2. Reuters confirms strong profits but warns that rate-led growth may not be enough

Reuters reports that law-firm profits rose sharply in 2025, with Q4 profits up 14.1% across 195 large and midsized U.S. firms, while also noting warning signs such as weaker M&A demand growth, client pullback and uncertainty going into 2026. The operator takeaway is that firms cannot rely on headline profit alone; they need to understand which practices, clients and pricing moves are really carrying performance.