Nissan, 5G, Glaxosmithkline, Boeing 737: your commercial news round-up
updated on 25 July 2019
As the UK braces itself for the hottest day on record and new Prime Minister Boris Johnson sweats it out during his first days at 10 Downing Street, stay cool and read our collection of commercial news stories. We’ve kept it short this week because we know that everyone’s brains (including ours) are slowly melting:
- Japanese car manufacturer Nissan has announced that it is cutting 12,500 jobs across the globe. The company will reduce its production capacity and the number of models it produces by 10% by the end of 2022, also announcing a 94.5% fall in net income for the first quarter of 2019.
- O2 will launch its 5G mobile network service in six UK cities in October, including Belfast, Slough, London and Leeds. It becomes the last of the UK’s network providers to roll out 5G but the only to do so without the use of equipment from controversial Chinese telecoms giant Huawei.
- Sales of a shingles vaccine have boosted Glaxosmithkline’s (GSK) earnings in 2019 more than previously thought. The vaccine Shingrix made £386 million in the US, bringing the UK pharmaceutical company’s sales of vaccines to £1.6 billion. The news comes as a relief as GSK recently lost the exclusive right to create the asthma drug Advair.
- Boeing may stop producing its 737 Max as the blighted model remains grounded due to safety concerns. The aircraft manufacturer reports its largest ever quarterly loss this week and has said that if regulators continue to ground the plane, they would potentially reduce or shut down production of the 737 entirely.
- Boris Johnson has appointed his former rival Sajid David as the UK’s new Chancellor of the Exchequer. Read this BBC summary of what to expect from him as new chancellor.
Be sure to check the News every Thursday for this weekly commercial news round-up. Follow @LawCareersNetUK on Twitter and like us on Facebook for instant business news updates.
