The CMA has aired its dirty laundry after it suggests collusion between two laundry services January 20, 2017 The Competition and Markets Authority (CMA) has provisionally concluded two NHS suppliers of cleanroom laundry services have created a market-sharing agreement, breaking competition law. The CMA found between May 2012 to February 2016, the suppliers, Micronclean Limited and Berendsen Cleanroom Services Limited, had an arrangement under which they divided up customers by geographical territory, as well as [...]
Heineken’s £403m Punch Taverns takeover gets the green light from competition watchdog after offering to sell dozens of Punch Taverns pubs August 18, 2017 The competition watchdog said today it had accepted proposals by Heineken to resolve concerns over its proposed £403m takeover of Punch Taverns by selling dozens of pubs. The Competition and Markets Authority (CMA) had opened an investigation into the takeover and found 33 local areas where the deal could reduce competition. So in June, Heineken [...]
Digital Innovators: three life changing companies leading the way in the technology sector May 8, 2018 The way society lives tomorrow is changing today, as companies find new and exciting ways to apply technology to the world’s problems. Consumers can now check their bank account, book a holiday, and buy new furniture using their smartphone during the morning commute. With voice-powered assistants at home, and AI-powered, data-driven tools at work, the [...]
Admiral Taverns snaps up Heineken’s excess pubs following Punch Taverns acquisition November 1, 2017 Admiral Taverns today announced it has reached an agreement to take on some of the pubs shed by Heineken following its acquisition of Punch Taverns. Admiral, which was itself bought by new owners in September, has formed a partnership with Scottish hospitality group G1 to acquire a portfolio of 29 pubs. Due to the ongoing [...]
Last Week in the City: Markets Trumped by trade fears June 22, 2018 The week was dominated by trade war fears as Donald Trump said he would slap further tariffs on Chinese goods should there be any retaliatory measures. Despite this, Nasdaq hit a record high, although the Dow Jones Industrial Average erased all its gains in 2018 so far. The FTSE 100 fell 0.5% over the week [...]
Esure and Direct Line founder Sir Peter Wood to flog chunk of Gocompare stock to pursue property investment interests October 18, 2017 Sir Peter Wood, the insurance tycoon founder of Direct Line and Esure, today revealed plans to dump a multi-million slug of Gocompare shares on the market in order to fund his London and US property interests. In an after-market announcement, Wood said he will place 21.3m shares on the market. With Gocompare’s stock trading at [...]
Supermarket wars: Nisa in talks with Co-op after Sainsbury’s exclusivity period ends August 14, 2017 Convenience chain Nisa is in talks with the Co-op after a period of exclusivity regarding a potential takeover offer from Sainsbury’s came to an end. Sainsbury’s has yet to make a formal offer, which would need to be approved by Nisa’s shopkeeper members. However City A.M. understands that Sainsbury’s is waiting for the result of [...]
How nine challenger banks reacted to the CMA’s report on current accounts August 9, 2016 Nine challenger banks including TSB and Metro Bank have slammed the findings of the UK's competition watchdog in its investigation into the retail banking sector, arguing the review has missed “a golden opportunity”. The Competition and Markets Authority (CMA) report, published this morning, called on banks to implement an “open banking” standard by 2018, allowing customers to monitor and access all [...]
CMA launches consultation to pave way for prepayment meter price cap October 11, 2016 Britain's competition watchdog today started consulting on a draft order to show how its promised price caps for pre-payment energy meters can be implemented. The price cap for around four million households on prepayment meters was one of the 30 measures put forward by the Competition and Markets Authority as a result of its two-year investigation into the Big Six energy suppliers. [...]
Rupert Murdoch denies a “retreat” as Disney confirms buyout of 21st Century Fox assets for $52bn December 14, 2017 Rupert Murdoch denied today that his family was “retreating” as his media empire was broken up by a $52bn (£39bn) sale of 21st Century Fox assets to Disney. “I know a lot of you are wondering, why have the Murdochs come to such a momentous decision?” the recently married 86-year-old said on a call with [...]