Law and business news round-up: Hanjin, Brexit, M&S, UBS, Sports Direct, Formula One
updated on 08 September 2016
Another week, another opportunity to learn more about the commercial world and its impact on us all – including lawyers! Enjoy our digest of stories from the past week below:
- South Korean shipping line Hanjin – one of the largest in the world – has gone into administration, leaving goods stranded in ports around the world and retailers concerned.
- Recession fears are fading as the economy stabilises post-Brexit, due in large part to sizeable growth in the UK services sector.
- In other good economic news, the housing market is looking much healthier, and predicting increased house prices and number of sales in months to come.
- Swings and roundabouts though: M&S has announced that it is cutting 525 jobs from its London headquarters and relocating 400 roles outside the capital, while...
- … UBS has warned that it may move 1,500 jobs abroad when the United Kingdom leaves the European Union.
- Sports Direct has vowed to clean up its act, scrapping zero-hours contracts and removing the harsh “six strikes” rule that applied to its warehouse staff.
- Formula One has been sold for a monumental $8 billion to Liberty Media, although Bernie Ecclestone will remain as chief executive for at least three years.
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.
