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Commercial Awareness - Weekly Roundup

All the news you need to know from this past week and how they impact law firms.
Commercial Awareness - Weekly Roundup

Hi ZipLawyer! Here's all the news you need to know from this week and how they impact law firms.

Coming up:

  • 💸 Business: Interest rate decisions, Brexit, expensive coffee, JP Morgan's credit card deal
  • 🔋 Energy: EV market drama, copper rush, Rolls Royce's new deal
  • 🏠 Real Estate: Power-hungry land in demand, housing market prices rise
  • 🤖 Tech: TikTok's back in court, Microsoft teams up with Blackrock, Meta faces more EU fines
  • 🔍 Regulatory: Nippon Steel deal paused, Brazil fines X, Shein in trouble

Business

  • Time to cut? The Bank of England held interest rates at 5% with Andrew Bailey hinting rates may drop, but inflation fears keep everyone cautious. The Bank of Japan kept short-term rates at 0.25%, while the US Federal Reserve slashed rates for the first time in 4 years, dropping to 4.75%-5%—just in time to boost the economy before the 2024 election.
  • Brexit Hangover: Aston University research reveals UK trade with the EU is down, with exports 17% lower and imports dropping 23%. Brexit's bureaucratic hurdles are dragging sectors like agrifoods and textiles. Labour promises to ease some of the pain, but don’t hold your breath for a single-market comeback.
  • Coffee Prices Brewing Hotter Than Ever: Bad weather in Brazil and Vietnam has pushed arabica coffee prices to a 13-year high. With Brazil’s crops drying up and Vietnam’s hit by a typhoon, the future harvest is looking bleak. Your morning brew is getting pricier, with retailers already passing costs on to consumers.
  • JPMorgan Circling Apple’s Credit Card: Goldman Sachs may be looking to offload Apple’s credit card programme, and JPMorgan Chase is eyeing the prize. With $17bn in balances, the credit card is a major player, and CEO Jamie Dimon has Apple flagged as a growing competitor in finance. Talks are early, but watch this space!

How Does This Impact Law Firms?

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