City Moves: Who’s switching jobs in the Square Mile this week? June 16, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. CBRE board bags ex-BlackRock real estate lead A former head of global real estate at investment heavyweight BlackRock is set to join real estate services firm CBRE in June. Marcus Sperber [...]
Lina Khan: How America’s answer to Margrethe Vestager plans to take on Big Tech June 16, 2021 Since taking over as European Commissioner for Competition in 2014, Margrethe Vestager has made her mission clear: to crack down on the ballooning power of Big Tech. The ruthless competition czar has undoubtedly delivered on those ambitions, handing down high-profile fines running into the tens of billions of euros against the likes of Facebook, Apple, [...]
Apple and Google under scrutiny from regulator over smartphone dominance June 15, 2021 Apple and Google are facing an investigation by UK competition authorities over concerns their dominance in the smartphone market is harming consumers. The Competition and Markets Authority (CMA) today said it will examine whether the companies’ “effective duopoly” over the supply of operating systems, app stores and web browsers should be curbed. The market study [...]
City watchdog vows Big Tech crackdown over scam adverts June 15, 2021 The City watchdog has pledged to use post-Brexit powers to crack down on tech giants such as Google over online fraud. The Financial Conduct Authority (FCA) has warned platforms they must do more to block scam adverts following a surge in cases during the pandemic. The regulator added it would not hesitate to take tough [...]
UK to roll out new TV streaming rules in boost for broadcasters June 14, 2021 The government is said to be preparing new rules that would force tech firms such as Amazon and Samsung to give greater prominence to public broadcasters. Legislation being finalised by Whitehall officials will guarantee that public service broadcasters (PSB) such as the BBC, ITV and Channel 4 are easy to access on smart TVs, the [...]
New tech regulation mustn’t be allowed to stifle innovation June 3, 2021 There is scarcely any market that could not be described as digital in 2021. In ten years time, the phrase ‘digital market’ will be, effectively, redundant. We should be concerned, then, by the creation of a powerful new regulator with a remit to cover all ‘digital markets’. Read more: UK says any global tax deal [...]
Facebook and Google lobby UK to block Paul Dacre as Ofcom chair May 25, 2021 Facebook and Google are said to have ramped up their lobbying of the UK government amid fears Paul Dacre could be appointed as the next chair of Ofcom. Dacre, the former editor of Daily Mail, has been tipped as the frontrunner to lead the UK’s media watchdog. He is one of four final candidates set [...]
EU to demand tougher pledges from tech giants over fake news May 19, 2021 Tech giants such as Facebook and Google will be forced to make firmer pledges to crack down on misinformation on their platforms on new rules being prepared by the EU. The European Commission is planning to hold social media firms more responsible for curbing the money they make through advertising placed next to false information. [...]
Queen’s speech: Anger over social media safety laws as online scams excluded May 11, 2021 Campaigners have hit out at the government’s decision not to include scams in new legislation aimed at stamping out online harms. Plans to hold tech firms liable for harmful material posted to their platforms moved forward today after the Online Safety Bill was confirmed in the Queen’s Speech. The draft laws will force companies such [...]
City A.M. TV: Daily Market Snapshot (video) April 26, 2021 Since early April, US equity markets have been in a persistent uptrend. That’s been is aided and abetted by (i) notable US dollar weakness; (ii) lower bond yields (resulting in tech outperformance); and (iii) a strong Q1 earnings season, with most US companies surprising markets to the upside. In that respect, and while US equity indices [...]