Competition watchdog warns travel firms over summer holiday refunds May 13, 2021 The UK’s competition watchdog has today warned package holiday firms that they will be in breach of the law if they do not give passengers refunds if holidays are cancelled this summer due to the pandemic. Last summer the Competition and Markets Authority (CMA) received thousands of complaints from frustrated holidaymakers who were unable to [...]
Going once, going twice: LiveAuctioneers sold to London’s ATG for $500m October 1, 2021 London-based Auction Technology Group (ATG) has snapped up the holding company of online auction business LiveAuctioneers for a dear $500m. The acquisition, for Platinum Parent, involves both cash and the issue of new shares after the Competition and Markets Authority (CMA) gave the deal the green light on Wednesday, The deal also features an earnout [...]
Westminster’s Beis committee to probe post-Brexit subsidies regime September 23, 2021 A Westminster committee is set to probe the UK’s post-Brexit subsidies regime and the role of the competition watchdog post-Brexit. The Business, Energy and Industrial Strategy (Beis) committee’s inquiry will look at “the main opportunities and challenges for businesses under the new UK state aid regime” and “whether competition policy in the UK has weakened [...]
Government proposes to make fake online reviews illegal July 20, 2021 The government has outlined plans to crack down on fake online reviews. Businesses that offer subscriptions would be required to detail exactly what a consumer signs up for. They should also allow them to cancel easily. Consumer champion ”Which?” said the plans should be ”swiftly implemented” ”Which?” director of policy and advocacy Rocio Concha, said [...]
Facebook’s Giphy takeover could harm Gif supply, watchdog warns March 25, 2021 The competition watchdog has given Facebook and Giphy five working days to address concerns their merger could harm the digital advertising market and the supply of Gifs. The Competition and Markets Authority (CMA) today said Facebook’s planned takeover of the popular gif-maker, worth a reported $400m (£320m), could stifle competition. Following an initial investigation, the [...]
Maersk dethroned by MSC as world’s largest shipper January 6, 2022 Swiss container giant MSC has steamed past Danish rival Maersk as the world’s largest shipper, after holding the title for several decades. MSC’s shipping capacity, the equivalent of 4,284m 20ft containers, inched past Maersk’s 4,282m. Maersk CEO Soren Skou said in May that, while he wanted to be boss of the “world’s largest” shipping company, [...]
EG Group to divest some petrol filling stations after watchdog concerns October 5, 2021 Petrol station forecourt operator EG Group has announced it will divest 27 petrol filling stations. The group – owned by the billionaire Issa brothers – said it had entered into a binding agreement to divest more than two dozen stations across the country to Park Garage Group. It comes after the competition watchdog expressed concerns [...]
UK must make tech firms pay for news, says competition watchdog April 13, 2021 The UK must introduce a new code to ensure news publishers are fairly compensated for the use of their stories on tech platforms, the competition watchdog has said. Daniel Gordon, senior director of markets at the Competition and Markets Authority (CMA), said his organisation agreed with the principles behind a new Australian law requiring tech [...]
Competition watchdog clears £31bn O2-Virgin Media merger April 14, 2021 The competition watchdog has provisionally cleared the £31bn merger between O2 and Virgin Media following an in-depth investigation. The Competition and Markets Authority (CMA) launched a probe into the tie-up amid concerns it would harm competition in the wholesale market. Virgin Media provides leased lines to mobile operators such as Vodafone and Three, while O2’s [...]
Streaming platforms like Spotify in the sights of competition watchdog October 19, 2021 An inquiry into the music industry, examining whether the rise of streaming services like Spotify and Apple Music are fair and competitive for the industry is set to begin. The UK watchdog will look at the issues that exist for both listeners and artists, gathering evidence to decide the best course of action against [...]