Law and business: commercial news round-up 31.03.16
updated on 31 March 2016
A short week means a short round-up, but still packed with interesting (albeit uniformly depressing) news, as follows:
- Tata Steel announced that it would be selling all of its British operations in a massive blow to the UK steel industry and the thousands of people that work within it.
- The Tata announcement provoked an emergency cabinet meeting and a declaration from David Cameron that the government will step in to offer financial help, but nationalisation is not an option.
- The Bank of England is set to announce that it will be clamping down on buy-to-let mortgages and the landlords who use them, in an acknowledgement of the serious possibility of a property crash.
- A report reveals that despite more than two-thirds of British workers working longer hours than two years ago, there has been no commensurate increase in productivity.
- The good news? The UK economy grew by more than predicted in 2015. The bad news? The national current account deficit is at an all-time high, which means more money going out than coming in, and with figures described by one senior economist as “truly horrible”.
Be sure to check the News section every Thursday for this weekly commercial news round-up. Follow @LawCareersNetUK on Twitter and like us on Facebook for instant business news updates.
