Law and business news round-up: Brexit and more
updated on 07 July 2016
A bit more variety this week, but the headlines are still dominated by all things Brexit, as you would expect only two weeks down the line. Read on for a selection of Brexit, and other commercially driven, stories:
- George Osborne described the United Kingdom as being in “economic shock” following the EU referendum, requiring a “supreme national effort” to get through it.
- In a similar vein, the Bank of England’s Mark Carney warned that Brexit risks are “beginning to crystallise”.
- Mishcon de Reya launched a pre-emptive legal challenge to Brexit, claiming that Article 50 cannot be triggered without an act of parliament. The claim has been brought on behalf of a group of anonymous clients, but has since been publicly supported by hundreds of lawyers.
- In other news, statistics related to the fines imposed by the Financial Conduct Authority over the past year reveal that the amount has dropped from £819 million to just £7 million. Reasons include a shift in approach under new head Andrew Bailey.
- And finally two retail stories – not ostensibly Brexit-related, but in a similarly gloomy tone – Sainsbury’s is closing its 16 branches of Netto and M&S has reported its worst clothing sale figures in 10 years.
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