Law and business: commercial news round-up 30.01.15
updated on 30 January 2015
No excuse to slow down just because it’s Friday and the weekend beckons. Tangy business news waits for no one. Here’s a sharpener or two before you enjoy your days of rest:
- BHS is up for sale as owner Sir Philip Green reveals he has been approached by more than one company keen to buy the "challenging" store (it reported a reported a 3.5% decrease in sales to £675.7 million in 2013).
- In 2014 the UK economy grew at its fastest rate since 2007, up by 2.6% (compared to just 1.7% in 2013). Predictably, Osborne said that the figures showed "the economy was back on track"; chief investment officer at Close Brothers Asset Management, Nancy Curtin, said that the figures "hardly set the world alight".
- Apple does it again, this time with a world record profit announcement – the biggest ever quarterly profit, at $18 billion. But does it now have a problem of too much cash?
- Facebook is also in good financial shape, with higher than expected fourth-quarter profits in 2014 and millions of new users.
- Pension for a pension? BT is setting aside £2 billion for its growing pension debt, all part of its 16-year recovery plan.
Be sure to check the News section every Friday afternoon for this weekly commercial news round-up. Follow @LawCareersNetUK and @CityLawLIVE on Twitter for instant business news updates.
