September 2011: Apple are successful in their lawsuit
against the Samsung Galaxy tab. At a hearing in Dusseldorf, the judge ordered
the South Korean company to stop selling the tablet due to it being too similar
in its design to its counterpart the IPad 2. The verdict came as a major
success for Apple as they seek to rein in the growth of Google’s android phones
and maintain their dominance in the market.
October 2011: On the 6th October, Mervyn King, head
of the Bank of England announces that it will inject a further £75billion into
the economy. They did this through quantative easing, which is where Central
banks increase the supply of money by printing more. On the same day the Bank
also announced that they would hold interest rates at a record low of 0.5% to
try and keep inflation back on track.
November 2011: In an attempt to create ‘a powerful new
presence on the high street’ in the words of Chancellor George Osborne,
Northern rock was sold by the Government to Virgin money for £747million. Northern
Rock Plc has already been rebranded as Virgin money and a three year compulsory
job cut ban has already been instated.
December 2011: UK unemployment continued to rise in 2011
with it peaking at 2.64million by the end of the year. This is the highest
level in the UK since 1994 and is only expected to rise even further heading
into the new year.
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