Law and business: commercial news round-up 03.10.14
updated on 03 October 2014
Want to know what’s been happening in the business world that might be of interest to your future clients? Look no further than this collection of interesting business stories:
- Apple is in trouble with the European Union for its tax arrangements in Ireland, including an accusation that the company took illegal aid via "sweetheart tax deals".
- Can summer ever be too long or be too hot? It can if you’re a retailer like Next, hoping to shift your winter stock and having to deal with lower than expected sales because everyone’s still in shorts and flip flops.
- Supermarket rivalries and a strengthening pound saw petrol prices drop to lowest level in over four years earlier in the week.
- Payday lender Wonga has written off the debt of over 300,000 of its customers, to the tune of £220 million, following investigation by the Financial Conduct Authority.
- Virgin Money intends to list on the London Stock Exchange, aiming to raise £150 million.
- The Bank of England is calling for powers that would allow it to intervene in various mortgage arrangements, limiting the amount available to some homeowners, and helping to prevent another housing bubble.
Be sure to check the News section every Friday afternoon for this weekly commercial news round-up.
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