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Sony, owners and creators of the gaming sensation PlayStation, have been hit with a lawsuit with a possible £5 billion pay out.
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The UK government has once again extended its trade sanctions with Russia.
The UK underwent a record-breaking heatwave in July with another hitting the country in August.
The UK has blocked a Chinese company from purchasing intellectual property from the University of Manchester using its powers under the National Security and Investment Act.
The Prisons and Probation Ombudsman published an investigation report outlining a recent rise in infant deaths in prison cells.
he state-run enterprise existed for nearly fifty years before a conservative led government began the privatisation process in the mid-1990s, which witnessed the breakup of assets, the inception of rail franchising and a newly created infrastructure company called Railtrack. Fast forward to 2021, and Britain’s railways face a new and unprecedented challenge brought on by COVID-19.
From 1 October 2021, the requirements for prepacked for direct sale (PPDS) food labelling will be changing in Wales, England, and Northern Ireland, due to a new ruling passed in September 2019 known as ‘Natasha’s Law.’
This author will argue the legislation afforded to victims is sufficient and that the current mechanisms adopted by the courts act as a check and balance system. Additionally, this author will also highlight that social media companies have empowered many social media users to take action into their own hands, rather than being reliant on the courts to remedy every instance of harmful communication. Therefore, the courts should not be lowering the threshold which would allow an increase of cases to be brought forward. This author will also highlight that the courts respect the right to freedom of expression but have installed a classification and hierarchy on speech, therefore allowing a court to concentrate its efforts on the truly abhorrent content worthy of criminal proceedings.
To comply with Chinese government regulations, foreign law firms are prohibited from merging with Chinese law firms that employ Chinese lawyers (KWM) and mergers with KWM are called strategic alliances and are formal occasions for two firms to merge offices in Hong Kong. The large number of foreign offices of Yingke was symbolic and real, as the firm was the only Chinese law firm with a global network of services for its lawyers and clients in the first years of their expansion.
Blue Origin’s New Shepard rocket-capsule combo aced its latest mission on 26th August 2021, an uncrewed jaunt that carried a variety of scientific experiments, as well as some pioneering artwork, to and from suborbital space.
At every major sporting event, there is a wider range of legal issues to consider that touch upon all aspects of the event from corporate and commercial through to regulatory and disciplinary matters. Parties to these issues include the organisers, rights-holders, governing bodies, teams, and athletes. The Olympic and Paralympic Games that will be hosted in China in 2022 will be no different.
The outbreak of COVID-19 and the resulting lockdowns have taken a heavy toll on SMEs. To contain the virus, authorities relaxed some of the lockdown restrictions in April. This article touches on the implications SMEs faced across the globe due to COVID-19.
![Brexit Took My Fish! [Impact of Brexit in the UK Fishing Industry]](https://images.squarespace-cdn.com/content/v1/5e909fd4395f0523b82e9958/1629100631440-HV3SADVNYLE50LIIOCUI/unsplash-image-wPJygs79jMA.jpg)
Cllr Rob Hannaford is Chairman of a Labour group that wants Devon County Council to join local fishermen industry leaders in calling on the government to tackle the growing crisis in the fishing sector caused by complicated new export rules, unclear catch quotas and growing bureaucracy.
Former Metropolitan Police officer, Wayne Couzens, has pleaded guilty at the Old Bailey to the murder of Sarah Everard in March 2021.
The Spanish premier league, La Liga has agreed to sell a 10% stake of it’s ownership to CVC Capital Partners. Whilst the deal requires the approval of clubs, some football clubs are not happy!
Pfizer Inc and Moderna Inc have raised the prices of their COVID-19 vaccines in their latest European Union Supply Contracts.
A report assessing the impacts of COVID-19 on the legal industry has been released by Wolters Kluwer at the end of June 2021, titled “The 2021 Wolters Kluwer Future Ready Lawyer: Moving Beyond the Pandemic”.
The UK left the European Union (EU) on 31st January 2020 through the process well-known as Brexit. However, the UK later applied to re-join the Lugano Convention (the Convention) in April 2020 as an independent contracting State.
