Our
next event will be next week
at Indigo Blue on 9th November. The
topic will be 'Having established demand and support for our product what else
should we do to ensure commercial viability?" We hope to see you there!
A survey
today showed that business activity in the euro zone was not as robust as first
thought. This adds to signs that while the bloc’s recovery remains on track, it
is struggling to gain momentum. For the second month in a row, firms held
prices steady, despite costs rising at the steepest rate since July 2015,
indicating that companies' pricing power remained muted and that the European
Central Bank (ECB) may have to do more to drive up inflation.
Billionaire
inventor Sir James Dyson has said that it would not be a “catastrophe” if
Britain cannot agree to a deal to remain part of the single market and has to pay
tariffs on exported goods. He also said that the British economy and its
companies are doing “rather better than everyone thought” before the vote and
that the decline in the pound’s value had been a “huge benefit” to Dyson, which
exports 95% of its products. Dyson was one of the most prominent business supporters
of Brexit before the vote.
Sir Jon
Cunliffe, a deputy governor of the Bank of England, has warned that economies
across Europe risk losing out if London’s position as a dominant financial
centre is threatened due to Brexit.
Controversially,
Royal Dutch Shell, the world’s second biggest energy company (by market value)
has said it thinks that demand for oil could peak “before supply” and that “that
peak may be somewhere between 5 and 15 years hence”. According to CFO Simon Henry
“it will be driven by efficiency and substitution, more than offsetting the new
demand for transport”. This view puts Shell at odds with some of its biggest competitors
who say crude oil will be pumped out of the ground in increasing quantities for
decades.
European
shares fell on Friday, weighed down by weaker drugmakers after two U.S.
lawmakers called on federal antitrust regulators to open a probe for possible
price fixing. The U.S. lawmakers on Thursday called for a probe into whether
Sanofi, Eli Lilly, Merck and Novo Nordisk colluded to set prices for insulin
and other diabetes drugs. The sector has been hit recently by worries that
Hillary Clinton could seek tougher pricing regulation if she wins the race for
the White House.
Sources
close to the talks between Sir Philip Green and pension regulators told the BBC’s
Newsnight programme that an agreement could be struck by Christmas. However,
they still said that the former CEO of BHS could still walk away and embrace a
lengthy legal battle instead. The billionaire has offered over £300m as part of
a deal to restructure the collapsed retailer’s indebted pension scheme. However,
the Pensions Regulator has so far rejected the offer.
Latest
forecasts from the Bank of England predict that inflation will rise by close to
3% by the end of 2017, due to the declining value of the pound and fears of a “hard”
Brexit. In an indication that the Bank may be forced to raise interest rates
considerably sooner than markets currently expect, the Bank’s Monetary Policy
Committee stressed “limits to which above-target inflation could be tolerated”.
In Other News
Brexit
legal challenge wins: What does it mean for the economy? - http://www.independent.co.uk/news/business/news/brexit-legal-challenge-wins-pound-sterling-value-euro-dollar-economy-financial-markets-a7395986.html
Metro
Bank lets customers choose Mr, Ms, Mrs and Mx - http://www.bbc.co.uk/news/business-37865559
UK car
sales rise in October but consumer demand slumps again - http://uk.reuters.com/article/uk-britain-eu-autos-registrations-idUKKBN12Z0Y3
Workers
'priced out' of discrimination claims, says TUC - http://www.bbc.co.uk/news/business-37868410
Please comment below with your thoughts and opinions on this
week's business news. We always love to hear from you!
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