Law and business: commercial news round-up 04.06.15
updated on 04 June 2015
It’s summer, it’s likely that your exams are over and it’s time to kick back, right? Well yes, for a bit, but not entirely – if you’ve got training contract applications on your agenda, then you need to be keeping an eye on the commercial world for key stories that could come up in your interviews. To wit, the following hand-picked stories from this week’s news schedules:
- In a classic case of passing the buck, former CEO of Lehman Brothers has said in his first public speech since 2008 that the bank was a "victim of wider market excesses and regulatory failings", blaming both the government and aggressive hedge fund tactics.
- The unfolding FIFA scandal has consequences far beyond football: Robert Peston looks at why sponsors aren’t being tougher on FIFA and The Economist explains why the United States is pursuing it and which of its laws it can bring to bear.
- News that immunotherapy may be a possible cure for some cancers has caused various big pharma companies to want to get in on the action, tempted by a potential £26 billion in annual sales.
- Greece and its creditors have this week again failed to reach a deal that would unlock an extra £7.2 billion, with the former stating that it "will not succumb to blackmail" and the latter that "it is not right to think we will meet half way".
- The number of cash buyers of UK property is at an all-time high, with 38% of buyers in the first quarter not requiring a mortgage.
- The Libor scandal rumbles on, with testimony this week from the trader accused of masterminding the conspiracy that rigging rates was "industry-wide practice" and that UBS had "no rules" on Libor.
Be sure to check the News section every Thursday for this weekly commercial news round-up. Follow @LawCareersNetUK and @CityLawLIVE on Twitter for instant business news updates.
