Law and business: commercial news round-up 06.02.15
updated on 06 February 2015
No preamble required: straight in with this week’s essential business reading:
- Once of the few remaining companies to offer a final salary pension, John Lewis has announced that it is ditching the scheme and replacing it with a hybrid staff contribution scheme.
- British steelmakers are calling on the government to "act vigorously" and defend the industry from cheap foreign imports.
- Santander has reported a huge jump of 32% in its annual pre-tax profits, citing a rise in new loans and reduced costs.
- On the other side of the profits fence is BP, which this week announced a $1 billion loss, related to massively reduced oil prices and continuing fines for the Deepwater Horizon spill, among other things.
- Britain’s oldest company – an insurer founded in 1852 for Victorian teetotallers – has been taken over by Scottish Friendly.
- Could it get any worse for Tesco? It seems that it can, with news that the supermarket chain is being investigated in relation to claims of abuse of position and ill-treatment of its suppliers.
- Finally, The Economist explains why "currency volatility has got worse".
Be sure to check the News section every Friday afternoon for this weekly commercial news round-up. Follow @LawCareersNetUK and @CityLawLIVE on Twitter for instant business news updates.
