Commercial news round-up: election, Weetabix, Green Investment Bank, Sky
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With the excesses of Easter behind you, it’s time to really commit to the task ahead: developing your commercial awareness and thus significantly improving your chances on the recruitment frontline. Start here with this week’s curated group of topical news stories:
- Reaction from the markets to the news that there is to be a snap general election on 8 June was immediate: the pound rose to its highest level in months, while share prices plummeted. Similar levels of volatility are expected to continue for weeks.
- Everyone’s favourite breakfast cereal Weetabix has been sold by its Chinese owner to a US consumer group, Post Holdings, for a cool £1.4 billion.
- The Green Investment Bank, owned by the UK government, is to be sold to Australia’s Macquarie Bank in a £2.3 billion deal. The deal has come in for criticism from the Labour, Lib Dem and Green parties, questioning Macquarie’s commitment to green energy.
- As its march towards world domination continues, Sky has entered into a £195 million co-production deal with HBO, as well as announcing plans to make a virtual reality series with David Attenborough and the Natural History Museum. Sky continues to be the subject of a £11.7 billion takeover bid from Rupert Murdoch's 21st Century Fox, although regulators have yet to approve the deal.