British satellite giant Inmarsat gets green light for $3.4bn takeover October 29, 2019 The government has given the green light for a $3.4bn (£2.6bn) private equity buyout of British satellite giant Inmarsat. Read more: Satellite firm Inmarsat ditches dividend ahead of $3.4bn private equity takeover Culture secretary Nicky Morgan today said she has waved through the merger after accepting a series of remedies put forward by Inmarsat and [...]
CMA fines concrete cartel £36m for pushing up prices for seven years October 23, 2019 A concrete cartel must pay a £36m fine for breaking competition law for almost seven years. The Competition and Markets Authority (CMA) has ordered three firms to cough up after fixing prices between July 2006 to March 2013. Read more: Audit watchdog calls on firms to improve reporting on climate change They also shared the [...]
Finance chief becomes latest executive to leave Deliveroo November 28, 2019 Deliveroo’s chief financial officer has become the latest executive to leave the fast-growing food delivery company. Raif Jacobs, who joined Deliveroo in 2018, left the company in early October, according to a spokesperson. Read more: Deliveroo losses deepen in expansion drive Deliveroo has been hit by a string of executive departures this year following an [...]
What a new world order might mean for the global economy July 18, 2022 Russia’s invasion of Ukraine has opened fault lines between nations which will affect trade relations and investment for years to come. The war in Ukraine is already having a significant effect on inflation and activity in the world economy as commodity prices have soared and supply chains have been disrupted. Inflation in the G7 was [...]
“DO sweat the small stuff”: how ESG missteps impact future performance July 21, 2021 We’ve written extensively on our concept of “corporate karma” – the idea that what goes around, comes around with regard to how companies treat their stakeholders. Since the start of the pandemic, we’ve written about our belief that a new social contract is emerging, particularly in relation to how employers treat their employees, and we’ve shown how it’s [...]
PayPal ditches late fees for buy now pay later purchases August 18, 2021 PayPal will stop charging late fees when customers miss payments on buy now, pay later (BNPL) purchases worldwide, in an effort to attract customers amid booming market competition. As of October 1, purchases from customers in the US, UK and France will no longer be subject to late fees, while the company’s BNPL services in [...]
City watchdog fires warning shot at insurance industry over lack of preparedness for fresh regime August 25, 2021 The UK’s City watchdog has fired a warning shot at the insurance industry by urging firms to rapidly improve their standards to ensure they comply with a fresh regime that comes into effect in just six weeks. According to a new report published by the Financial Conduct Authority today, insurance firms are not ready for [...]
CMA clears $4.3bn Roche-Spark deal as US drags feet December 16, 2019 Swiss pharmaceuticals giant Roche today won UK regulatory approval for its $4.3bn merger with gene therapy firm Spark Therapeutics. The Competition and Markets Authority (CMA) unconditionally cleared the tie-up in the latest milestone in Roche’s $114.5 per share offer. Read more: Roche faces fresh delay in $4.3bn Spark merger The deal had faced intense scrutiny [...]
Facebook’s antitrust victory could be the inspiration Joe Biden needs to serve Big Tech a fatal blow July 2, 2021 When Charles Dickens’s Mr Bumble is confronted with the assumption that his overbearing wife “acts under his direction,” he responds with an argument for the ages: “If the law supposes that… the law is an ass.” Though Bumble’s argument might hold little water in a court of law, it isn’t an altogether bad one. It [...]
Watchdog pauses investigation into First Group’s West Coast Rail franchise November 15, 2019 The UK’s competition watchdog has paused its investigation into the decision to award the West Coast Rail franchise to First Group after the company offered to make changes to the deal. The Competition and Markets Authority (CMA) said last week it would escalate its probe into First Group’s joint venture with Trenitalia on the route unless [...]