Economists’ ideal market – known as ‘perfect competition’ – would operate something like a large town square full of fruit and vegetable stalls. Prices would be clearly visible to consumers and one stall’s products would be very similar to the next, making it unlikely that one seller would set a higher price than their neighbour.

What is the difference between the financial markets of the London Stock Exchange?

The war in Syria is rightly at the centre of the news, including the business pages. Oil prices have risen to a three-year high, while stocks have fallen across the world’s markets in response to the escalating tensions between the United States and Russia as they conduct proxy war in the devastated country. It’s a stark illustration that following the business world to build your commercial awareness also requires understanding current affairs. Here are some of the other main developments in the commercial sector this week.

Protect Duty Bill: what does it mean to owners and operators?

Provides free legal advice to those who live and work in London: principally in the areas of debt, employment, housing and welfare benefits.

AI describes the ability of a computer system to perform tasks typically associated with human intelligence, including those relating to perception, recognition, decision making and learning. Given this substantial potential, it's key for legal professionals to understand the factors that influence how AI can impact the legal field.

Thirty Nine Essex Street Chambers is welcoming 24 members of 4-5 Gray's Inn Square, including seven QCs, into the fold in a group move from the rival set.

In this virtual masterclass, lawyers and recruiters from Shoosmiths will discuss the impact that AI is having on the industry, how Shoosmiths is utilising it and the firm's approach to AI used in the application process.

This dynamic session will introduce you to the transformative role generative AI plays in the legal profession. You'll gain insight into how A&O Shearman is leading the charge with tools like Harvey and explore real-world examples of AI in action. You’ll also learn how to navigate the use of AI in your own legal journey – from applications to assessments – with a focus on ethics, accuracy and professional judgement.

Find out from our panel of experts exactly what commercial awareness is, as well as how you can develop it and, crucially, demonstrate it in law firm applications.

In this masterclass, we cover what it’s really like to work at regional, city and US firms and the benefits, what the differences are in training and offer practical advice for those of you making applications.

In this masterclass, sponsored by Travers Smith, Addleshaw Goddard and Trowers & Hamlins, find out exactly what it means to be a dispute resolution lawyer.