Raft of UK pharmaceutical directors risk being disqualified after CMA ruling September 2, 2022 The UK’s competition watchdog has today issued High Court proceedings to disqualify a raft of pharmaceutical directors, including Alliance Pharma’s CEO, over suspected anti-competitive agreements. The Competition and Markets Authority (CMA) launched the investigation into the UK’s pharmaceutical sector in 2017, and revealed earlier this year that several firms had been impeding competition in the [...]
Phoenix shareholders threaten legal action to block Mercuria’s full takeover September 2, 2022 Upstream oil and gas firm Phoenix Global Resources is being challenged by shareholders over the company’s decision to accept a full takeover offer from majority shareholder Mercuria. J Stern & Co, a London and Swiss based investment house, has threatened legal action against the decision on behalf of a group of minority shareholders. They argue [...]
Trump is ‘obviously thinking about running’ again says Jared Kushner September 2, 2022 Former President Donald Trump is “obviously thinking about running” for the president again according to his son-in-law and ex special adviser Jared Kushner. The comments come after the FBI accused the ex President of taking top-secret documents and storing them in his Florida home without permission. Last night, Joe Biden accused Trump of launching an [...]
UK competition watchdog clears £6bn Avast takeover by NortonLifeLock September 2, 2022 The £6bn acquisition of Avast by NortonLifeLock has been officially cleared by the UK’s competition watchdog. The Competition and Markets Authority had launched an investigated into the merger in March, with concerns the combined cyber security powerhouse would squash competition in the sector. The watchdog said that while it found a “realistic prospect” of weaking [...]
City Exclusive – SFO’s ‘unique skillset’ will be needed to tackle UK’s worsening fraud epidemic, Lisa Osofsky says September 2, 2022 The director of the UK’s Serious Fraud Office (SFO) has said the agency’s skillset will be needed to combat the mounting levels of increasingly complex and high-value frauds facing the UK’s court system. The letter comes in response to reports in this paper showing the number of fraud cases reaching the UK Crown Courts dropped [...]
Westminster push for North Sea fossil fuels slammed by climate groups September 2, 2022 Climate groups have criticised Westminster's latest attempts to boost oil and gas production in the North Sea.
City Moves: Who’s switching jobs in the Square Mile? September 2, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Branch Austin McCormick Mayfair-based law firm Branch Austin McCormick has built out its dispute resolution team with a new partner. Eugene Matveichuk, who stepped into the new position yesterday, brings more than 20 years of experience to [...]
Pace of retail footfall recovery slows in August as retailers look to autumn with ‘air of caution’ September 2, 2022 The recovery of retail footfall slowed last month as the cost of living crisis caused shoppers to steer clear of spending splurges. Although footfall at retail destinations in the UK continued to slowly climb back towards pre-Covid levels, the pace of improvement slowed, according to the latest data from the British Retail Consortium (BRC) and [...]
As our economy is squeezed from all sides, profit must not be a dirty word September 2, 2022 Over the last few weeks of the leadership election, we’re in danger of making profit a dirty word, as a myriad of problems threaten to engulf us. Recent figures have suggested the UK is headed for a chilling contraction; it is clear just how dangerous it would be if we failed to get growth back [...]
Tax cuts are not enough to help the small businesses facing crippling energy bills September 2, 2022 Households facing soaring energy bills have rightly been front and centre of the political conversation. But, as both candidates to become prime minister have pointed out, ultimately our prosperity depends on economic growth. And it’s through prosperity that the government acquires the ability to finance public services and support families in need. And, with GDP [...]
