The Freshfields Podcast

Well-Caffeinated: Private Capital at the AI Inflection Point: What to Look for in 2026 and Beyond

In this episode, Sanjay Murti discusses all things AI with partners Anna Gressel, Eva Mak and Tim Clark, covering topics such as the commercialization of AI agents, AI governance, AI on the investment committee and AI as an accelerant for retailization. The panel also shares its reactions to Matt Shumer's viral post, 'Something Big Is Happening,' which explored the implications of AI development. The panelists conclude with the one thing each of them is particularly focused on when it comes to AI on the road ahead.

For additional context and resources related to today’s discussion, visit the referenced Eyes on AI article.

No Worse Off #21: Asset-Backed Finance under stress

In our latest episode of “No Worse Off,” host Emma Gateaud is joined by Mus van Hien, Head of Private Markets Capital Solutions at M&G Investments, and Freshfields partner Andy Heathcote, from our structured finance practice.

Together, they explore Asset-Backed Finance and how it is used , as well as how distress and enforcement can play out in such structures. They examine the recent fraud cases of First Brands and Tricolor and also bring their experience of investor protections and talk through enforcement issues in such structures.

Stay tuned for more insights into the world of restructuring and thank you for listening to "No Worse Off".  

ESG trends to watch in 2026: Part 2: How AI, climate transition planning, supply chains and environmental rules are evolving

Part 2 explores AI’s expanding ESG implications, uncertainty in climate transition planning, evolving supply‑chain obligations and the ongoing complexity of environmental and product‑specific rules, despite efforts to simplify regulatory frameworks.

Recorded as at 29 January. 

ESG trends to watch in 2026: Part 1: ESG litigation risk in a fragmented regulatory world

Part 1 explores how geopolitical divergence and shifting regulatory approaches are reshaping ESG risk in 2026. It highlights a more complex litigation landscape, growing use of novel arguments including attribution science and increasing claims linked to climate impacts, supply chains, human rights and allegations of greenwashing.

Recorded as at 30 January.

Essential Antitrust #49: Clarity in Antitrust: inside the 10 key themes shaping 2026

From shifting geopolitical agendas to a transformed merger control landscape and AI‑driven investigations, our experts unpack the forces reshaping global antitrust in the coming year.

Antitrust is increasingly impacted by geopolitical priorities, with regulators using competition policy to advance national security, industrial resilience, and economic goals. Companies operating across major jurisdictions face diverging enforcement philosophies, requiring careful alignment of deal narratives with local policy objectives. At the same time, merger control is undergoing significant procedural and substantive changes: authorities expect deeper upfront analysis, broader disclosure, and robust evidence supporting innovation, consumer benefits, and supply chain stability.

Enforcement is also evolving as agencies deploy AI‑driven analytics, enhanced monitoring tools, and expanded investigative powers to uncover cartels, algorithmic coordination, and other risks. In this environment, sophisticated, technology‑aware compliance frameworks have become essential for managing exposure and shaping successful regulatory outcomes.

With experts Manish Kumar, Mary Lehner, Jenn Mellott, Colin Raftery and Andreas von Bonin, this episode of Essential Antitrust offers key insights to help companies navigate rising regulatory risk and protect strategic decision‑making.

Essential Antitrust #48: Antitrust meets AI: How regulators approach AI-driven pricing and predictive analytics

AI-driven pricing and analytics tools are transforming markets, but they’re also drawing intense scrutiny from antitrust authorities worldwide. In our latest Essential Antitrust episode, Freshfields experts Maria Dreher-Lorje, Nicholas Frey, Heather Lamberg and Jenn Mellott explore how regulators in the US, UK, and EU are responding to algorithmic pricing and what this means for global businesses.
 
From US litigation concerning algorithmic price fixing to the EU’s case focus and the CMA’s new investigatory powers, the legal landscape is evolving fast. Authorities are not only investigating AI-driven conduct but also deploying AI tools themselves to detect collusion. Uncertainty around enforcement standards—per se vs. rule of reason—makes proactive compliance essential.
 
Listen now to understand the risks, the questions regulators are asking, and practical steps to protect your business.

