European Market Open: UK retail sales down but consumer confidence growing
Joshua Warner February 19, 2021 7:23 AM
European markets are expected to open largely lower today as investors prepare for PMI data this morning, following UK consumer confidence and retail sales figures released this morning. Share:
G7 leaders to hold a virtual meeting today to discuss vaccines, the global economic recovery and the challenges posed by China.
UK consumer confidence has risen to its highest level since the pandemic began, while retail sales plunged in January after the country re-entered lockdown after the holiday season.
Facebook continues to draw criticism for its news blackout in Australia, while Uber is waiting for the UK Supreme Court to make a landmark ruling on the gig economy today.
By ITV News Multimedia Producer Kavita Patel
But lawyers have said the ruling could leave Uber facing a hefty compensation bill, and have wider consequences for the gig economy.
The gig economy, where people tend to work for more than one company as a contractor on a job-by-job basis, has faced fierce criticism from unions who say it is exploitative despite businesses citing flexibility as an advantage.
There is likely to be a knock-on effect for other companies within the gig economy, an economy thought to provide work for some five million people.
How could Uber s Supreme Court ruling affect the gig economy?
The decision classifies some Uber drivers as "workers" instead of self-employed "partners." The ruling means that more drivers can claim rights from the company.
Uber drivers in Britain should be classed as “workers" and not self-employed, UK Supreme Court rules in decision that could have major ramifications for rideshare company.
LONDON, Feb. 19, 2021 /PRNewswire/ Following this morning's UK Supreme Court ruling that Uber drivers are workers, not self-employed contractors, global union federation representing 20 million