Commercial news round-up: Disney-Fox sale, Bitcoin, Uber, Brexit
updated on 13 December 2017
With the holidays almost upon us, it will soon be time for a well-earned break from all that gives people the blues (ie, the news) – at least for a couple of days! But before then, let’s briefly run through some of this week’s big business stories in our continuing quest to help you develop your commercial awareness.
- The biggest media organisation in the world, Walt Disney, looks set to set to grow even larger with a deal to buy 21st Century Fox’s entertainment assets, including Sky and Fox’s film studio, for $60 billion. Fox owner Rupert Murdoch is said to want to focus more on his news empire following the sale.
- UK unemployment figures are at their lowest level since 1975. Cause to celebrate? Unfortunately it doesn’t tell the whole story, as wages continue to lag behind inflation, meaning that those in work are actually slightly worse off than last year. The figures also include precarious work such as roles on zero hours contracts, so being in work doesn’t necessarily mean that someone is earning enough money to meet the cost of living – indeed, the majority of housing benefits claimants are in work.
- Controversial cryptocurrency Bitcoin has begun trading on a major stock exchange for the first time. However, the head of the US Securities and Exchange Commission has warned investors to beware of scams and criminal activity in the sector.
- Uber has suffered another blow to its UK operations, as York City Council have refused to renew the app’s license to operate in the city.
- An influential US think tank has warned that Britain will be worse off after Brexit in pretty much all the possible exit scenarios.
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