Well-Caffeinated: What’s Past is Prologue — Assessing the Changed Legal Landscape from Year 1 of the Second Trump Administration and Looking Ahead at What Year 2 May Bring

As 2025 draws to a close, and sitting on the precipice of a new year, it seems like a good time for us to assess where the second Trump Administration has taken us so far and where we may be headed. 

Listen to Tim Clark's interview of Jennifer Loeb, Austin Evers and David Nicolardi regarding what we got right about the second Trump administration; what surprised us; and what to expect from the administration in the coming year.

This podcast covers the US legal and regulatory landscape and focuses on the questions and topics that are on the top of our clients’ minds.

For additional context and resources related to today’s discussion, visit the referenced Private Capital in 2025: 7 Things You Should Know blog.

No Worse Off #20: 2025 in Review

To close the year, in this episode of “No Worse Off” hosts Emma Gateaud, Lindsay Hingston and Alex Thomson look back at the key developments in the restructuring market in 2025.  In a monthly run-down they spotlight new trends in liability management and out-of-court solutions, and pivotal court decisions that have reshaped the UK restructuring plan.  The team also highlights headline bankruptcy cases, the Supreme Court’s motor finance ruling and a landmark decision in Wirecard.

Stay tuned for more insights into the world of restructuring and thank you for listening to "No Worse Off."

No Worse Off #19: Restructuring “à la francaise”

In our latest episode of “No Worse Off,” we take a deep dive into one of Europe's most dynamic and distinctive restructuring markets: France. Host Emma Gateaud is joined by Marc Sénéchal a highly respected French court-appointed conciliateur and mandataire ad hoc and Freshfields Paris restructuring partner Guilhem Bremond and counsel Antoine Rueda.

Listen in as our panel discusses recent ‘jumbo’ cases and France’s unique two-phase restructuring process, which combines conciliation and sauvegarde accélérée. The discussion highlights how the 2021 reform enhanced the efficiency and predictability of the system, as well as the pivotal role of the court-appointed officer in building stakeholder consensus, ultimately ensuring greater fairness and reducing the risk of challenges.

Stay tuned for more insights into the world of restructuring and thank you for listening to "No Worse Off."

Tax Matters: Autumn Budget 2025 – a stealthy smorgasbord?

The UK Chancellor of the Exchequer, Rachel Reeves, has delivered the Autumn Budget 2025.

In her much-anticipated second Budget, the Chancellor announced a broad spectrum of tax measures which she said were designed both to secure public finances and make the UK tax system fairer. After much press speculation, rumours and reported U-turns, there is now some welcome clarity on how the government intends to balance the books, with the largest revenue raising measure being a stealth tax increase through the freezing of income tax thresholds. Outside of the headline grabbing measures, the government has published details on new and ongoing business tax reform measures, a number of which will be included in the upcoming Finance Bill.

In our latest podcast, Josh Critchlow speaks to May Smith, Emily Szasz and Sam Withnall from our London tax team about the smorgasbord of business tax measures they found most noteworthy in the Autumn Budget 2025, including:

• headline tax revenue raising measures including extending the freeze on income tax/NICs thresholds and raising income tax rates on dividend, savings and property income;
• the introduction of a new ‘UK listing relief’ from SDRT, providing a 3 year exemption from the 0.5% SDRT charge on agreements to transfer securities of newly listed companies on a UK regulated market;
• confirmation that an ‘Advance Tax Certainty Service’ for major investment projects in the UK will be launched in July 2026;
• changes to the capital allowances regime, including a new 40% first-year allowance and reduction of writing down allowances for main rate expenditure;
• broadening an anti-avoidance rule applicable to capital gains rollover relief on share exchanges and reorganisations;
• an update on proposals to reform behavioural tax penalties;
• revisions to the UK VAT grouping rules applicable to overseas establishments;
• confirmation that a permanent revenue-based oil and gas price mechanism will take effect on expiry of the existing Energy Profits Levy;
• additional measures to tackle tax avoidance; and
• measures not included in the Budget announcements, including the rumoured ‘partnership NICs’ and exit tax.