The CMA is right to place its faith in tech, not gimmicks May 17, 2016 The CMA has made a bold call in its retail banking market investigation, ignoring continued cries to break up banks and ban the prevalent free-if-in-credit current account model, and instead putting its faith in innovation. It correctly identified that the problems in the current account market start with customers’ difficulties navigating the market. But, perhaps [...]
Juice merger could be orange squashed after CMA warns of reduced competition and higher prices May 17, 2016 A merger between the country's two biggest suppliers of freshly squeezed fruit juice may have to undergo a thorough probe after an initial investigation found it could lead to higher prices for retailers and consumers. Hain Frozen Foods UK bought Orchard House Foods on 21 December, but they are the only two suppliers to supermarkets in the country [...]
London Eye Finnish-ed? Helsinki gets world’s first giant ferris wheel with sauna cabins May 17, 2016 Finland’s Skywheel Helsinki is set to steal London Eye’s thunder with the launch of SkySauna, the world’s first sauna cabin mounted on an observation wheel. Due to launch next month, each cabin will carry up to five people who’ll be able to bask in temperatures of up to 94F (90C). Visitors on the two-and-a-half-minute ride [...]
War of words breaks out between Stock Spirits and shareholder rebel Luis Amaral after company’s board reached out to quell dissent and strike compromise May 17, 2016 A war of words has broken out today between the board of European drinks company Stock Spirits and its largest investor, Western Gate Private Investments. Tensions between the board and Western Gate, which owns almost 10 per cent and is headed by Portuguese cash-and-carry tycoon Luis Amaral, reached a new high today. Western Gate lashed [...]
Hollande renews support for EDF’s Hinkley Point May 17, 2016 The French president today renewed his support for EDF's Hinkley nuclear power plant, amid questions about his government's support for the £18bn flagship project. "I am in favour of this project going ahead," François Hollande told Europe 1 radio in a interview today. "EDF and Areva are public companies on which we should rely. But at the same time, [...]
What to Expect at Google I/O: Beyond mobile… and reality May 17, 2016 This week the eyes of the technology industry are all on Google’s annual developer conference – Google I/O occurring from 18-20 May. The first conference since the creation of Alphabet has a brand new outdoor home – Shoreline Amphitheatre in San Francisco. While tech blogs are already awash with rumours, I’d like to share some areas to look [...]
Enterprise Inns posts revenue growth and announces it will sell 22 commercial property sites in a £20m deal by mid-June May 17, 2016 The UK's largest pub company, Enterprise Inns, has made "good progress" in the first half of 2016 and is primed to sell 22 of its commercial sites in a £20m deal by mid-June. The figures Enterprise Inn's revenues nudged up by £3m in the first half of 2016, from £302m this time last year to [...]
US inflation jumps to three-year high as gas prices soar May 17, 2016 Prices in the United States jumped by their highest amount in more than three years during April, as inflation hit 0.4 per cent, putting more steam behind the chances of further interest rate rises this year. The consumer prices index moved up from 0.1 per cent in March, as energy prices increased considerably during the [...]
Cameron under fire over claims he backed remain, even while negotiating with EU May 17, 2016 Prime Minister David Cameron has come under fire from Leave campaigners after he reportedly wrote to business leaders to discuss a Remain campaign strategy even before sealing a renegotiated deal with the EU. According to the Daily Mail, Cameron wrote to Serco boss Rupert Soames just under two weeks before his renegotiation was complete. In a [...]