Commercial news round-up: Uber ruling, Toys R Us trouble, Brexit deal for the City
updated on 21 December 2017
Let’s jump straight into our round-up of this week’s big commercial stories you should know about.
- Uber is officially a cab firm, not a digital service, the European Court of Justice has ruled after the company’s latest dispute in Barcelona. While Uber maintains that the ruling will have little effect on its European operations, some commentators have predicted that the ruling could have wider implications for the gig economy – a model which is continuing to cause headaches for courts and regulators.
- Troubled retailer Toys R Us is struggling to avoid going into administration in the United Kingdom after the Pension Protection Fund said it would block the company’s rescue plan. The company has now entered last-ditch talks with the fund in an effort to stay afloat and save over 3,000 jobs.
- Budget airline Easyjet has confirmed its purchase of a large part of now-defunct Air Berlin’s operations, in what is a major acquisition for the commercial aviation industry.
- A slump in demand from domestic consumers means that UK car manufacturing has decreased in the last month.
- The governor of the Bank of England, Mark Carney, has contradicted Michel Barnier, the European Union’s Brexit negotiator, by saying that a special trade deal for the UK financial services industry may be possible after all.
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