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Monday, 2 November 2026

Compiled with AI from public news sources. Folio is editorial commentary for commercial-awareness practice, not legal advice. Verify any detail against the linked sources before relying on it professionally.

All M&A Banking & Finance Energy & Tech Regulation International AI & Law

Top Story/Energy & Tech

Nine of world's biggest oil firms on track for $95bn Q3 profit as Iran war drives fuel prices higher

The world's nine biggest oil companies are on track to post combined profits exceeding $95 billion in the third quarter of 2026, the second quarter running above that level, after the same nine firms made $96 billion in Q2, with the ongoing Iran war pushing fossil fuel prices sharply higher. Major producers including Saudi Aramco and BP are among the beneficiaries of the sustained price surge driven by Middle East conflict.

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Also Today

National Grid strikes Teesside deal to site UK's biggest electricity substation near planned AI datacentre

More than 2.3 million UK households face sharply higher mortgage payments in 2027 as Bank of England rate rise is expected imminently

AI agents now able to support evidence-based arbitrator selection by mapping candidate records, conflicts, and diversity data across institutional databases

TDR Capital Agrees Roughly €400m Takeover of Lovehoney Group

Manchester credit hire law firm Garvins Law secures £2m funding package to complete management buyout from administration-linked parent

Garvins Law, a Manchester firm specialising in credit hire litigation, has secured a £2m funding package to support a management buyout (MBO) by principal Neil Garvin, who has b…

“Litigation finance is now funding law firm MBOs directly, turning specialist practices into yield-bearing a…”

Regulation

Solicitors Disciplinary Tribunal clears veteran solicitor of tipping off allegation but fines him for bookkeeping failures attributed to laziness

The Solicitors Disciplinary Tribunal (SDT) has cleared a 74-year-old north London solicitor, Musa Audu, of tipping off a client about a Metropolitan Police investigation, ruling…

“Breaching client account rules without dishonest intent still crosses the integrity threshold, a distinctio…”

International

Global Legal Post publishes comparative FDI law guide as foreign direct investment screening becomes a primary cross-border transaction risk

The Global Legal Post has published a Law Over Borders Comparative Guide on foreign direct investment (FDI) law, with the UK chapter edited and contributed to by Cooley partners…

Cooley

“FDI screening is now a deal-breaker risk in any cross-border transaction touching technology, energy, or de…”

Bigger Picture

Sector Watch

Energy Windfall Meets Infrastructure Race

Two converging pressures define this week's energy story: nine major oil firms are on track for $95bn-plus Q3 profits driven by Middle East war premiums, while the UK government is racing to channel energy investment into AI infrastructure, with National Grid's Teesside substation deal the most concrete example to date. For City practices, the combination creates a dual workstream: advising oil majors on windfall tax risk management and shareholder return structuring, and advising technology and infrastructure investors on grid connection, planning, and regulatory consents for large-scale data centre projects. The Teesside deal in particular could become a precedent for how AI infrastructure investors secure bespoke grid access arrangements, making energy regulatory practices central to technology M&A strategy in 2027.

One to Follow

Bank of England Monetary Policy Committee rate decision expected this week, with 2.3 million UK households facing fixed-rate mortgage expiry in 2027 if rates rise

A rate rise landing on a concentrated mortgage refinancing wave will drive banking and finance regulatory work around lender arrears obligations and FCA consumer duty compliance, while also affecting the leveraged finance market for ongoing M&A transactions. Finance and banking practices at all major City firms will be watching the MPC decision and its downstream implications for credit conditions closely.

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