Your commercial news round-up: Black History Month, party conferences, unicorns, Birkenstocks

Reading time: three minutes 

It’s been party time in the UK this month, not the type with cake though – instead British political parties have gathered to announce their plans for the country. Plus, we’re talking about Black History Month, unicorns in Cambridge and a shoe brand that’s just been publicly listed. 

• October marks Black History Month and this year there are twin themes: ‘Eliminating prejudice is everyone’s business’ and ‘Saluting Our Sisters’, honouring the achievements of Black women. Through this year’s theme we’re asked to play homage to the achievements of Black women, such as: 

o     Jocelyn Barrow, the first Black woman to chair the BBC; 

o    Dominique Palmer, a climate justice activist featured in the Forbes 100 UK Leading Environmentalists list; or

o     of course, Stephanie Boyce, the first person of colour to become president of the Law Society.  

According to charity Stop Hate UK, a total of 109,843 racially aggravated offences were recorded in 2021/2022, which serves as a reminder that more must be done, not only to make the legal profession a more inclusive place, but the UK as a whole.  

• October has been an exciting month in the political sphere with the UK’s annual party conferences taking place. The Conservative Party conference, which was held in the first week of October, saw the cancellation of HS2, education rise to the top of Rishi Sunak’s priorities and stirs of mutiny among party members as the attendance of Nigel Farage and Liz Truss supporters became causes for concerns. One of the biggest takeaways from the Conservative Party conference is arguably Sunak’s desire to be seen as the ‘change’ candidate and he embedded this idea in three ways: 

1. He mentioned the word ‘change’ 30 times in his speech. 

2. He condemned the past 30 years of politics as a failure, slating all previous prime ministers, including five conservative prime ministers, up until Margaret Thatcher. 

3. He laid out a plan to ban smoking for the next generation, arguably already outlining a clear legacy for himself. 

The Labour Party conference left a sparkle in all our eyes, but not because of transformative policy ideas. Instead, it’s because as Labour Party Leader Kier Starmer began his speech, he was doused in glitter by a protestor. After this eventful start, Starmer laid out the party’s five missions, which are:  

• getting Britain building again;
• "switching on Great British Energy”;
• getting the NHS "back on its feet";
• recruiting more police officers; and
• "tearing down the barriers to opportunity".

Starmer also addressed issues such as the ‘class ceiling’ and the importance of Scotland in the next general election. He also cemented the idea that he’s “ready to fight back” against the Conservatives, stating: "Trust me. Wherever you think the line is, they've already got plans to cross it." 

• Moving your attention to Cambridge now, where plans have been launched to double the number of unicorns in the city by 2035. For those thinking that unicorn populations don’t exist outside of fantasy realms, it’s important to state here that a ‘unicorn’ refers to a privately held company worth over £1 billion. The plan, devised by local universities, government and industry, outlines the proposal to boost the city’s multinational businesses in the area to 40 strong. Cambridge is seen as a core part of the UK government’s ambition to drive investment in technology and science in Oxford, London and Cambridge, which form what’s known as the ‘golden triangle’. 
   
• German shoemaker brand Birkenstock was listed on the stock market this week only to see its share price immediately fall by 12.6%. On Tuesday evening, prior to its listing, the cork-soled sandal company had its shares valued at $46. However, by the time trading closed on Wednesday, this had fallen to $40.2. It’s understood that one-third of the company’s public offering will be used to repay its debts, while the remainder goes to private equity owner L Catteron. 

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