The already controversial Police and Crime Bill passed through the House of Commons this week and also poses a huge threat for people who are homeless or sleeping rough, criminalising any individual for sleeping rough or sleeping in their vehicle if on ‘private land.’
Sellers are hiking their price tags to a record high for the fourth consecutive month despite the disappearance of stamp duty savings due to a drought of properties on the market.
The existence of trade unions should be more apparent within a 21st Century Britain. At a time when the UK’s political, social and economic landscape is disjointed and divided, it is argued that the presence of solidarity should be welcomed.
The GERD project is one that is essential to Ethiopia’s rise from poverty and general development, yet its consequences may be disastrous to Egypt’s water access.
Increased Flexibility for e-signatures in Singapore, but wills and mortgages must still be signed in wet ink.
Following the ongoing debate over the US’ proposal to introduce a temporary waiver of COVID-19 vaccine patent requirements, the introduction of compulsory licensing measures has been put forward by the World Trade Organization (WTO) as a solution to the potential problems a waiver could cause.
Two hydroelectricity plants of the Baihetan Giant, the largest ever hydroelectric dam to be built worldwide, produced energy for the first time on Monday on the Yangtze River in Southwest China.
In the Chinese US trade war, one thing is certain. Currency manipulation is a common Chinese trade tactic, but its efficacy is based on American dependence on Chinese produced goods, seen as beneficial because of cheap labour.
As of 1st June 2021, the Whiplash Reform Programme came into force, attempting to “tackle the high number and costs of whiplash claims and the impact these have on the cost of motor insurance premiums.”
At the recent G7 conference held across 11-13 June 2021, leaders of some of the world’s wealthiest and most powerful nations pledged to make multinational companies pay more tax.
The Trade and Co-operation Agreement (‘TCA’) came into force following Brexit in January 2021.
The FCA successfully followed up on their October announcement to ban cryptocurrency derivatives, taking effect on January 6th 2021. This has been justifiably criticised by the investing community, for a lack of factual ground and practical enforceability. It appears to be more of an attack on digital assets then a well-reasoned choice of regulation, hence, there should be concerns about the future of financial freedom.
On the 12th January 2021, the UK Government announced that the peak of infections for Lockdown 3 had arrived and was in their words “levelling off”. [1][2] On 27th January 2021, the BBC News reported that the Government were setting out a “roadmap out of the lockdown”.
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It has been confirmed that on 21st January, Pregnant Then Screwed (PTS), an organisation that campaigns on issues that impact working mothers and offers support to those facing maternity-based discrimination, will be taking Rishi Sunak, the Chancellor of the Exchequer, to the High Court for discriminating against women in the Self-Employment Income Support Scheme (SEISS).
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At London’s Heathrow International Airport, a new air traffic controller is in control at the tower. AIMEE, Searidge’s AI platform, is able to use geo-location tracking of an aircraft to ensure that a runway is ready for the next aircraft in sequence to land.
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China, which was starting to be seen as a rising capitalist power and the land of opportunity by its people, is now uncompromisingly at war with this notion. With its ever-increasing trade sanctions and restrictions on mass media, it comes as a shock that China has agreed a trade deal with Europe.
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During 2020, the USA found itself in the middle of a tax war with France. This was in response to Macron placing a “3% levy on all revenue earnt from digital services used in France.” Branded as the dreaded ‘tech tax’, this naturally had a huge impact on tech giants such as Facebook Inc, Amazon Inc and, of course, Google.
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Spain's biggest economic hurdle has been youth unemployment, at around 40%, for many years. Now it has become one of the hardest COVID hit nations within Continental Europe. The nations’ central bank has predicted a 15.1% contraction in the economy if there is a 2nd wave of lockdown restrictions.
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In July 2020, a Bosnian volunteer handed over more than “1,600 pages of media reports and personal testimonies to Austria’s parliament, documenting the brutality of Croatia’s border police against irregular migrants”. The Border Violence Monitoring Network has observed an “increase in violence against refugees on the Croatian side since spring 2017”. Yet most, if not all, reports of violence by Croatian police continue to go unchecked.
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Despite Norway’s green credentials, its wealth has mostly been accumulated from huge oil exports.[LE1] Norway’s Nature and Youth group along with Greenpeace Norway are challenging what they describe as ‘double standards’, in a lawsuit disputing government issued oil licenses.
