Law and business news round-up: Brexit, FCUK, Lloyd’s, Ericsson
updated on 22 September 2016
Want to know what’s been happening in the commercial world that might be of interest to your future clients? Look no further than this collection of interesting business stories from the past week:
- Head of the German central bank, the Bundesbank, has warned that a “hard” Brexit could cost London its hub status in the banking world because “banks would automatically be stripped of their ability to conduct business across the European Union”. He suggests that Frankfurt could step in to the City’s shoes.
- French Connection has reported a £7.9 million pre-tax loss for the first six months of 2016, with the company’s boss refusing to talk to possible investors about ways to turn the brand around.
- Lloyd’s of London is working on “contingency plans” for when the United Kingdom leaves the European Union, with a view to assuring its ability to trade throughout Europe; losing its “passporting rights” because of Brexit could mean significant financial losses for the insurance market.
- Telecoms giant Ericsson is closing its last Swedish manufacturing plant, ending 140 years of production in its homeland and cutting 3,000 jobs.
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.
