Banks may win reprieve from market probe March 31, 2014 THE BANKING industry is changing so dramatically that the new competition regulator may choose not launch an investigation into the market, City A.M. understands. The move comes despite calls from Labour’s Ed Miliband to shake up the sector. The opposition leader wants to create two new banks – possibly carving them out of Lloyds and [...]
Letters to the Editor – 12/06 – Simpler energy, Best of Twitter June 11, 2014 Simpler energy [Re: A bureaucratic nightmare, Tuesday] Stephen Littlechild overlooks the importance of Ofgem’s reforms to make the energy market simpler, clearer and fairer for consumers. Consumers told us they found the market confusing and that the number of tariffs on offer put them off shopping around. We have placed a limit of four core [...]
A bureaucratic nightmare risks stifling innovation in Britain’s energy market June 9, 2014 OFGEM’s chickens are coming home to roost, and the energy market regulator now faces a choice. It must decide whether it really is sensible to enforce the restrictions on energy suppliers it has spent the last few years formulating, or whether it will change course, given the bureaucratic nightmare and damage to market innovation that [...]
Watchdog drops most of hospital break-up order April 2, 2014 THE NEW competition watchdog has rowed back on break-up plans for London’s private hospitals, in a surprise decision that has been welcomed by some companies but left others baffled. After two years of investigations the Competition and Markets Authority, known until this week as the Competition Commission, said one or two London hospitals must be [...]
New competition authority says UK private healthcare will see a crackdown April 2, 2014 The newly-formed Competition and Markets Authority (CMA) has announced it’s cracking down on private healthcare benefits and incentive schemes. It’s also forcing the sale of some hospitals, after a two-year investigation by its predecessor, the Competition Commission. The watchdog says it’s shelving demands for BMI Healthcare, Britain’s biggest private healthcare provider, to sell off several [...]
How we’re revitalising markets for economic growth April 2, 2014 MARKETS when they work well are incredibly powerful. When we drive around we don’t have to think about the supply chain needed to produce the 30,000 or so parts that go into a modern car. As we shop for groceries we don’t need to consider what it takes to assemble fresh food from dozens of [...]
We’re resetting the energy market to make it simpler and smarter April 16, 2014 WHEN energy consumers open the next bill, letter or email from their supplier, they should notice some major changes. On every energy bill, they will now receive personalised information about the cheapest tariff their supplier can offer. They will also receive an accurate projection of how much they will pay if they stay on their [...]
Who’s afraid of a little energy market competition? March 24, 2014 The debate around competition in the energy market is hotting up. The regulators are due to give their assessment of the market later this week, along with a possible recommendation to refer the investigation to the Capital Markets Authority (CMA). Consumer group Which? and the Federation of Small Businesses have written a joint letter [...]
New competition regulator to begin review of banking March 11, 2014 The Competition and Markets Authority (CMA), the UK's new competition regulator, has announced today that it’s starting a short programme of work into the banking sector, with a decision on whether or not to make a market investigation by the autumn. It’ll publish its work on person current accounts and SME banking in the summer, [...]
Market authority set to greenlight Sky Europe deal May 11, 2014 THE UK’s newly established Competition and Markets Authority (CMA) yesterday said it would likely greenlight a deal by Rupert Murdoch’s 21st Century Fox to consolidate its pay-TV European holdings were it to be approved by the EC. In 2010, European authorities approved News Corp’s bid to take full control of BSkyB. Murdoch is said to [...]