Law and business news round-up: Which?, Phones4U, WTO, CBI, BA
updated on 29 September 2016
The best commercial lawyers have their fingers firmly on the pulse of the business world. If that is the role to which you aspire, starting to get a grip now on the business and economic news of the day is essential, but it can be hard to know where to start. Look no further:
- Consumer champion Which? has filed a ‘supercomplaint’ with the Payment Systems Regulator against banks that refuse to reimburse customers who have been “tricked into transferring money to fraudsters”.
- Speaking of super complaints, the United Kingdom’s major mobile phone companies face fines worth millions of pounds over allegations from receiver PwC that they colluded in the downfall of Phones4U by refusing to sell phones or contracts via the now-defunct chain.
- The World Trade Organisation has cut its forecast for global trade growth by a third, commenting that the “dramatic slowing of trade growth is serious and should serve as a wake-up call”.
- Brexit news abounds, with a report from the CBI gloomily stating that business confidence is at its lowest level since 2009. As a counterbalance, Liam Fox international trade secretary has said that Brexit is a “golden opportunity” for Britain, opening it up to be the “standard bearer for free trade”.
- In sad news, BA has become the latest in a long line of airlines to ditch free food for its short-haul economy passengers in favour of a selection that can be purchased – but the sandwiches will be from M&S, so that’s fine!
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.
