BT, BMW, RBS, Next, Morrisons, interest rates: your commercial news round-up
updated on 10 May 2018
Another week, another bumper crop of commercial news to consider. If your ultimate plan is to succeed as a legal professional, an interest in the business world – and the world generally – is a must. As everyone digests the news that the Bank of England is again leaving interest rates where they are (with the Guardian reporting that some analysts have called Mark Carney an “unreliable boyfriend” due to his habit of changing his mind), here is a selection of other stories for your edification:
- BT has announced that it will be cutting 13,000 jobs over the next three years, in a bid to reduce its costs by £1.5 billion. The company will also be moving its headquarters out of its central London location.
- In the latest car-related scandal to hit town, BMW is having to recall over 300,000 vehicles because of an electrical fault that may cause them to cut out without warning.
- The Royal Bank of Scotland has settled an investigation by the US Department of Justice for an estimated $4.9 billion. This now clears the way for the UK government to sell its stake in the company.
- Both Next and Morrisons have experienced benefits from the recent spell of good weather, with strong trading figures (defying some other gloomy high street predictions) and an upward reassessment of their full-year profit forecasts.
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.
