Hermes drivers, car industry, Carpetright, Carillion, BP: your commercial news round-up
updated on 28 June 2018
With vacation schemes in full swing, and the major training contract deadline of 31 July just over a month away, there has never been a better time to up your commercial awareness game. Taking an interest in what’s happening in the business world is the foundation for a successful career as a commercial legal adviser. No time like the present – read on:
- In a huge victory for gig-economy workers, an employment tribunal has held a group of Hermes delivery drivers to be employees, not independent contractors as the company claimed. The tribunal ruling, which holds that the drivers should receive the minimum wage and holiday pay, applies to 14,500 drivers under the same contract.
- Brexit uncertainty continues to cause economic havoc, with the car industry this week announcing that investment in the UK has fallen by half. The Society of Motor Manufacturers & Traders said investment was at its lowest point since the financial crisis of 2008-09.
- Carpetright is the latest retailer to announce store closures – of around 90 – in the wake of disastrous trading figures. The company announced an annual loss of £70 million.
- Carillion is again in the spotlight, as it faces investigation by the FCA in respect of allegations of insider trading. The watchdog is looking into claims that indiiduals within the company were trading shares using inside knowledge before its profit warning in July 2017.
- In what may seem like an unlikely tie-up, BP is buying the UK’s largest electric car charging network, Chargemaster. The giant oil company has said that it expects “renewable energy to be the fastest-growing fuel source”.
Be sure to check the News every Thursday for this weekly commercial news round-up. Follow @LawCareersNetUK on Twitter and like us on Facebook for instant business news updates.
