No time to read the papers? Check out our 60-second round-up of this week’s business news headlines. With the focus on the close of the financial quarter and small business prospects for the next one, this week we’re all about change. There’s also talk about how one major supermarket accidently helped create a new bill. Read on for all the details!
Feature of the Week
According to the latest figures from the Office for National Statistics (ONS), the UK economy grew by 0.5% in the last quarter. These figures suggest that the UK was among the best-performing of all the major economies in 2014. The BBC talks about what these figures mean for UK businesses and how the trend seems to be slowing down.
Other highlights this week include:
How the UK sacrificed pay for jobs | The Guardian.
Think tank’s study of “earnings since the recession” tells the story of how the UK has sacrificed better wages for more jobs. This means that although there are more people in employment, they’re not earning as much and have less of a disposable income. This article analyses how it will affect the UK in the future and how it got here.
After falling profits and a long list of corruption charges, Tesco made the executive decision to close down 43 of their stores after informing their staff. This article includes the published list as well as a statement from the chief executive.
Current proposals before Parliament will grant the Groceries Code Adjudicator (GCA) the power to impose penalties on large retailers of up to 1 percent of their annual UK turnover, depending on the breach of rules. Journalist James Davey, explains what changes will take place in full in this enlightening piece.
UK stocks fall to 1 week low at end, FTSE 100 dips 0.2% | Customs Today
UK stocks fell to near one-week lows on Thursday 29th with blame going to oil company Royal Dutch Shell weighing on the market after it missed targeted earnings. This article talks about how the fall in oil has hit energy shares, but has benefited other sectors such as transport.