Commercial news round-up: BT Openreach, Scotland, Bank of England, Lush, Toyota
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Spring may have sprung, but that is no reason to neglect your commitment to self-improvement and progressing your legal career. This week’s selection is a real mixed-bag of commercial stories that should serve to pique your interest in the business world:
- BT’s monopoly on the country’s broadband network is over, as it reaches a deal with the regulator Ofcom that requires Openreach to become a “distinct company with its own staff, management and strategy”.
- Despite expectations to the contrary, news that Scotland could well be facing a second independence referendum in 2018 didn’t have much of a destabilising effect on the pound; however, confirmation that Article 50 will definitely be triggered before the end of March is likely to send shockwaves.
- The deputy governor of the Bank of England, Charlotte Hogg, resigned earlier in the week amid questioning by MPs of her suitability for the role – she has been accused of not being up to the job due to her failure to disclose a potential conflict of interest.
- Lush may be looking to take its sweetly perfumed products elsewhere, as it expressed concern about the difficulty of further expansion in Britain post-Brexit. It said: “Lush has flourished from the freedom of movement of people and goods, and now we face uncertainty in both of these areas.”
- In some cheering car-related news, Toyota has announced that it is to invest a further £240 million in upgrading its plant in Burnaston, which employs around 2,500 people.