Law and business news round-up: Davos, Brexit, Barclays, Freddoes, emissions cheats, Ray-Bans
updated on 19 January 2017
So what’s happening in Davos? The World Economic Forum, that’s what. The world’s great economists, business leaders, journalists and politicians have again gathered to discuss the most pressing issues facing the planet (big remit). For live updates of today’s highlights, including Theresa May’s speech, follow the Guardian’s live business blog. For other news, read on:
- It was a big week for speechifying for May, as she announced the government’s Brexit plan. Key points, including that there will be a vote in Parliament and that Britain will not remain part of the single market, are handily detailed here.
- The director general of the CBI, Carolyn Fairbairn, warned that Britain risks a “disorderly crash landing” if it assumes it can safely walk away from troublesome Brexit talks.
- On the plus side, Barclays chief said that London will remain the “financial lungs of Europe” despite Brexit and other banks (eg, HSBC and UBS) stating their intention to move staff to other parts of Europe.
- More distressing chocolate-based news from Toblerone owner, Mondelez; the price of Cadbury’s Freddoes will rise by a staggering 20%, with other chocolate bars expected to also be affected.
- Both Renault and Fiat Chrysler are following in the ignominious footsteps of Volkswagen as they face investigation for alleged emissions test cheating.
- Ray-Ban maker Luxottica, which is the world's biggest glasses maker, is to merge with French lens maker Essilor, in a deal that is worth an eye-watering €46 billion.
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