Law and business news round-up: B of E, C of E, Pfizer, Burberry
updated on 19 May 2016
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 - it may come in handy when you get to interview time. Read on for our edited digest from the past week:
- The Bank of England has weighed into the Brexit debate with brutal warnings that to leave could cause a recession, a falling pound and rising unemployment. Pretty clear which side they’re on.
- The Church of England is taking preventative measures in the face of gloomy global economic predictions and selling off £250 million of its investment stock (n a portfolio that is valued at £7 billion).
- Moving on from its thwarted merger with Allergan of last year, Pfizer has bought Anacor – known for its popular anti-fungal medication – for £3.6 billion.
- The United Kingdom’s inflation rate is down for the first time since September 2015, helped in part by cheap air fares.
- The luxury goods market is not what it was apparently, and Burberry is one retailer that is suffering – it has announced plans to make redundancies and reduce its product line in an effort to save £100 million a year.
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