Week ahead: Vodafone, BT and Burberry earnings in focus as crucial US inflation reading looms May 12, 2024 Earnings from Vodafone, BT and Burberry take centre stage in the City's corporate diary this week, alongside a crucial inflation reading across the pond that could put the brakes on the FTSE 100’s record rally.
Right-wing think tank claims digital markets bill is a ‘recipe for disaster’ September 19, 2023 Proposed legislation to regulate digital markets is a “recipe for disaster” and risks spooking tech companies by handing Britain’s competition watchdog unbridled power, according to a new paper by the Institute of Economic Affairs (IEA). The right-wing think tank has today published a paper which warns the Digital Markets, Competition and Consumers bill (DMCC) will [...]
CMA bosses would have charged Asda more for failing to comply with fuel pricing probe July 19, 2023 The co-owner of Asda, Mohsin Issa, has said he thought it was ‘unfair’ for competition watchdog bosses to say they would have charged the grocer more if they could for failing to provide relevant info for its probe into fuel pricing. In June, Asda was fined £60,000 by competition watchdog for failing to co-operate properly [...]
CMA drops concerns over Microsoft takeover of Call of Duty developer Activision Blizzard… for now March 24, 2023 The UK competition watchdog has provisionally dropped concerns that Microsoft’s proposed takeover of Call Of Duty developer Activision Blizzard would damage the UK console gaming market. The Competition and Markets Authority (CMA) last month warned the 68.7 billion dollar (£56.7 billion) deal could result in higher prices, fewer choices or less innovation for UK gamers. [...]
Vodafone and Three hit back at union concerns deal will kill competition October 17, 2023 Vodafone and Three have hit back at a warning from trade union Unite that their telco tie-up will stifle competition, threaten national security and raise customer bills by up to £300 a year.
CMA: US chipmaker Broadcom’s £50bn VMware deal could hurt server competition March 22, 2023 Britain’s competition regulator said U.S. chipmaker Broadcom’s acquisition of VMware VMW.N could make servers more expensive, and it would refer the $61 billion deal (£49bn) to an in-depth inquiry unless its concerns were addressed. Broadcom AVGO.O agreed to buy the cloud computing and virtualisation company last year to diversify into enterprise software. Britain’s Competition and [...]
UK government to prepare regulators for AI as it eyes ‘agile’ approach February 6, 2024 The British government will spend more than £100m building artificial intelligence (AI) research hubs and preparing regulators.
FTSE 100 close: London markets fall deeply into the red after Bailey’s hawkish comments on interest rates October 13, 2023 The FTSE 100 managed to eke out some gains thanks to its oil giants, who benefited from rising oil prices.
HSBC, Nationwide and TSB failed to send transaction histories to some customers July 25, 2023 HSBC, Nationwide Building Society and TSB collectively let down a total of nearly 170,000 customers by failing to provide payment transaction histories, according to the competition watchdog. The Competition and Markets Authority (CMA), which has written to the two banks and building society, said the failures are “not acceptable”. The providers breached part five of [...]
UK competition watchdog clears £6bn Avast takeover by NortonLifeLock September 2, 2022 The £6bn acquisition of Avast by NortonLifeLock has been officially cleared by the UK’s competition watchdog. The Competition and Markets Authority had launched an investigated into the merger in March, with concerns the combined cyber security powerhouse would squash competition in the sector. The watchdog said that while it found a “realistic prospect” of weaking [...]