By DebbieH 23 Feb 2018 7 min read

In the news this week: KFC, Jamie Oliver, and Brexit

The chicken shortage at KFC stole many of the headlines this week as the fast-food chain was forced to temporarily close the majority of its stores. Jamie Oliver’s restaurants are facing permanent closure due to financial trouble and Mark Carney has told MPs that Brexit is making us poorer. Good news this week for Latham & Watkins who made history by hitting $3 billion in revenue and RBS has reported an annual profit for the first time in a decade.

KFC was forced to close most of its stores after a chicken shortage. On Sunday 646 of the 900 UK stores were closed. The problem was caused by a new delivery contract with DHL who have had a couple of “teething problems” getting the chicken to the outlets.

Latham & Watkins made history this week becoming the first law firm to hit $3 billion in revenue.

The Jamie Oliver Restaurant Group is facing tough times as two flagship Barbecoa restaurants in London have gone into administration. Jamie Oliver immediately bought the restaurant near St Paul’s Cathedral back under an arrangement which allowed the purchase of the business’ best assets before entering administration. This news comes after the announcement that 12 of Jamie’s Italian restaurants are being shut down.

Mark Carney, governor of the Bank of England has told MPs that Brexit has made us poorer. He predicted that real incomes will be 5% lower by the end of 2018 than the original forecasts made by the Bank. This is due largely to the uncertainty surrounding the move to leave the EU and a weaker pound. Carney also clashed with his chief economist, Andy Haldane, over the benefits of the weaker sterling.

RBS has reported its first profits in a decade. After reporting a £6.95 billion loss in 2016, the bank has reported a £752 million annual profit. There are still a few issues on the horizon for the Bank which could be facing a huge fine from the US Department of Justice over risky mortgages.