Law and business: commercial news round-up 11.06.15
updated on 11 June 2015
Commerciality; as far as law firms (and their recruiters) are concerned, you can never have too much of it, nor start developing it too early. Read on for your weekly dose of what’s happening in the business world and the sorts of issues you need to have a bit of a clue about:
- Lloyds received a record fine of £117 million for its failure to treat customers fairly in relation to their PPI compensation claims in 2012-13.
- UK growth forecasts have been cut by the CBI, influenced both by the Greek economic crisis and the prospect of an EU referendum.
- Gateley has become the first UK law firm to list on the Alternative Investment Market, garnering its partners a healthy £25 million to share among themselves.
- HSBC is in the grip of a major global shake-up, shedding 25,000 jobs - 8,000 in the United Kingdom - and rebranding its high street branches. Could the old Midland Bank be making a comeback?
- In the annual Mansion House speech, Bank of England governor Mark Carney said that the "age of irresponsibility" in the financial sector has come to an end, setting out plans to regulate the fixed-income, currency and commodities markets.
- George Osborne also used the annual City event to announce the selling-off of RBS, in which the government currently has an 80% stake.
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.
