The Competition and Markets Authority wants to review O2 merger with three October 2, 2015 The UK's competition regulator has asked the European Commission for a review an upcoming deal to create one of the UK's biggest mobile operator to be referred to it. The Competition and Markets Authority (CMA) said that the proposed deal between Hutchinson's Three and Telefonica's O2 threatens to significantly affect competition in the UK mobile markets. This is because a successful [...]
It’s time the UK competition watchdog showed its teeth and cracked down on free banking December 10, 2015 From small challengers and fintech upstarts to larger disruptors such as Virgin Money, the world of banking is slowly starting to evolve with the times. The industry is ripe and ready for disruption and I want to see UK banking opened up to the full force of true competition. The UK’s competition watchdog, the Competition [...]
Industry groups split over new report from CMA on retail banking sector October 22, 2015 Multiple industry groups have hit out at the Competition and Markets Authority (CMA)’s provisional recommendations for the retail banking sector, saying “more needs to be done”. British Chambers of Commerce (BCC) director general John Longworth said businesses will be “disappointed” with the CMA’s proposals, accusing the competition watchdog of “effectively endorsing a status quo that [...]
Challengers say CMA retail banks review does not go far enough October 22, 2015 Bosses at Britain’s smaller challenger banks are questioning the Competition and Markets Authority (CMA), saying that watchdog’s latest report “does not go anywhere near far enough” in boosting competitiveness in the retail banking sector. TSB chief executive Paul Pester said the CMA’s provisional findings, first published this morning, were a “solid first start” but there [...]
One year after Amber Rudd challenged the Big Six energy providers over pricing, there is still more to do to get a better deal for energy consumers May 31, 2016 One year ago, energy secretary Amber Rudd wrote to the Big Six to demand why hard-pressed consumers weren’t seeing bigger reductions in their gas and electricity bills. Fresh to her role in charge of the department for energy and climate change, she challenged suppliers to explain why they had failed to pass on significant wholesale [...]
Digital challenger bank Mondo just got its banking licence August 11, 2016 Another new challenger bank has been given the green light by the financial regulator in an attempt to give the big banks a run for their money. Digital challenger Mondo, a smartphone-only app, has been granted a banking licence which gives it free-reign to offer customers the full range of services offered by the traditional high street banks – although it [...]
Vodafone chief exec Vittorio Colao clashes with BT over “re-monopolisation” of telecoms market November 10, 2015 Vodafone’s chief exec Vittorio Colao has gone head to head with BT, lashing out at the upcoming BT-EE merger, which he attacks as the “re-monopolisation” of the telecoms market. “We see attempts to re-monopolise European markets, and that isn’t good,” said Colao. His attack follows the by the Competition and Markets Authority's (CMA) provisional approval of the £12.5bn [...]
London taxi drivers and Uber battling to win support with just 20 days left for TfL consultation December 3, 2015 Taxi drivers and Uber are gearing up for the final stretch in a race for support ahead of a crunch consultation that will decide the newcomer’s fate in the capital. Transport for London’s (TfL) consultation on whether to bring in further rules and regulations has just 20 days to run. Uber was given a boost [...]
CMA: UK banks must cap overdraft fees, adopt better technology to make switching easier May 17, 2016 Banks will have a maximum monthly charge they can impose on customers for using unarranged overdrafts, and be forced to give greater warnings to people who are about to go into the red to give them time to avoid charges, under new proposals put forward today. The Competition and Markets Authority, which has been carrying [...]
Competition and Markets Authority rejects calls to break up big banks in retail banking review October 22, 2015 The competition watchdog has ruled out breaking up Britain’s biggest banks and defended so-called free banking practices. The Competition and Markets Authority (CMA) published the preliminary results of its 18-month investigation into the retail banking sector this morning. The watchdog launched the investigation over concerns the “Big Four” banks – Lloyds, RBS, HSBC and Barclays [...]