Global markets, UK construction, Tesla, Homebase, Tesco, Brexit: your commercial news round-up
updated on 08 February 2018
A jittery start to the week on the world’s stock markets saw share prices plunging; this week’s round-up discusses both this and other key business news:
- Monday saw a massive shake-up on the Dow Jones, when it suffered its biggest fall since 2011, in part prompted by rising interest rates in the United States. It had repercussions around the world, with markets in Tokyo, London, Paris and Frankfurt also suffering losses. Some ground was recovered on Tuesday, but investors remain jumpy.
- The construction industry had a depressing January, with figures showing that growth had almost stopped altogether and had fallen to its lowest level in four years.
- No stranger to publicity stunts, Elon Musk went stratospheric on Tuesday with his successful rocket launch and a Tesla roadster now floating forever in space. However, just one day later he announced the company’s biggest ever quarterly loss - $675.4 million in the three months to 31 December 2017. Swings and roundabouts, eh Elon?
- Recently purchased and rebranded as Bunnings, the number of Homebase stores is expected to shrink substantially if expectations of a £97 million loss for the first half of 2018 come true.
- Tesco is staring down the barrel of a history-making equal pay claim which could total £4 billion. Its female warehouse workers are claiming pay parity with their male co-workers, and the right to around £20,000 each in back pay.
- This week’s (leaked to the Guardian) Brexit analysis from the government shows that a ‘hard’ deal would see public services suffer to the tune of £80 billion and an average 21% rise in retail prices.
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.
