Sky Business News Recent Headlines
What are the latest business news headlines with Sky business news? Here is the gist of five recent events and announcements to hit the corporate world.
First, Sky Business News reports that Tata steel of India is taking a billion dollars from value from its European operations, about half of which are located in the UK. They have placed blame on the European economy, as steel demand has decreased since the beginning of the financial crisis. Many are worried about the future of UK steel manufacturing employment.
Second, housing demand is still rising and has reached its highest level in the past three years. Much of this change is linked to the FLS, or Funding for Lending Scheme, which has loosened borrowing for households by giving cheap finance access to lenders. Some people are, of course, worried that this will lead to higher prices, but the assumption here is that rising prices will encourage greater production as well.
Third, Sky Business News announces that France is considering taxing smartphones in order to raise money for state funding of the arts. The tax increase could be as much as four percent, and the state says that companies should be contributing part of their sales revenue to help creators. France sees it as an extention of their exception culturalle policy, in which items of cultural value are protected from market forces.
Fourth, in response to international outcry after the recent building collapse in Bangladesh that caused over a thousand worker deaths, Sky Business News says that Primark and H and M, two of the largest operational international clothes retailers, have signed an accord that is supposed to protect manufacturing workers. Several other prominent signatories include Tommy Hilfiger, Zara, and more. Hopefully, the agreement will improve training, strengthen workers rights, and act as a positive move for the improvement of over seas conditions.
Fifth, Sky Business news notes that as a major shakedown to US retailer Sketchers, the company has been ordered to pay out forty million to over 500 thousand customers so that they can claim back the price of their toning shoes. The shoes went to court after questions arose about claims Sketchers made about the shoes being helpful to weightloss, cardiovasculer health, and strengthening muscles. The government found these health claims both unsubstantiated and false.