Commercial news round-up: UK growth, Dodd-Frank, e-vehicles, Aldi, McLaren
updated on 09 February 2017
No lengthy preamble required: straight in with this week’s essential business reading:
- Some good news: the Bank of England has raised its UK growth forecast for 2017 to 2% - up some way from earlier predictions of 1.4%. Carney said that this was due in part to “more government spending and stronger world growth”, plus other factors that “had made policymakers more upbeat”.
- Despite election promises that he would be coming down hard on Wall Street and looking out for the little guy, Trump is now proposing to roll back some of the consumer protections contained in the Dodd-Frank Act, which was put in place to avoid the risky bank behaviours that lead to the 2008-09 global crash.
- Sales of electric vehicles in the UK are going from strength to strength, taking a record share of new car registrations in January. In fact, car sales are up generally, confounding industry predictions.
- Aldi has swooped past the Co-operative to become the UK’s fifth largest supermarket. It is opening its 700th store later this month, with plans for an additional 300 over the next five years. Numbers one through four on the list are, respectively, Tesco, Sainsbury’s, Asda and Morrisons.
- McLaren is opening a new £50 million manufacturing plant in Sheffield which will create 200 new jobs. The factory will be making the carbon-fibre chassis for McLaren cars.
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