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On 11 December 2020, the UK Supreme Court handed down a landmark ruling on the hugely anticipated Merricks v Mastercard case.[1] This has followed the £14bn collective action on behalf of 46.2 million consumers, brought against Mastercard concerning anti-competitive interchange fees.
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Throughout 2020, NHS workers worked tirelessly to save thousands of lives across the UK. While their efforts have been praised via social media channels and “clap for carers” last year, NHS workers are still being overlooked by the government after requests for a 15% pay rise have been ignored.
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The Law Society has again called for non-means tested legal aid to be made available to domestic abuse victims after government data revealed unprecedented high numbers of family court applications. Data from the Ministry of Justice last week showed an increase in the number of domestic violence remedy order applications between July and September this year.
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There has been an ‘urgent notification’ issued to the justice secretary addressing major concerns of the quality of care and leadership at a privately run youth prison near Rugby.
This notification could be considered emergency action, and these notices are rare, but the so-called “bleak regime” has raised widespread concern.
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Facebook is being sued in the US in a landmark lawsuit that could end up with the tech giant being stripped of its prized assets, Instagram and Facebook.[1] Regulators, who argue Facebook built its digital monopoly over the years by violating antitrust (competition) laws, are considering breaking up the company.
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The UK government has appointed a panel, led by former Court of Appeal Judge, Sir Peter Gross, whose task is to review and critique the ‘structural framework’ of the Human Rights Act 1998 (“HRA”).
Though it was only 10 days ago that the first person in the United Kingdom had received the heavily anticipated Pfizer vaccine, said to be 90% effective against combating Covid-19, increasing whispers about a different variant or modified strain of Covid have been spreading through the South East of England, about as quickly as the new strain has too.
Recently, influential legal and commercial entities have joined the bid for the UK’s accession into the convention by writing to Charles Michel, president of the European Council. These include the law societies of England and Wales, Scotland and Northern Ireland; City of London Corporation; British Retail Consortium; British Chamber of Commerce EU & Belgium; Which?; and the Chambers of Ireland.
The title, a famous Hollywood line from Top Gun, brings back wonderful high-speed memories of the Concorde. The legendary aircraft of old has been grounded and retired since 2003 after more than 30 years of record-breaking commercial flights. However, putting aside it’s breaking of the sound barrier, the Concorde’s wings were clipped for various reasons, and the major reasons being environmental.
The UK will be issuing its first ever Sovereign Green Bond and will become the first country in the world to make Task Force on Climate-related Financial Disclosures (TCFD-aligned disclosures) mandatory by 2025.
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On Wednesday 9th December, Labour's Dame Diana Johnson introduced a Ten-Minute Rule on the ‘Sexual Exploitation Bill’. If introduced it would make paying for sex a criminal offence and decriminalises selling sex. This would create offences of enabling or profiting from someone else's sexual exploitation, among other things.
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With the imminent arrival of the first vaccinations against COVID-19, the Labour Party has called for new laws to introduce criminal and financial penalties for social media companies that fail to crack down on misinformation surrounding coronavirus (specifically “dangerous anti-vaccine content” that appears on their networks.
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Poland’s government has delayed the court ruling that would ban most abortions. After it triggered the largest protests since the fall of communism in the country.
In an investigation conducted by The Guardian, it was found that the UK government procured PPE kits from Chinese factories that employed North Korean women working under conditions of ‘modern slavery’. The government received huge backlash and criticism from Human Rights activists for their lack of due diligence in coming up with policies and steps that instead of discouraging and tackling the problem of modern slavery, aided and contributed to it.
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The SRA defines money laundering as not a victimless crime – “it has severe impacts across our society and economy. It allows criminals and their associates to use funds from crime, such as the illegal drugs and firearms trade, people trafficking and fraud.”
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While this year has undoubtedly been one for the history books, seeing a housing ‘boom’ is something many wouldn’t have predicted. However, it turns out that not only being cooped up with in-laws, parents, and partners has been a blessing for the stable family unit, it’s seemingly worked wonders for the property market too.
