Legal Scene Digest: Release 5
- The Legal Scene
- May 27, 2019
- 1 min read
Fiat Chrysler proposed merger with Renault
Fiat Chrysler and Renault will own half of the merged entity.
The merger aims to save development costs on technology such as self-driving cars.
New entrants like Tesla and the imposition of stricter emissions standards put pressure on the car industry. So, cost savings will are crucial for both companies.
Topshop is closing all its U.S stores
Arcadia Group, the owner of Topshop Topman, has announced that it will be closing all of its 11 stores in the U.S.
It is unknown when the stores will close but the brand has said that it will continue to sell online.
This decision reflects the changing retail environment and the shift towards online shopping.
British Steel : Brexit will cause more damage
Gareth Stace, director-general of UK Steel has stated that Brexit’s uncertainty has contributed to British Steel's problems.
The Company has entered into insolvency and more than 4,000 jobs are at risk.
If a buyer does not come forward, British Steel could be broken up or the sale could be abandoned.
There are urges for the government to temporary nationalise it until a buyer comes forward.
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