Vince Cable warns of potential hiccup in Lloyds Bank shares sell-off April 20, 2015 A competition enquiry could upset Conservative party plans to sell billions of pounds of Lloyds Banking Group shares to the public by May 2016, Liberal Democrat business secretary Vince Cable said yesterday. The Competition and Markets Authority (CMA) is set to publish its final report on the personal current accounts and small business banking markets [...]
Poundland faces competition probe over 99p Stores tie-up April 9, 2015 POUNDLAND’S offer to buy rival 99p Stores for £55m is facing an in-depth investigation by the competition watchdog, amid concerns reduced competition will lead to fewer promotions and store closures. The Competition and Markets Authority (CMA) warned that it could launch a 24-week in-depth probe unless Poundland “offers acceptable undertakings to address the CMA’s competition [...]
Analysts warn that Ladbrokes – Gala Coral mega merger odds on for competition issues June 23, 2015 Analysts are warning that Ladbrokes' multi-million pound merger with Gala Coral could have to jump serious competition hurdles. The combined company would command 4000 retail shops – about 45 per cent of the UK market – and give the group much better odds in the online gaming space too. The retail position in [...]
TalkTalk moves to obstruct BT’s £12.5bn EE deal June 17, 2015 A fresh skirmish broke out between TalkTalk and BT yesterday, after BT published a consultancy report in support of its proposed £12.5bn takeover of EE. BT chief excecutive Gavin Patterson said the combination would create a “true UK digital champion”, while EE boss Olaf Swantee hit out at rivals who are trying to block the [...]
Colder weather boosts Centrica in first quarter April 27, 2015 UTILITIES group Centrica delivered a more positive update to the market yesterday, following a profit warning and dividend cut announced along with its 2014 results in February, and said trading continues in line with previous guidance. The company said colder-than-usual weather in the UK and across North America in the year to date had led [...]
Payday lenders like Wonga face new regulation as CMA proposes price comparison websites and clearer fees October 9, 2014 Payday lenders are facing a major shake-up after the competition watchdog laid out plans to curb the costs of loans for consumers. The Competition and Markets Authority (CMA) said lenders should make their products available on price comparison sites to increase competition among firms amid a number of proposals for reforming the payday loan market. [...]
Dairy Crest sale of milk business to Muller referred back to UK watchdog March 23, 2015 Dairy Crest Group said yesterday that it was still on track to sell its dairy operations after being referred back to the UK Competition and Markets Authority (CMA) yesterday by the European Commission for review. The company behind Cathedral City cheese and Frijj milkshakes is in the process of selling its loss-making liquid milk business [...]
Ryanair share price jumps as profit soars following new customer service programme May 26, 2015 Ryanair's share price soared this morning as it celebrated its 30th birthday with a 66 per cent increase in net profit for the year – beating analysts' expectations. The figures The low-cost carrier reported net profit of €867m (£614m) in the 12 months ended March 31 from €523m at the same period last year. Revenue rose more steadily [...]
MPs warn breaking up banks may be best for competition March 10, 2015 BREAKING up the banks is one of the remedies for a lack of competition in the market, MPs on the Treasury Select Committee (TSC) have suggested. “Millions of consumers and small businesses have been getting a poor deal for decades because of a lack of effective competition and genuine choice in banking,” the committee said [...]
Pork Farms and Kerry Foods’ merger cleared April 21, 2015 THE COMPETITION watchdog said yesterday it has provisionally cleared Pork Farms’ acquisition of rival Kerry Foods’ chilled savoury pastry business after threatening to carry out an in-depth probe over competition fears. Pork Farms, maker of scotch eggs and sausage rolls for supermarkets like Marks & Spencer, bought Kerry Foods’ chilled savoury pastry business last summer, [...]