Law and business: commercial news round-up 14.01.2016
updated on 14 January 2016
This week’s business pages have been dominated by revelations of which retailers did well over Christmas and which did not. Here are a few headlines to whet your appetite:
- Sports Direct is in the doldrums as it reports poor Christmas sales and a profit warning related to the possibility of £40 million less than expected.
- Unlikely supermarket winner was Tesco, which enjoyed a 1.3% rise, and as a result saw its share prices jump by 7%.
- Sainsbury’s was also pleased – not that sales were up, but that they didn’t fall by as much as had been predicted. Mog the cat has been credited with pulling them back from the brink.
- Morrison’s news that its Christmas sales were up was tempered by the revelation that it would be closing seven of its stores and losing 700 staff.
- In non-retail news, Vodafone has signed a £75 million four-year deal with Scottish Power that will see the telecoms company running “performance monitoring and fault identification systems for over 110,000 kilometres of Scottish Power’s lines and cables”.
- Economists at RBS have warned investors that they could be facing a “cataclysmic year” and they should be selling up everything in advance of a stock market crash. Cheerful!
- Finally, you may think that you know what a unicorn is, but what about a “unicorn firm”? Let the BBC explain more about this mysterious creature….
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.
