Law and business: commercial news round-up 10.09.15
updated on 10 September 2015
A decidedly autumnal feel in the air should invoke that "back to school" feeling, sharpening the senses and focusing the mind on the new term ahead. Among other things that will be required of you, continuing to build on your commercial awareness should be on your list. Read this collection of business stories to get you started:
- The Bank of England has voted to maintain an interest rate of 0.5%, with global risks from the slowing Chinese economy cited as one reason to stick with the status quo.
- August was the worst month for the high street retail sector since 2008; bad weather and more people taking overseas summer holidays were given as reasons.
- Tesco has sold its South Korean stores, operating under the ‘Homeplus’ name, for £4 billion, It intends to use the funds to "pay down debt and help revitalise its UK business".
- Commodities giant Glencore is planning for a "doomsday scenario" with a $10 billion programme of both cuts and fundraising - even the CEO has had to chip in £140 million of his own cash as part of the package.
- Whitbread has warned that the introduction of a national living wage will lead to price rises in its many hotels, restaurants and coffee shops (eg, Premier Inn and Costa).
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.
