David Cameron backs transitional price cap as part of energy market shake-up after CMA report July 7, 2015 David Cameron said yesterday that he supported plans for a “transitional” energy price cap. The Competition and Markets Authority (CMA) has called for changes to be made to companies’ standard variable, or default, tariff – the tariff that energy customers pay if they have not made an “active decision” to change. The CMA said [...]
Pressure mounts on legal sector to make services easier for customers to understand as another consumer body joins the debate February 2, 2016 Legal sector regulators are facing further calls to make the marketplace easier for consumers to understand, as yet another consumer-focused body has voiced concerns. A report out today by the Legal Services Consumer Panel urges regulators to do more to make sure consumers can easily access useful information to help them make informed decisions. The study [...]
The EU’s block of the O2-Three merger proves why we need to vote remain May 11, 2016 This morning, the European Competition Commission blocked the proposed merger of O2 and Three mobile. The £10.5bn deal, which would have created the UK’s largest mobile phone operator, was blocked on the grounds that it would have reduced competition and meant less choice for consumers. While the ruling was made at European level, the merger would [...]
Profits slip but revenues rise, as Sportingbet owners GVC Holdings takes a punt on Bwin April 25, 2016 Shareholders dismissed falling profits at gambling giant GVC Holdings this morning – despite a 39 per cent slide in profits off the back of GVC's acquisition of Bwin. The figures Net gaming revenue – income on punters' wagers minus payouts – climbed by 10 per cent to €248m (£193m) in the year to the end of December. The total amount [...]
Ladbrokes Coral merger: The Competition and Markets Authority launches its investigation December 16, 2015 The Competition and Markets Authority (CMA) today announced it may carry out a 'fast track' investigation into the proposed merger between Ladbrokes and Coral. Today is the first day of the CMA's investigation to explore the effects on market competition if the two bookies merge as planned. The process normally takes 40 days, but the CMA said [...]
Why don’t more people switch banks? Because it costs nothing to do so February 3, 2016 Most of us don’t love our banks. We have all experienced the unanswered letter, the seemingly interminable waits on hold before being put through to someone who gives the impression of auditioning for the infamous “computer says no” television sketch. Yet we are surprisingly loyal to our current accounts. Figures from Bacs suggest that around [...]
Reactions to BT-EE merger: Telco rivals TalkTalk and Vodafone lash out after Competition and Markets Authority waves through £12.5bn merger deal January 15, 2016 Telco rivals have lashed out furiously, after the UK’s competition watchdog waved through BT and EE’s £12.5bn merger, which was given the final green light early this morning. The Competition and Markets Authority (CMA) said the takeover was unlikely to cause “significant harm to competition or the interests of consumers” as the UK mobile market is so [...]
Bye-bye Bogof? Supermarket deals days’ numbered as new research finds consumers spend £1,300 a year more when they take up buy-one, get-one-free offers February 11, 2016 British shoppers spend £1,300 more a year when they take up tantalising buy-one-get-one-free (bogof) deals – and could be soon waving goodbye to the whole concept. Research by the Money Advice Service has found that supermarket offers encourage consumers to spend 21 per cent more on average than they intended – £11.14 per shop – [...]
Co-op Bank kicks off search for new boss to replace Niall Booker, update expected with tomorrow’s results March 31, 2016 The troubled Co-op Bank has begun its search for a replacement for its outgoing chief executive Niall Booker, with top bankers at Barclays and Santander already approached for the role. Stephen Jones, who stepped down as Santander UK's chief financial officer several months ago, and at least one internal candidate are thought to have been shortlisted. [...]
Paddy Power Betfair merger: Betty Power gets the green light from the Competition and Markets Authority December 17, 2015 The merger between betting giants Paddy Power and Betfair, dubbed Betty Power, has been given the green light by the UK regulator. The Competition and Markets Authority launched an investigation into the deal in November and whether it would lessen competition in the market. The bookies have cleared the hurdle and the CMA has now ruled that the merger [...]