Attempt to revamp retail banking was “feeble”, Treasury committee hears October 18, 2016 Recent efforts to improve banking for customers have been weak, the man at the helm of a leading consumer interest body has said today. Speaking in front of the Treasury Select Committee today, Peter Vicary-Smith, chief executive of Which?, slammed the Competition and Markets Authority's (CMA) recent report into the retail banking sector as "feeble", remarking it [...]
Competition and Markets Authority launches probe into online betting companies’ complex small print October 21, 2016 Online gambling firms are facing a crackdown from the UK's consumer rights watchdog over fears they may be "conning" their customers with opaque and unfair terms and conditions. The Competition and Markets Authority (CMA) has today launched an investigation into the £4bn a year industry after complaints were raised by the official regulatory body, the Gambling [...]
Ladbrokes and Gala Coral sell 359 shops as deal nears completion October 17, 2016 Ladbrokes and Gala Coral are selling 359 betting shops between them, in order to satisfy conditions set by the Competition and Markets Authority (CMA) ahead of their merger. The CMA ordered the bookmakers to sell up shops earlier this year, in order to maintain competition in the market when the two groups combine, in a [...]
CMA investigation into the big six energy companies: Energy price comparison sites March 11, 2016 Price comparison sites for energy are a good thing, right? They’re the reason that millions of customers have switched energy supplier. They’ve spent small fortunes promoting energy switching to help customers find cheap tariffs. They then help them switch, saving each customer hundreds of pounds in the process. If it’s anyone who’s going to reach [...]
CMA says BAA breakup shows how competition leads to benefits while adding further gains can be realised if runway capacity restraints can be lifted May 16, 2016 The breakup of BAA is an example of how competition can lead to benefits for business and personal customers, the Competition and Markets Authority (CMA) has said, while adding further gains can be realised if runway capacity restraints can be lifted. The CMA published an evaluation of the decision to break up BAA, which found a [...]
Punch Taverns takeover: Heineken and pub entrepreneur Alan McIntosh in bidding war December 15, 2016 Punch Taverns is in the midst of a takeover tussle between Heineken and Alan McIntosh, an entrepreneur who was one of the pub company’s founders. Shares in Punch soared as news of the two approaches emerged, ending the day nearly 38 per cent up at 177p. Yesterday morning, City A.M. revealed that McIntosh has tabled [...]
Now is the time for the government to intervene on energy prices and override the Big Six firms November 22, 2016 This winter it is imperative that something is done to fix our broken energy market. Seven out of 10 households are still on the highest priced deals, paying some £300 more than they should – and too many of these are the most vulnerable in our society. The Competition and Markets Authority investigation report, published [...]
Betfred and Stan James put their money on more than 300 shops from Ladbrokes-Gala Coral merger October 16, 2016 Betfred will scoop up 322 shops being sold as part of the Ladbrokes-Gala Coral merger for £55m, Gala Coral announced today. The gambling giants will sell off 359 high street branches in total if the bookies successfully merge, of which the remaining 37 will go to sports betting group Stan James for £500,000. In July, the [...]
CMA fines pharma companies including GSK £45m February 12, 2016 The Competition and Markets Authority has fined GlaxoSmithKline, Generics UK and companies formerly known as Alpharma £45m for conspiring to delay the entry of a generic drug between 2001 and 2004. GSK, which has been fined £37.6m, was found to have made payments and other value transfers of more than £50m to Generics UK and Alpharma, who [...]
Competition and Markets Authority (CMA) delays publication of retail banking review until August March 7, 2016 The Competition and Markets Authority (CMA) has confirmed plans to delay the publication of its long-awaited review into the retail banking market, saying today that the results of the probe will not be published until the end of the summer. In a statement this morning, the CMA put forward more recommendations to help customers understand [...]