Pret, women on boards, FirstGroup, Govia, overdraft regulation: your commercial news round-up
updated on 31 May 2018
Time to really get to grips with what firms are looking for from their future trainees – we published this feature recently, and among the long list of attributes, commercial awareness is pivotal. It is essential that you take an interest in the world around you and particularly the way in which the law and business sectors intersect. For this week’s selection of topical stories, read on:
- Pret a Manger has been sold by its private equity owner, Bridgepoint, for a rumoured £1.5 billion. The UK’s favourite sandwich and coffee purveyor, which now has 530 stores worldwide, has been bought by JAB Holdings.
- Offering a depressingly familiar litany of excuses, some of the country’s biggest companies have tried to explain why so few women are on their boards – a report of the FTSE 350 has shown that representation by senior women remains pitifully low, with executives offering reasons such as, “We have one woman already on the board, so we are done - it is someone else’s turn”.
- The CEO of FirstGroup, the beleaguered train and bus company, has stepped down after the company reported a £327 million loss last year. In other transport news, the government has been urged to take action against Govia Thameslink and its chaotic introduction of a new timetable, which has seen thousands of commuters not going anywhere.
- The Financial Conduct Authority has published its report on high-interest credit, and proposed some radical changes to the way that banks run their overdrafts. Banks are said to have made an estimated £2.3 billion in revenue from overdrafts in 2016.
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.
