Carluccio’s, one of the first casual dining chains to fall into administration due to the pandemic, has been purchased by Boparan Restaurant Group (“BRG”). Around 30 of Carluccio’s 70 UK sites will be acquired, keeping 800 jobs. The remaining staff will be laid off, and sites closed or sold.
On 11 December 2019, the President of the European Commission, Ursula von der Leyen, hailed “Europe’s man on the moon moment”. She was referring to the European Green Deal. The deal is an unprecedented plan, spearheaded by von der Leyen and her Vice-President Frans Timmermans, to transform the EU’s 27 Member States into a region defined by its sustainable development and low carbon economy. It charts a course for the EU bloc to be carbon neutral by 2050. But for this to happen, a lot will have to change.
The EU’s “New Deal for Consumers” initiative will see fines similar to those imposed by the EU’s General Data Protection Regulation Directive (GDPR) on businesses for breaches of consumer law.
Ted Baker recently announced a rescue plan combining an open offer to existing shareholders, and a placing, which will offer any outstanding shares to institutional investors. The rescue plan, which is selling shares at a discounted price of 75p a share, hopes to raise approximately £95m, with up to a further £10m available if new shares are also offered to the public in an offer for subscription.
Following 5 years of growth, litigation activity in the commercial courts have declined. There are suspicions within the industry that this trend is due to uncertainty surrounding Brexit.
The UK is in the process of finding out what Brexit really means. The result of the 2016 EU referendum is being decided by talks between 100 EU negotiators and their 100 British counterparts. What will these negotiators make of Brexit? Where will there be compromises? Who will get the best deal?
In July, the Financial Conduct Authority will ask the High Court to determine whether business interruption insurance is liable for loss of revenue caused by the lockdown.
Scientists are urging European countries like the UK and Italy against easing lockdown measures amidst rising coronavirus cases.
Nationwide CEO Joe Garner says that a borrower's credit record should be marked with a temporary notice if they choose to take a further mortgage holiday in response to COVID-19.
Thomas Le Bonniec, a 25-year-old former Apple contractor has identified himself as the source of anonymous leaks about Apple’s dubious voice recording practices. He announced his decision by writing an open letter to EU regulators, calling on them to take action.