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Multiple individuals have reported receiving marketing emails from Klarna, a ‘buy now, pay later’ service, despite never having signed up.
The Information Commissioners Office (ICO) have announced that they will make enquiries into Klarna, as many people complained after receiving the email.
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The chair, co-secretary, and a number of other members in Bristol West Labour have been suspended from the party and threatened with an investigation after it passed a motion criticising the treatment of former leader Jeremy Corbyn as a “politically motivated attack against the left of the Labour Party by the leadership”.
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The United Kingdom’s (UK) Conservative government has announced plans to consider renaming and reforming the UK’s Supreme Court. These changes are currently under ministerial discussion.
Blockchain is essentially digital information stored in a public database. This technology is gaining popularity among the luxury retail sector. For example, in 2019 it was announced that LVMH would be launching the first global blockchain, using the Aura platform to allow consumers to trace the origin and authenticity of products.
Due to the unpredictability of COVID-19, aviation experts do not expect aviation traffic to return to pre-pandemic levels until 2024. Nevertheless, when the aviation industry rebounds, it should work towards building a significantly more sustainable industry than the one we know today. This means putting the industry on a sounder financial footing and making flying less polluted.
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Last year, the global conglomerate, LVMH announced that it would be going ahead with the acquisition of Tiffany, however, in September 2020, LVMH backtracked and decided against the 16.2-billion-dollar acquisition due to the ongoing trade war between their home state of France and the United States.
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The UN Independent International Fact-Finding Mission on the Bolivarian Republic of Venezuela published its first report on 16 September 2020. In this, it recognised the numerous cases of extrajudicial executions, torture, excessive use of force, arbitrary detentions et al under the regime of Nicolas Maduro, the President of Venezuela.
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The world is currently experiencing a Gold rush, as prices rocket to $2,000 per troy ounce. While we are experiencing a global pandemic, Gold has experienced a 36% price increase which is a figure greater than any other stock index so far in 2020.
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The UK Government has proposed a controversial Internal Market Bill which would come into effect from 1 January 2021.
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On August 23rd, 2020, Jacob Blake, an unarmed black man was shot multiple times by Rusten Sheskey, a police officer in Kenosha, Wisconsin. The shooting occurred two months after the Democratic-controlled U.S. House of Representatives passed the George Floyd Justice in Policing Act (2020), a civil rights bill aimed at combatting racial bias, police misconduct, and the use of excessive force.
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The Council of Europe has just issued the UK government with a Level 2 “media freedom alert”, for threatening press freedom after it blacklisted a group of investigative journalists and denied them access to information. It follows a similar warning issued in May this year and the exclusion of ‘The Independent’ from a technical briefing in February.
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Mr. John Christopher Depp, brought an action for libel over articles published by The Sun, branding Mr. Depp a “wife-beater” and making false allegations of verbal and physical abuse, contrary to the Domestic Violence, Crime and Victims Act 2004. According to Depp’s barrister David Sherbourne, the article made “defamatory allegations of the utmost seriousness”.
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The US stock index is ahead of other major indices around the world, particularly Europe. The benchmark US stock index, the S&P 500 swiftly regained the ground lost during the pandemic
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The Coronavirus Job Retention Scheme (CJRS), also known as the furlough scheme launched in March had paid out £35 billion and has been used by 1.2 million employers enabling 9.6m jobs to be furloughed. The UK tax authority has claimed that UK may have paid out up to £3.5 billion in furlough money on fraudulent or mistaken claims.
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The government is planning on imposing targets for the police and Crown Prosecution Service (CPS) in response to the recent statistics showing years of decline in the number of rape cases reaching the English and Welsh courts. The targets are being enforced by the Prime Minister’s crime and justice task force in an attempt to force rape prosecutions to rise.
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The economic activity in the United Kingdom and all over the world has declined drastically amid the global health emergency caused by coronavirus. Foremost among the industries most affected by the economic lockdown is the UK's travel sector, depending on the duration of the crisis, OECD estimates indicate that the potential shock could range between a 60-80% decline in the international tourism industry in 2020.
