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City Lawyers Beginning To Feel The Big Chill - F. T.

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UK law firms hit by market turmoil

By Michael "Mike" Peel, Legal Correspondent

Published: August 27 2007 18:21 | Last updated: August 27 2007 18:21
Leading London-based international law firms are
starting to feel a chill
from the world market turmoil that may threaten the industry’s unprecedented profits boom.
Corporate lawyers say the turbulence in the private equity sector is already feeding through to top legal advisers, clouding their otherwise strong starts to the financial year.
The British legal industry’s financial success is founded on the soaring international mergers and acquisitions market, although top firms argue that their expertise in areas such as financial restructuring will make them resilient in tougher economic conditions.

Brown's masterplan to replace our manufacturing base with service sector jobs may be about to take on the shape of a genetically deformed pear.

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