Commercial news round-up: budget, living standards, Uber, Tesla, Wizz Air
updated on 23 November 2017
The big news this week is yesterday’s budget – the BBC provides a useful outline of the key points, which include the removal of stamp duty for first-time buyers on properties up to £300,000; £1.5 billion to be devoted to addressing universal credit concerns; and new measures to crackdown on tech giants which route their profits through low-tax countries (otherwise known as the “Google tax”). For other business news of interest, read on:
- In news that the government was probably hoping to minimise with some of its more popular budget points, research conducted by the thinktank Resolution Foundation shows that the UK is now headed for its longest fall in living standards since records began over 60 years ago.
- Uber concealed a huge hack to its data, potentially affecting 57 million users and drivers around the world. Adding to its already chequered history, Uber has yet again shown that it is not averse to skirting the rules of corporate responsibility, with revelations that it paid the hackers $100,000 to delete the data and conceal the hack.
- In exciting electric vehicle news, Tesla has revealed its first articulated lorry, which could serve to revolutionise the world of diesel-driven truck logistics. Simultaneously, it showed the world its new roadster, which Musk claims will be “the fastest production car ever made”.
- Wizz Air has announced plans to expand its UK operation; based in Luton, it will be introducing new routes and investing in new planes.
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