Markets react to Syria, Facebook, US-China trade tensions, Carpetright: your commercial news round-up
updated on 12 April 2018
The war in Syria is rightly at the centre of the news, including the business pages. Oil prices have risen to a three-year high, while stocks have fallen across the world’s markets in response to the escalating tensions between the United States and Russia as they conduct proxy war in the devastated country. Such news pales in comparison to the human impact of horrifying war crimes involving the use of gas on a civilian population, and the potential for a misunderstanding or flash point between the two nuclear powers leading to a confrontation that is dangerous for all life on earth. Nonetheless, it’s a stark illustration that following the business world to build your commercial awareness also requires understanding current affairs.
Here are some of the other main developments in the commercial sector this week.
- The UK economy has had a bad start to 2018, with The National Institute for Economic and Social Research saying that growth has fallen by half in the opening months of the year.
- The head of the International Monetary Fund, Christine Lagarde, has warned that trade tensions between China and the US mean that the current system of world trade is “in danger of being torn apart”. Lagarde was referring to the protectionist tendencies in both the Chinese and US administrations, which contrast with her organisation’s support for free trade.
- Struggling retailer Carpetright is battling not to be the next big chain to buckle under changes in consumer habits and increased competition from online businesses. The company has announced the axing of 300 jobs and the closure of 92 stores as part of its rescue bid.
- Despite widespread outrage at Facebook and its chief executive, Mark Zuckerberg, for the company’s lax attitude to its users’ personal data that allowed Cambridge Analytica to potentially subvert democracy on both sides of the Atlantic, the social media giant has seen its income from ad spending increase by some 15% since the revelations broke.
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