CMA’s review of market concentration in the pandemic January 18, 2021 In April 2020, the Competition and Markets Authority (CMA) cleared Amazon’s £450million investment into Deliveroo, heeding (and ultimately accepting) warnings from the parties that, absent the investment, Deliveroo would ultimately have to exit the market. Particularly so in the light of the impact of the government imposed lockdown and shuttering of restaurants. It is tempting [...]
Government report calls for regulations bonfire to give UK a ‘post-Brexit dividend’ February 16, 2021 The UK should slash regulation and overhaul the competitions authority to give the economy a post-Brexit boost, according to a report commissioned by the government. The report, written by Tory MP John Penrose, calls for the government to create a “Brexit dividend” by “replacing bureaucratic EU rules with modern, digital equivalents”. Penrose’s report, commissioned by [...]
UK launches national security review into Nvidia’s $40bn Arm takeover April 19, 2021 The UK has launched a review into Nvidia’s planned $40bn (£30bn) takeover of British chipmaker Arm amid concerns it could harm national security. Digital secretary Oliver Dowden today issued a public interest intervention notice (PIIN) relating to the proposed deal. Cambridge-based Arm is one of the world’s leading semiconductor companies. Chips are key to technologies [...]
Energy suppliers to face financial stress test as Ofgem grapples with winter crisis December 15, 2021 Ofgem has announced a raft of reforms to fix the energy sector following 25 suppliers collapsing in the past three months
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 [...]
Trusts slam £7bn cost of EU regulations the regulator could have already ditched March 17, 2024 A joint letter blasted the UK's "flawed" approach to representing investment trusts (Photo by Mike Kemp/In Pictures via Getty Images)
JD Sports beats profit forecasts as it shakes off pandemic hit April 13, 2021 JD Sports today reported full-year profits well ahead of market expectations as trading proved resilient despite the impact of store closures. The fashion retailer booked profit before tax and exceptional items of £421m in the year to the end of January. This was down from £439m the previous year but well ahead of market expectations [...]
Investment research budgets are finally on the rise again July 11, 2024 Investment research budgets have started to rise for the first time in six years, after European regulations hampered the growth of the industry.
Mark Kleinman: Why the City’s bonus cap move may not deliver Brexit bonus May 9, 2024 Mark Kleinman writes a weekly column for City A.M. - this week on Goldman bonuses, Foxtons' next move and broker job cuts
Lastminute.com threatened with legal action over unpaid package holiday refunds February 12, 2021 Travel platform Lastminute.com is facing legal action from the UK competition watchdog unless it repays customers whose package holidays have been cancelled due to the pandemic. The Competition and Markets Authority (CMA) warned the firm that it will take court action unless Lastminute processes the repayments – totalling £1m – within seven days. On 1 [...]