Keeping up with the news can be tricky. Even the most eagle-eyed observer can miss a vital news story. We think being up-to-date on economic developments is key to the success of your startup.
Every Wednesday we provide the top 10 key bits of business news from the past week.
Lloyds to buy MBNA credit card firm
Lloyds is making the UK’s first bank acquisition since the 2008 financial crisis. It is purchasing MBNA credit card firm for £1.9bn from the Bank of America.
If the UK leave the single market, can Scotland stay in?
Sturgeon believes that it makes no economic sense to leave the single market. In the wake of Brexit, there may be a possibility that Scotland can stay in if the rest of the UK leave. However, the UK government warn that this is unrealistic.
Obama bans oil drilling in the Arctic
Obama has permanently banned offshore drilling in the Atlantic and Arctic ocean. Reasons include native cultural needs, wildlife and stopping oil spills. Canada has made a similar move, however, they will review their statement in 5 years whereas the USA cannot backtrack from theirs.
Uber self-driving cars face set-backs
Uber’s self-driving cars are facing set-backs as cyclist safety is brought into question. The cars are having difficulty with crossing bike lanes. This may have added to Uber’s losses in the first 9 months of the financial year despite its surge in revenue.
Fracking in North Yorkshire
Environmentalists lost a legal battle on the basis of climate change. Fracking will go ahead in North Yorkshire.
Google struggling with search results
Google has seen results in search queries such as “Did the Holocaust Happen?” and returning with top search results from hate sites insisting it didn’t. Google may not endorse these views, but they are making them easily accessible.
The Queen steps down as patron for national organisations
The Queen stepped down as patron to several national organisations such as Save the Children. The position will be handed to other members of the Royal Family.
A writer for Vanity Fair and Newsweek suffered an epileptic seizure when he received a tweet containing flashing images. The Tweet maliciously stated “You deserve a seizure for your posts” – and it worked. Writer, Kurt Eichenwald, has taken legal action.
UK drone registration proposal
There has been a proposal to register and take safety tests if you are going to buy a drone in the UK. There may also be laws developed regarding flying drones in a no-fly zone making the action a criminal offence.
Soot emissions detrimental to the Arctic
Reducing soot emissions could be a quick win in the climate change battle. Parts of the Arctic are stained black which makes ice absorb heat rather than reflect it which rapidly increasing ice melt. Finding a way of reducing this will be one of the fastest ways of slowing down the ice melt.