Unilever, online gambling, Thomas Cook, PayPal iZettle takeover: your commercial news round-up

As we prepare for our student careers conference LawCareersNetLIVE in London tomorrow, you might like to watch the partner panel discussion on the day which is being broadcasted live on Facebook. Hearing directly from partners who are experts in their respective fields discuss how law firms operate as commercial entities and how they advise commercial clients is a fantastic way to boost your commercial awareness - so click ‘Going’ on the Facebook event to be reminded when we are live! In the meantime, check out this short selection of business news stories from this week:

• The Chief Executive of Unilever, Paul Polman, will step down after a shareholder rebellion prevented the company’s planned relocation from London to Rotterdam. The group includes brands such as Marmite, Dove soap and Magnum ice-cream, and had planned to simplify its dual Anglo-Dutch structure in October after the unprecedented rebellion from UK shareholders.
• A crackdown on online gambling has resulted in three online casino companies being fined and one being prevented from operating in the UK. The Gambling Commission, which is the industry regulator, fined Daub Alderney, Casumo and Videoslots almost £14 million for not having “effective safeguards” to prevent money laundering and harm to customers from gambling. CZ HHoldings is no longer allowed to operate in the UK.
• Package holiday provider Thomas Cook has confirmed a pre-tax loss of £53 million after a disappointing year. The results come after the company issued a profit warning earlier this week, with Thomas Cook also confirming that the tour operations section of the business suffered an £88 million drop due to the UK heatwave this summer.
• Paypal’s £1.7 billion takeover of Swedish payments firm iZettle raises concerns of higher prices for UK customers, warns the Competition and Markets Authority. The watchdog said that Paypal “could face insufficient competition in the UK after acquiring its market-leading rival”. The merger will be referred for an in-depth investigation if PayPal and iZettle don’t address the regulator’s concerns.

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.