Deloitte calls for audit market cap and ban on selling extra services to audit clients November 8, 2018 Two of the world’s biggest accountancy firms have backed a ban on UK auditors selling extra services to their audit clients, setting the stage for a huge shift in the embattled sector. Deloitte and KPMG – two members of audit’s Big Four – have backed the move, which would potentially put hundreds of millions in fee income [...]
MPs to launch select committee inquiry into Sainsbury’s Asda merger May 20, 2018 MPs are planning their own inquiry into the tie-up of Sainsbury’s and Asda, separate to the competition watchdog’s probe. The Environment, Farming and Rural Affairs (EFRA) committee is gearing up to investigate the deal due to concerns for the impact it could have on suppliers to the supermarkets, The Mail on Sunday reported. This comes [...]
Outrage-induced regulation will not fix the broken audit market October 12, 2018 The audit market is broken. Don’t take my word for it – ask Rachel Reeves, the Labour MP who chairs the BEIS select committee, or Liberal Democrat leader Vince Cable, or even the Conservative business secretary Greg Clark, who last month ordered an inquiry into competition in the sector. With such cross-party concerns, it should not [...]
TfL gives Indian ride-hailing app Ola the green light July 4, 2019 Transport for London has given Indian ride-hailing app Ola the green light to launch in the city. Ola said it has received a private hire vehicle licence and planning to launch around September. Read more: French ride-hailing app Kapten puts Uber in its sights “We are looking forward to building world-class mobility offerings for London [...]
Watchdog calls for clearer investor warnings in wake of Woodford saga September 30, 2019 The Financial Conduct Authority (FCA) will introduce tougher rules for funds that invest in hard-to-sell assets following the suspension of Neil Woodford’s flagship fund. In a policy statement published today, the financial regulator also said investors should be given better warnings about the risks they face if they want to be able to withdraw their [...]
5G fisticuffs: EE files complaint over Three’s ‘real’ network advert August 19, 2019 Mobile operator EE has fired the latest salvo in an escalating clash between telecoms firms, filing a complaint with the advertising watchdog over a campaign promoting Three’s 5G network. EE has raised concerns about newspaper and social media adverts that claimed Three’s network provided the only “real” 5G service. Under advertising rules, a brand must [...]
Shares fall in Google parent Alphabet as Justice Department probe looms June 3, 2019 Shares in Google parent Alphabet took a beating this afternoon after reports that the company is about to be hit with a competition investigation. The company tumbled more than six per cent as markets opened in New York, its biggest drop since 30 April when it showed low revenues in its financial results. Read more: [...]
Don’t let national security fears risk closing Britain for business October 26, 2018 The UK government’s National Security and Investment consultation, which closed last week, has an aim that is not just laudable, but essential. The government is seeking to protect vital national assets, whether emerging technology or critical infrastructure, from falling into the wrong hands – from organised crime groups to rogue states to certain major powers. [...]
Uber and rival Ola sniffing around London’s Addison Lee July 24, 2019 Uber and Indian ride-hailing firm Ola are mulling bids for London-based taxi firm Addison Lee, which could create a powerful force in one of the world’s biggest private transport markets. Read more: Uber rival Viavan wins three year license renewal from TfL The US giant and Ola are two of “a handful” of companies talking [...]
The ASA watchdog is regulating the Wild West of online marketing and advertising October 29, 2018 It goes without saying that the web has revolutionised the global economy. As a source of knowledge and information, as well as a marketplace for trade, it has created jobs, fuelled innovation, and accelerated productivity (well, it has when we’re not browsing Twitter or watching Netflix). The internet has also changed advertising. The digitisation of [...]