Law and business news round-up: BHS, NatWest, Lloyds, McDonald’s
updated on 28 July 2016
Another mixed bag of business news this week – some up, most down. Guess that’s to be expected in this time of unprecedented economic uncertainty. Even if you’re in the final throes of training contract application fever, read on for our hand-picked selection of stories:
- High street banks announced a 32% decline in visits to branches since 2011, but a massive rise in customers’ using online methods to bank, including apps – up 54% in 2015.
- A damning report into the collapse of BHS lays the blame squarely at the feet of billionaire Sir Philip Green, who one MP branded “worse than Robert Maxwell” and behaving in similar fashion to Napoleon.
- NatWest has warned that it may introduce charges for customers wanting to deposit money, as it paves the way for negative interest rates.
- In more depressing banking news, Lloyds has announced that it is cutting an additional 3,000 jobs and doubling the number of branches it had already planned to close.
- While banks may be suffering, fast food giant McDonald’s has plans to open 25 new restaurants, create 5,000 new jobs and launch initiatives such as table service in a move that the government hopes will inspire consumer confidence in the economy.
Be sure to check the News section every Thursday for this weekly commercial news round-up. Follow @LawCareersNetUK on Twitter and like us on Facebook for instant business news updates.
