Law and business: commercial news round-up 28.01.16
updated on 28 January 2016
You’re probably all slaving away over your vacation scheme applications (big deadline is 31 January) and that is as it should be. However, don’t forget that if you do secure an interview, you will be expected to know something about the business world. Keep abreast of what’s going on with our weekly digest:
- Google is squirming under the spotlight this week, as critics state that its “cheap tax deal” sets a worrying precedent and the company agrees to face questions from MPs.
- Amazon plans to create 2,500 new jobs in the United Kingdom, bringing the total number of UK employees to 14,000.
- Right at the other end of the employment spectrum is news that the world’s biggest oil field company, Schlumberger, lost £1 billion in the last three months of 2015 and plans to cut 10,000 jobs.
- Just when things were looking a bit rosier for Tesco, the groceries code adjudicator reports that the supermarket delayed payments to suppliers in a bid to improve its own profits, acting unreasonably and in breach of the governing industry code.
- Dixons Carphone plans to close 134 of its standalone stores and provide those services instead as part of combined PC World/Currys stores.
- George Osborne has announced that the sale of the remaining government-owned Lloyds shared, scheduled for Spring 2016, will be delayed due to what he calls “market turbulence”.
- As ever, The Economist does a great job of explaining why stock markets around the world have fallen so much in the first few weeks of 2016.
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.
