Law and business news round-up: ARM, Yahoo, Lowcostholidays, EasyJet, Brexit
updated on 21 July 2016
This week, we have tried to provide a more varied selection of business news, although we can’t entirely ignore Brexit-related updates (including as it relates to FirstGroup trains and buses, “untangling industry” and retail spending). But do read on for other stuff:
- The biggest commercial news this week was the sale of Cambridge-based tech firm ARM to Japanese company Southbank for a staggering £24 billion. ARM makes microchips found in most smartphones, including those of Apple and Samsung.
- But it’s a different story for poor old Yahoo, which is yet to find a buyer for its core business – details of a £332 million loss in the second quarter won’t be helping matters.
- In a slightly surprising judgment, the Supreme Court has said that “collateral lying” in an insurance claim won’t necessarily invalidate it. Insurers said it was a “blow for honest customers” and warned that policy prices could rise.
- The collapse of Lowcostholidays has left 27,000 customers stranded abroad and 110,000 bookings rendered useless; no surprise then that customers are angry that they may receive just £8 in compensation.
- EasyJet hasn’t got it much easier, as it faces up to a combination of international terror attacks, industrial action and a weakened pound, in what it calls “one of the most difficult environments we have seen in a very long time”.
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.