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The PPI scandal has become the largest consumer redress scheme in British history, with an estimated £38 million paid out to consumers who were mis-sold the policy, with yet more to come. The deadline to file for compensation for PPI fell in August 2019. However, the case has not been put to rest as there is, in fact, another layer to the PPI scandal.[1] On top of the initial mis-selling of the product, which banks have been ordered to compensate buyers for, lenders took a huge commission from the insurance broker in some cases 95% of the original policy's cost, without telling the customer they were doing so.
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There are suggestions that the UK’s Chancellor will not seek to extend the furlough scheme beyond the October deadline, something that the Bank of England governor supports.
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The UK arm of Victoria’s Secret has been hit by changing consumer tastes and weakened spending. The retailers hired administrators from Deloitte after being hit by the coronavirus lockdown putting more than 800 jobs at risk.
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Potentially one of the most unexpected consequences of Covid-19 has been the revelation of a symbiotic relationship between human prosperity and the environment. Inextricable links have been identified between the natural world with all areas of human experience. Beyond environmentalism, sustainability has become imperative for national recovery in its entirety.
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Temporary changes have been made to the UK Mental Health Act (MHA) 1983 due to the coronavirus outbreak, the Coronavirus Act 2020 is a new UK law to help under staffed mental health services cope during times of crisis. Although currently, the changes don’t apply, they are available to be used if the situation demands so.
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The General Court (GC), Europe’s second-highest court, annulled a 2016 ruling made by the European Commission to block a proposed £10.25bn merger between O2 and Three on consumer interest grounds. The court ruled that the Commission had made several ‘errors of law’ and could not prove that competition would be harmed in the crowded UK telecoms market. This landmark ruling strikes a blow for Margrethe Vestager, the EU’s tough-acting competition commissioner, and could pave the way for further consolidation between Europe’s mobile operators.
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In a clause added to the Domestic Abuse Bill, on 6th July 2020, the House of Commons ruled out ‘consent for sexual gratification’ as a defense for serious harm caused to a person. This would make it difficult for defendants in cases of sexual harm, rape or murder to take the defense that the offence occurred ‘accidentally’ in the course of sexual act that was completely consensual.
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At the beginning of the summer, the government launched its ‘Pick for Britain’ campaign, to encourage the unemployed, furloughed or students to take minimum wage harvesting and packing jobs in the agricultural sector. An inquiry carried out by BBC’s Farming Today has revealed what the new workers experienced when performing roles usually held by foreign workers. The things they were faced with ranged from poor industry practices to fully-fledged human rights abuses and situations that could qualify as modern slavery.
A York County Court has ruled that the use of the ‘No DSS’ letting ban is unlawful, due to indirect discrimination.[1] The case was brought by the charity Shelter on behalf of a disabled single mother who enquired about renting a two-bedroom property in the city and was told her application would not be considered as she was in receipt of housing benefit.
Judges at one of the EU’s leading courts quashed an order by the European Commission (EC) for Apple to repay over €14.3bn in taxes to Ireland. The ruling stated that the EC had failed to achieve the ‘necessary legal standard’ when claiming that Apple had received an illegal and selective economic advantage from Irelands’ Revenue Authority.
The Wirecard incident is one of Europe’s biggest accounting fraud scandals. It shook confidence in corporate Germany as Wirecard was forced to file for insolvency last month after admitting that €1.9bn of its cash probably did not exist. This has triggered a criminal probe into the group’s former executives as well as an EU investigation into BaFin, Germany’s financial regulator.
A regional reduction in property prices coupled with diminished transaction levels has led to heedful property surveyors producing cautious property estimates. This can be largely contributed to an industry fear of over-valuation and a lack of post-COVID housing market data.
The national security law is a new piece of Beijing backed legislation that allows for the extradition of Hong Kong citizens to the Chinese mainland. It leaves some of the world’s largest businesses facing an unenviable choice: between losing out on the island’s unique financial possibilities and tacitly supporting an expansionist government.
Across various sectors in the United Kingdom (UK) workers are experiencing labour abuses creating a serious modern slavery problem in the UK. The latest Global Slavery Index released in July 2018, estimated the number of victims of modern slavery in the UK at 136,000
The administration of Intu properties has shown that if the current trend towards online over physical retail continues, firms could see a shift in their client’s business focus and an increase in administration and insolvency work for many high street retailers and shopping centres.
