Law and business news round-up: HSBC, Northern Powerhouse, EasyJet, GDP
updated on 26 January 2017
With the biggest vac scheme deadline of the year looming (31 January), now’s the time to get your head back in the game, commercial-awareness-wise. You may find yourself being quizzed on your knowledge of economic affairs in vac scheme interviews, so it pays to be prepared. Here’s a selection from the past week to get you started:
- HSBC announced plans to refund £4 million to thousands of its customers who it overcharged after they fell behind on credit repayments.
- The government has revealed that it will support key business sectors (eg, pharmaceutical, transport and energy) in a variety of ways, including by “addressing regulatory barriers, agreeing trade deals and helping to establish institutions that encourage innovation”.
- The Northern Powerhouse is also to get a significant financial boost from the government, in the form of £556 million in investment. However, critics have said too much of that is focused on Manchester alone.
- Sir Stelios, acting for EasyGroup, is protesting against plans for EasyJet to increase its fleet of planes, amid shareholder concerns about falling profits.
- Contrary to expectations, UK GDP was in surprisingly robust shape at the end of 2016, reporting 0.6% growth in the last quarter. However, the TUC general secretary has warned against complacency, referring to a challenging year ahead.
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.
