Law and business: commercial news round-up 21.05.15
updated on 21 May 2015
In or out? The EU referendum and the implications of a Brexit continue to dominate headlines, along with news from the retail sector. We know it’s exam time, but how about taking five minutes to glance up and think about what’s swirling around in the commercial world:
- Both the BBC’s Robert Peston and Kamal Ahmed have commented this week on the implications of Britain leaving the European Union…
- ….while the president of the Confederation of British Industry (CBI) has urged businesses to "speak out early" in favour of remaining in a reformed European Union.
- UK inflation figures have gone negative (at -0.5%) for the first time since 1960; reasons are said to include lower air fares and ferry tickets, but the downward trend may be temporary.
- The beleaguered Co-operative Group is set to launch a new membership drive, hoping to make its customers "more engaged with the business".
- In other supermarket news, Budgens and Londis are to be bought by massive cash and carry company Booker, for £40 million.
- Five global banks faced a severe dressing down – and mammoth fine – as the US Department of Justice imposed a £6.3 billion fine on Barclays, RBS, Citi, JP Morgan and UBS for rigging the FOREX markets between 2007 and 2013.
- Finally, in the brief window of sunshine that occurred in April, sales of flip-flops, shorts and other summery accessories surged by 8.7% (compared to last year), causing the retail sector to be cautiously optimistic for coming months.
Be sure to check the News section every Thursday for this weekly commercial news round-up. Follow @LawCareersNetUK and @CityLawLIVE on Twitter for instant business news updates.
