Competition watchdog seeks to find Viagogo in contempt of court July 4, 2019 The UK’s competition watchdog is to launch proceedings to find online ticket marketplace Viagogo in contempt of court, it announced today. Read more: MPs warn consumers against using ticket reseller Viagogo The Competition and Markets Authority (CMA) said the move comes after Viagogo allegedly failed to overhaul the way it presents information on its website [...]
Government’s coronavirus business interruption loan scheme ‘not fit for purpose’, says consultancy March 20, 2020 The government’s coronavirus business interruption loan scheme “is not fit for purpose”, according to international consultancy and economic analysis firm Fideres. The London-based company, which specialises in competition economics, says the government’s strategy fails to meet three basic criteria. Fideres argues that the loan scheme is not simple, fast or fair. The consultancy says it [...]
Publishers hit out at ‘unscrupulous’ tech giants over digital ad market domination September 11, 2019 British news publishers have clashed with Silicon Valley tech giants amid a government probe into anti-competitive behaviour in the digital advertising market. Media organisations including the Daily Mail’s parent company and Channel 4 have launched blistering attacks on Facebook and Google over their monopoly power and “unscrupulous behaviour”. Read more: Competition watchdog launches probe into [...]
Government intervenes in £4bn Cobham takeover over national security concerns September 18, 2019 The government has hauled in the £4bn foreign takeover of aerospace giant Cobham on national security grounds, it said today. Business secretary Andrea Leadsom issued a European intervention notice yesterday to scrutinise US private equity giant Advent International’s huge offer for the British company. Read more: Cobham investors give green light to £4bn private equity [...]
Aspen pays out £8m to NHS in antitrust probe August 14, 2019 Aspen Pharmacare has agreed to pay £8m to the NHS as part of a settlement with the competition watchdog after admitting it made an anti-competitive deal with two other companies. The drug maker has accepted it formed an “illegal, anti-competitive agreement” when it entered into an agreement with two rivals in 2016. Read more: Private [...]
Competition watchdog to examine £500m Ovo Energy-SSE deal October 24, 2019 The Competition and Markets Authority (CMA) said today it was looking into whether Ovo Energy’s £500m acquisition of energy supplier SSE’s retail arm will harm competition. SSE’s retail energy business supplies around 3.5m households in the UK. The watchdog said it was inviting comments on the transaction from interested parties until 6 November. Alistair Phillips-Davies, [...]
Google suspends Viagogo from advertising amid claims ticket site has not changed its ways July 17, 2019 Google has today dealt a blow to controversial second-hand ticketing company Viagogo by suspending its website as an advertiser. It is the second setback for the firm this month. Earlier in July, the Competition and Markets Authority (CMA) said it would take Viagogo to court. Read more: MPs warn consumers against using ticket reseller Viagogo [...]
Government intervenes in Inmarsat deal on national security grounds July 22, 2019 The UK government is to investigate the sale of London-listed satellite company Inmarsat to a private-equity and pension fund group on national security grounds, it said today. Read more: Inmarsat bidders look to appease government Inmarsat, Britain’s biggest satellite company, agreed in March to be bought by an international group including buyout firms Apax and [...]
Joe Media loss deepens as parent company starts layoffs February 9, 2020 Digital publisher Joe Media has posted a widening loss in its latest full-year accounts, weeks after its parent company announced job cuts in a bid to turn around its ailing finances. The news site, which also runs the popular House of Rugby podcast, reported a loss of £1.7m in 2018, compared to a £1.6m loss [...]
William Hill suspends dividend as sports cancellations hit betting firms March 16, 2020 William Hill today said it has suspended its dividend due to widespread sports cancellations, sending its shares crashing more than 35 per cent. The betting giant warned the postponement of key sporting fixtures would reduce its earnings by up to £110m. The company, which makes more than half its revenue from its sports book business, [...]