Private health market will not get treatment September 5, 2016 London's private healthcare market will not be subjected to further remedies, the Competition and Markets Authority (CMA) has decided. The Competition Commission, a predecessor to the CMA, started a market investigation into private healthcare in April 2012, which reported in April 2014 and required HCA International Limited, the largest private hospital operator in central London, [...]
Andrew Tyrie blasts banks as they come clean on overdraft fees September 6, 2016 Influential Tory backbencher Andrew Tyrie has blasted UK banks for their bewildering array of overdraft fees and charges and called for customers to be given more information about their accounts. Tyrie, who chairs the Treasury Select Committee (TSC), also criticised recent proposals from the Competition and Markets Authority (CMA) to encourage customers to switch bank accounts. [...]
Intercontinental Exchange questions UK competition watchdog concerns over Trayport takeover August 18, 2016 The owner of the New York Stock Exchange has questioned the justification of the British competition authority’s concerns over its Trayport takeover. The Competition and Markets Authority (CMA) said the Intercontinental Exchange (ICE) should consider reversing its $650m (£495m) deal for Trayport, a commodities trading software operation. Read more: US rival pulled London Stock Exchange [...]
A flood of new energy tariffs risks “bamboozling” customers now Ofgem has removed deal restrictions, First Utility warns December 5, 2016 Energy customers risk being “bamboozled” by a flood of new deals following the scrapping of Ofgem’s four tariff rule, challenger supplier First Utility has warned. Customers could be faced with choosing between a whopping 1,364 energy deals in 2017 from 44 suppliers, the company has estimated based on previous averages. Five years ago, the average [...]
Competition and Markets Authority investigation into the UK’s big six energy companies: CMA wants energy price cap for pre-payment meters March 10, 2016 Britain's competition watchdog wants to introduce temporary price controls for four million households which are on pre-payment meters, as it laid out sweeping reforms aimed at injecting more competition into Britain's energy market. This would cut bills by a total of £300m a year and will remain in place until 2020, the Competition and Markets Authority (CMA) [...]
Financial Conduct Authority approves Tullett Prebon takeover of Icap’s voice broking business November 15, 2016 The Financial Conduct Authority (FCA) has given its nod of approval to Tullett Prebon’s acquisition of Icap’s voice broking and information business. The deal has already received backing from the Competition and Markets Authority (CMA) and Tullett expects to complete the transaction this year. Read more: Broker Icap makes new chief exec appointment after deal [...]
Autumn Statement 2016: Should Hammond try his luck at some radical tax simplification? November 2, 2016 Scrap corporation tax. Scrap council tax. Scrap capital gains tax. And inheritance tax too. And business rates, the TV licence fee, the apprenticeship levy, all stamp duties, alcohol duties, tobacco duties – get rid of them all! These are the somewhat provocative proposals from a new report covered on today’s front page of City A.M. [...]
Competition watchdog threatens Intercontinental Exchange’s Trayport takeover August 16, 2016 The Competition watchdog has thrown into doubt Intercontinental Exchange's takeover of commodities trading software company Trayport. The Competition and Markets Authority said today that the $650m deal could result in less competition for wholesale European utilities trades. It issued a list of possible remedies, which includes a forced sale. The CMA is worried about higher fees for [...]
Energy market regulator Ofgem responds to Competition and Markets Authority’s recommendations August 3, 2016 Ofgem, the gas and electricity markets regulator, has set out its plans to improve competition in the sector, which includes creating a database of customer details to ensure consumers are being offered the best energy deals – and putting a price cap on the amount paid by households using a prepaid meter. The Competition and [...]
Mobile lender Atom in £100m funding drive September 19, 2016 Mobile money lender Atom Bank is gearing up for a fresh £100m funding drive. The app-based bank is preparing to approach backers to shore up its balance sheet against early-stage losses and regulatory capital requirements. Atom began accepting deposits earlier this year and is planning to start mortgage lending in coming months. Read more: How nine challenger banks [...]