Magic circle rates held especially strong with 94% of newly qualified (NQ) solicitors at Linklaters (47 out of 50) accepting roles, while Allen & Overy revealed that 92% (34 of 37) of trainees are staying on post qualification.

The latest round of partner promotions at City firms indicates some progress toward greater gender equality at the top, with women making up a higher number of newly promoted partners than in previous years.

Several City firms, including DAC Beachcroft, Osborne Clarke and Eversheds Sutherland, are repaying the Coronavirus Job Retention Scheme money they received from the government to help them weather the effects of the pandemic.

London firms have reacted to the proposed Brexit deal with “cautious optimism” despite lawyers advising business to prepare for the worst, as reported in the Law Gazette.

Top City firms have been preparing to advise their clients on the consequences of the United Kingdom’s potential exit from the European Union.

City law firms are considering an additional requirement that candidates will need to gain some “City-specific” training on top of passing the Solicitors Qualifying Exam (SQE) when the new ‘super exam’ comes into effect.

Weil, Gotshal & Manges (London) LLP has introduced a four-day in-office work policy, meaning lawyers in the firm’s London office are expected to come into the office at least four days a week. 

City solicitors have warned that firms may require all trainees joining from 2022 onwards to pass the new ‘super exam’, despite the Solicitors Regulation Authority’s indication that transitional arrangements allowing students to qualify through the old system may be in place until 2031. 

A group of City law firms have launched an initiative to give opportunities to less-privileged students and shake off their elitist reputation.

Allen & Overy LLP and Travers Smith LLP have revealed a new partnership with LGBTQI (lesbian, gay, bisexual, transgender, queer and intersex) charity GiveOut to launch a new LGBTQI Legal Aid Fund.

A global network for crypto-related fraud has been launched by a group of legal industry professionals, including lawyers from Osborne Clarke and RPC, barristers and forensic accountants. 

Deputy Prime Minister Nick Clegg has launched his 'Opening Doors' social mobility campaign together with James Caan, businessman and TV personality, and Peter Searle, chief executive of the recruitment company Adecco.

Reed Smith and Mayer Brown joined Aspiring Solicitors at an event discussing how to increase awareness and understanding of disabilities in the legal profession earlier this month.

Elite law firms could be pressured to return to a full five days in the office as larger fee-paying clients crack the whip on their own staff.  

A new commercial awareness competition for students at non-Russell Group universities has attracted sponsorship from 12 City law firms.

A group of six City law firms have partnered with BPP University Law School to develop a new course that will prepare future trainees for the Solicitors Qualifying Exam (SQE).

Two leading City firms have delayed partner promotions due to pandemic pressures.

Ashurst has delayed partner promotions until later this year due to “continuing market uncertainty”. 

Leading law firms including Allen & Overy, Freshfields Bruckhaus Deringer, HFW and Simmons & Simmons have signed up to the Greener Litigation Pledge, a commitment launched by Mishcon de Reya. 

The government has dubbed two of the City’s biggest law firms, Baker & McKenzie and Linklaters, “social mobility champions”.