Law and business news round-up: Article 50, Barclays, Carney, Nissan, gender equality
updated on 03 November 2016
Big news just in: in order for the infamous Article 50 to be activated and Brexit to occur, the High Court has ruled that it is not a decision for the government alone to make and that a parliamentary vote must be held. The government is expected to appeal the decision to the Supreme Court – watch this space. For other news of note, read on:
- Barclays has put aside an additional £600 million in anticipation of an increase in PPI claims. The increase, due in part to an extended deadline for claims, brings the bank’s total PPI allowance to £8.4 billion.
- Mark Carney has announced that he plans to leave the Bank of England in June 2019; the date is one year longer than the five years he had originally signed up for, but not as long as the additional five years the government was hoping he would stick around for.
- Going slightly against the trend of closures and downturns in the manufacturing industry, Nissan announced that it would be making a significant investment in its manufacturing plant in Sunderland, with plans to build its Qashqai and X-Trail models there and thus safeguard 7,000 jobs.
- A recent UBS report has revealed the gender equality works out well for everyone – specifically, the entire world, with the potential to add £10 trillion to the world’s economy.
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