in a bid to continue trading in the UK

Falconer to join US firm

The former Lord Chancellor is to join Gibson Dunn & Crutcher as senior counsel with a portfolio of responsibilities

Europe plans to relax state aid and VAT

The European Commission has proposed a shake-up of both its value-added tax and state aid rules to boost economic growth

Credit-rating agencies to face regulation

Europe's chief financial regulator intends to table legislation in the autumn to regulate the activities of agencies

SFO dropped inquiry for 'national security'

The law lords have been called upon to decide whether dropping an inquiry into BAE's £43bn deal with Saudi Arabia was illegal

Bank clerk jailed for £72m fraud

A former clerk at HSBC's Canary Wharf branch has been jailed for nine years for an 'audacious' attempt to steal from the bank

City lawyers close in on New York rivals

A record year for UK law firms saw them close the gap on their US counterparts in profitability last year, research shows

Edward Braham: 'The downturn will accelerate the flight to quality'

The Freshfields corporate partner says that quality people and deals are being concentrated at a small number of law firms

SFO backs plea bargain-style system

The propsal comes as the agency has been criticised for the slow processing of cases and a low conviction rate

Linklaters reveals record profits

One of the City's leading law firms announced a record turnover of £1.2bn, but still failed to overtake Clifford Chance

Overcharged passengers to claim compensation

US courts to invite millions of Britons to share more than £70m compensation after BA and Virgin fuel-fixing allegations

Crunch decision as court rules on Pringles

High Court rules that Pringles, the crisps-in-a-tube are not, in fact, crisps at all, and therefore are not subject to VAT

Guy Hands sues Baker Tilly over 'negligent' tax advice

Investors including the private equity heavyweight have sued the accounting firm for £23m over a failed film-financing scheme

Vodafone defeats Customs in £2bn tax fight

High court rules HMRC was wrong to try and tax Vodafone's Luxembourg subsidiary at UK corporation tax rates

Linklaters hits record on 15% revenue rise

City law firm says corporate work fell during the second half but growth in new markets compensated for declines

IRS officials move in on tax evaders

US Revenue to meet top five accounting firms as part of a $20bn tax evasion clampdown in which UBS is embroiled

Refco boss Bennett jailed in US for 16 years

British former chief executive of commodity broker pleads guilty to criminal charges involving cover-up of firm's finances