A ground-breaking case has just begun in the Court of Appeal. The case concerns automated facial recognition technology in public places and if its use breaches privacy rights.
In recent years, online retailers such as ‘Missguided’ and ‘PrettyLittleThing’ can provide you with ‘wear once and throw away’ goods. They are cheap, cheerful and can be delivered to your doorstep within 24 hours of ordering. Yet, despite their benefits, cheaper on-trend garments come with consequences to those who are producing the goods.
Within the coming days, Ethiopia is to fill the $4.8bn Grand Ethiopian Renaissance Dam (GERDP), which is set to become the largest on the continent. The ambitious reservoir has been deemed controversial by other nations, who view the mega-dam as a violation of historical water rights within the region.
The effects of lockdown and the lack of garden space for some has led to the prediction that there will be a surge in demand of people seeking homes with gardens, but what are the wider reaching consequences of this?
Small businesses are struggling with registering or protecting their already registered trademarks. What consequence does this bear for the trademarks of small businesses and what needs to be done in order to minimise the blow of the situation?
Rishi Sunak has been advised to set up a commission to explore the option of a four-day working week for the UK, which could help to kick-start the economy after the COVID-19 crisis.
In a move to put the UK at the forefront of the space technology, Boris Johnson pledges hundreds of millions of pounds to invest in the collapsed satellite OneWeb.
Couples who seek divorce will no longer be forced to attribute blame, the new law will allow one spouse - or the couple jointly to make a statement of irretrievable breakdown as the main reason for seeking a divorce.
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Last week, Spain’s government injected €3.7 billion into reviving its ailing automobile industry. This followed an €8 billion pledge made by French President Emmanuel Macron to invest in green subsidies and research in hydrogen-powered vehicles and driverless cars.
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WhatsApp has launched the free payment platform in Brazil, indicating the integration of payment services and social media. However, this new service has been suspended by the Brazilian regulator within one week.
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The European Space Agency has confirmed that the world's First Space Debris Removal is expected to launch by 2025. The mission is being undertaken by ClearSpace, a startup-led commercial consortium to service orbital tourism, including Debris Removal.
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In the wake of the coronavirus pandemic, oil companies around the world have been buffeted by decreased demand and mounting debt. As OPEC forecasts a 6.4 million barrel per day downtick in the global demand for oil, the route out of the crisis for oil producers appears to be a treacherous one.
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Sri Lanka has reclaimed two square kilometres of land from the Indian Ocean as it aims to transform its Colombo Port City to one of South Asia’s most formidable financial new centres.
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Gazprom have stated that they will sue Germany over the decision not to exempt their gas pipeline from EU competition standards under the EU Third Energy Package. The EU package prohibits energy monopolies and the supplier of gas from also owning the pipeline. This is intended to improve the functioning of the internal energy market and resolve certain structural problems.
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In 2016 two lawsuits were filed against singer/songwriter Ed Sheeran claiming copyright infringement on Marvin Gaye’s “Let’s Get It On” by Ed Townsend’s heirs (co-writer), and a company called Structured Asset Sale who hold shares in the song’s copyright. Both claimed Sheeran lifted a number of musical elements from their song and placed them in his 2014 release “Thinking Out Loud”.
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The Commercial Court upholds order that enforces an arbitration award against public policy challenge under s.103(3) Arbitration Act 1996 in Alexander Brothers Ltd v Alstom Transport SA.
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SpaceX is the first private company to launch humans into orbit. Bob Behnken and Doug Hurley were the first to fly in the SpaceX Dragon Capsule on top of the Company's Falcon 9 rocket. The delayed launch on May 30th at 3.22 pm has provided the country a 'morale boost' since the past few months of unrest, the financial times reported.
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On 4th June, the Judge who sentenced Bernie Madoff to 150 years behind the bar, rejected the infamous fraudster’s request to be released early from prison.
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Lufthansa has accepted the €9billion bailout deal, as the latest EU’s approval on State aid after those to major European airlines such as Air France and SAS Scandinavian. Meanwhile, Ryanair CEO O'Leary has filed complaints to the EU about these discriminatory government support against competition rules.
