Here’s what analysts are saying about the Tesco-Booker merger January 27, 2017 Tesco's share price has jumped seven per cent at the open after announcing a £3.7bn merger with wholesaler Booker Group. Booker Group's share price jumped 14 per cent. Read more: French Connection boss signals two non-executive directors will step down Analysts are calling the merger between the two food giant a "game changer". However, the [...]
Johnson Service Group says laundering success is good news for Britain February 28, 2017 Johnson Service Group, the UK's largest rental workwear and laundry firm, today revealed bumper annual results. A 45 per cent growth in the firm's profits was good news for the UK, according to boss Chris Sander, who labelled the company a "barometer of Britain's financial health". Read more: In a spin: CMA suggests laundry services broke competition law The Aim-quoted outfit [...]
East Midlands Airport has been spared a £12.5m fine for fixing car park prices December 20, 2016 An airport has avoided a £12.5m fine for fixing car park charges, according to the Civil Aviation Authority (CAA). East Midlands International Airport (EMIA), owned by Manchester Airports Group (MAG), and Prestige Parking Limited broke competition law, but the airport was spared the fine after disclosing full details of the wrongdoing. An investigation by the [...]
Why unleashing competition would deliver lower fares and greater choice to rail passengers January 9, 2017 The UK’s rail passengers are suffering, and will no doubt continue to do so over the coming months. Union action is bringing the network to a standstill, with further strikes planned for this week. The level of sickness leave among train staff has also been mysteriously increasing, and has doubled compared to pre-strike levels, according [...]
A trio of challenger energy firms have come out in favour of a new price cap March 16, 2017 A trio of challengers to the Big Six energy firms have come out in favour of new pricing restrictions as parliament debates market reform. The House of Commons will spend six hours debating the energy market today, with a former Tory minister leading the calls for an intervention. Ex-cabinet office minister John Penrose is calling on [...]
Estate agent wars: Why OnTheMarket is here to stay, even after the CMA warning April 25, 2016 You may have read last week about the open letter from the Competition and Markets Authority (CMA) to estate agents to remind them about their obligations under competition law when choosing online property portals to advertise their properties. The CMA has been very clear in cautioning agents to act independently and not to collude. At OnTheMarket.com, we welcome [...]
Your overdraft could be about to become cuddlier after the FCA outlined new rules November 3, 2016 Your overdraft could be about to become a lot friendlier, after the Financial Conduct Authority (FCA) said it wants to improve competition in the market. This morning the FCA said it wants to improve transparency in the overdraft market by introducing a maximum monthly charge, which it hopes will increase customers' engagement with their "overdraft [...]
The influential Treasury Committee has launched a stinging attack on a probe into competition in retail banking November 2, 2016 An influential group of MPs has lashed out at a light-touch report into high street banking, days before the City watchdog publishes its verdict on the sector. Treasury Select Committee chair Andrew Tyrie said the failure of the Competition and Markets Authority to propose dramatic reform smacked of “complacency”, while Labour MP Rachel Reeves said the [...]
Tescooker? Everything you need to know about Tesco eating Booker January 27, 2017 The UK's largest supermarket, Tesco, announced this morning that it will merge with wholesaler and convenience store supplier Booker Group. Share pries for both companies flew, with Tesco finishing the day nine per cent higher, at 206.3p, while Booker rose 16 per cent to 212.3p – above Tesco's offer price. Here's everything you need to know about the [...]
Newspaper industry calls for “urgent investigation” into Facebook, Google and fake news March 9, 2017 The newspaper industry has today cranked up the pressure of Google and Facebook, calling for an “urgent investigation” into their impact on the media landscape and fake news. The News Media Association (NMA) wants broadcast regulator Ofcom and/ or the Competition and Markets Authority (CMA) to examine the “Google-Facebook duopoly”. In its submission to a [...]