Welcome to the thirty-fifth edition of The Weekly Briefing!
Each week, we recap the most interesting commercial news stories shaping the market, from corporate dealmaking to regulatory shifts, and highlight why they matter to businesses and law firms.
Booking.com faces EU scrutiny over scams and hidden ads
Finding a great holiday deal has always required a bit of smart shopping; most travellers know a better rate might be hiding elsewhere. But what happens when one of the world’s largest online travel platforms relies on sneaky tactics to pad its margins while leaving guests vulnerable to sophisticated scams?
The European Commission has opened formal proceedings against Booking.com to investigate whether the platform is doing enough to tackle these risks. Announced on 21 October, the investigation focuses on fraudulent accommodation listings, phishing scams exploiting guest data and paid-for listings that may not be clearly labelled as advertisements.
The case centres on the EU’s Digital Services Act (DSA), which imposes additional obligations on major online platforms to assess and mitigate systemic risks. The Commission will examine whether Booking.com has properly assessed these threats and introduced effective safeguards. If breaches are established, the company could face fines of up to 6% of its worldwide annual turnover. That is the statutory maximum, not a penalty already imposed.
The investigation is ongoing, and no infringement has yet been established.
Weil Reportedly Negotiating Merger as Partner Departures Continue
Weil, Gotshal & Manges is reportedly negotiating a merger with another law firm, according to Bloomberg Law, about a month after a Weil spokesperson said the firm was “not engaged in merger discussions with any firm.” Leadership has reportedly told practice group heads that a memorandum of understanding is being prepared, although the talks could still fall through. Sources have identified Willkie Farr & Gallagher as a leading candidate, but neither firm has confirmed this.
The reports follow a sustained loss of partners. More than 30 have left or announced their departure since August, including London co-managing partner David Avery-Gee, who joined Sullivan & Cromwell, and six partners who moved to Simpson Thacher across London and New York.
Law firm mergers differ from most corporate combinations because the main asset is people rather than property or contracts. Partners take clients with them when they leave, so a firm still losing lawyers during negotiations offers a merger partner a smaller practice than the one it first assessed.