Inmarsat rejects call from investor to delay takeover court hearing November 5, 2019 Satellite firm Inmarsat, which is being bought by a private equity-led consortium, has rejected a call by investor Oaktree Capital to delay a takeover court hearing until it has clarity on the status of its US spectrum holdings. Oaktree, which has a 2.85 per cent stake in Inmarsat, called on the board to delay the [...]
Competition watchdog gives green light for Paypal’s $2.2bn merger with iZettle April 30, 2019 The competition watchdog has given provisional approval to Paypal’s $2.2bn (£1.7bn) takeover of payments firm iZettle. Read more: Watchdog launches in-depth probe into Paypal-iZettle merger The Competition and Markets Authority (CMA) launched a probe into the merger last year amid concerns it would lessen competition between payment platforms in the UK. But in a provisional [...]
British competition watchdog to probe JD Sports’ £90m Footasylum merger May 17, 2019 The Competition and Markets Authority (CMA) is investigating JD Sports' merger with Footasylum, it confirmed today. JD Sports recently completed the acquisition of Footasylum in a deal worth £90m. Read more: Thomas Cook shares crash as investors urged to sell Both JD Sports Fashion and owner of Footasylum, the Pentland Group, have been issued with an initial [...]
William Hill beats profit expectations but warns of £10m hit from credit card ban February 26, 2020 William Hill managed to beat its own expectations on full year profit today after the government rolled out a £2m betting limit, but warned of a possible £10m hit from an impending credit card ban. The figures William Hill’s adjusted operating profit fell 37 per cent year on year to £147m, ahead of management guidance [...]
General Election 2019: Conservative Party to ditch central tenet of Big Four audit reform plans November 25, 2019 The Conservatives will throw out a proposal to impose mandatory joint auditors on large companies if they win the General Election. Officials at the Department for Business, Energy and Industrial Strategy (Beis) have in recent weeks indicated that the system is unlikely to be introduced as part of wider reform of the auditing sector, Sky [...]
Competition watchdog to probe £1.6bn One Savings Bank and Charter Court merger June 5, 2019 The competition watchdog has announced it is investigating the potential £1.6bn merger between One Savings Bank and Charter Court. The Competition and Markets Authority (CMA) said it would assess whether the deal would lead to a “substantial lessening of competition” in the market. Read more: One Savings Bank and Charter Court announce terms of £1.6bn [...]
Competition regulator accuses Casio of preventing price discounts April 11, 2019 Britain's competition watchdog has accused electronics giant Casio of illegally preventing price discounts today. Casio was provisionally found to have broken competition law by "restricting retailer freedom to discount online" by the Competition and Markets Authority (CMA) this morning. The Competition and Markets Authority (CMA) has issued a statement of objections to Casio Electronics which, as [...]
The FTSE 100 is lagging behind soaring global markets – but why? July 13, 2020 Stock markets around the world have soared in recent months even as economies crashed, aided by central banks pumping trillions of dollars into the system. But although all stock markets are rising, some are rising faster than others. Britain’s FTSE 100 is lagging behind almost all other major stock indices. It has risen just over [...]
Major companies could be exempt from joint audit rules in competition watchdog report April 14, 2019 The UK’s competition watchdog reportedly could exclude some major companies from a new rule that would require many business to appoint joint auditors. Sky News reported that the Competition and Markets Authority (CMA) is set to publish its long awaited report into the audit sector this week. According to the report, the CMA has been [...]
Apple vows to be more open about iPhone performance after consumer law concerns May 22, 2019 Apple has pledged to be more transparent about the battery health and performance of its iPhones, the competition watchdog said today. The Competition and Markets Authority (CMA) said the US tech firm has vowed to be “clearer and more upfront” with iPhone users following concerns it might be breaching consumer law. Read more: Former Apple [...]