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KPMG, one of the Big 4 accounting firms has been facing heat during the past few weeks over allegations of being negligent on the Carillion group’s accounts. The claim has been brought forward by liquidators working for the United Kingdoms (“UK”) Government, making this is the first time that such a claim has been made in this country.
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National law firm Slater and Gordon have decided to close its London office to the remote working norm that is developing around the pandemic.
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China has announced to the World that it would impose a national security law on Hong Kong. From the outset, this legislation is a threat to Hong Kong's liberties. At LawMiracle, we believe that such forceful implementation will affect the territory's attractiveness as a business and economic powerhouse.
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The cash flow of SME’S is frequently depleting due to disruptions in supply chains and sales while managing fixed recurring costs. At LawMiracle, we believe the use of digital complementary currency (CC) seems likely to be one of the few viable ways the SME’s can offset the impact of COVID-19.
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As the COVID-19 pandemic wreaks havoc on the global economy, public debt in emerging markets has surged to levels not seen in the last 50 years. As a result, the developing world is facing a wave of government bankruptcies.
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A US apparel retailer, ‘Untuckit’ has begun evaluating its stores and leases with landlords as the economy stumbles from the coronavirus pandemic.
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The economic activity in the United Kingdom and all over the world has declined drastically amid the global health emergency caused by coronavirus. Andrew Bailey, the Bank of England (BOE) governor, has stated that there would be a V-shaped recovery of the economy as Britain would bounce back faster than from the 2008 global financial crisis.
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The Germany-based private hospital chain Fresenius Group has been the latest victim of ransomware attack. The International Criminal Police Organization (“Interpol”) has issued a global alert regarding the new trend of ransomware attacks targeting at healthcare organisations.
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The coronavirus pandemic has knocked the Brexit negotiations. However, Michael Gove (Cabinet Office minister), told MPs that the business turmoil caused by coronavirus would not cause the government to seek an extension to Britain’s post-Brexit transition period.
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“British fishing grounds are first and foremost for British boats. ”A flag-waving statement made by Britain who is holding the submission of detailed proposals to fishing rights to Brussels.
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The COVID-19 outbreak is affecting 210 countries and territories around the world and two international conveyances. The pandemic has resulted in a global economic shock as the world’s largest economies are divided by trade disputes. There has been a dramatic fall in global stock prices and bond yields. The disruption in the economy is likely to result in a recession, which will potentially result in a currency war between the countries.
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There is a second wave of desert locusts arriving in East Africa, and this may cause significant challenges in completing vital infrastructure in these African regimes.
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Major Airlines have called for a dramatic scaling back of operations. It is stated that by the end of May 2020, most airlines will become bankrupt.
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The EU had published guidelines in April 2019 on Ethical AI.
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The clothing and homeware retailer, Cath Kidston has filed a notice of intention to appoint an administrator on 3 April 2020. As retailers have been temporarily closed amid the COVID-19 pandemic, more companies may follow suit.
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As of 17th April 2020, nearly 210 countries in the world have reported the cases of Coronavirus.
What is happening
The decline of the retail industry is perhaps best illustrated through the fact that one in ten town centre stores are now closed across the UK. From November to December 2019, the sector saw a 0.9% fall in sales. This decline was partly driven by online sales rising by 2.6% in the same period[1]. The modern ease of connecting goods or services to clients has led to the decline of retail stores.
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An ‘Oil Price War.’ Russia and Saudi Arabia are vying to reach a new age of global dominance by wining the oil race. However, such competition has led to socio-economic breaches, which far outweigh the benefit of winning this race.
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The accelerated growth of new business patterns, the popularisation of the internet in rural areas and a 71.6% growth in mobile internet traffic in 2019 are just a few examples that demonstrate China’s capability in excelling in the digital markets.[1] Thus, paving way for Data gradually becoming the driving engine in Chinese industries, producing pricing algorithms that can harm consumer welfare.
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A troubled region. Hong Kong was once the mighty financial centre that had a strong presence within the G20 market. It is now facing protest and coronavirus – problems that have significantly impacted its economy.
Railway strikes in the UK have halted services throughout July and Augst 2022.