Mastercard faces £10bn class-action lawsuit in UK August 19, 2021 A UK court has approved the UK’s biggest class action lawsuit of over £10bn against global payments processor Mastercard on behalf of 46m consumers, according to reports. The previously rejected lawsuit was formally certified on Wednesday to go to trial by the Competition Appeal Tribunal (CAT) in London. It will be the first mass claim [...]
RedCat acquires The Coaching Inn Group for undisclosed sum August 13, 2021 Former Greene King boss Rooney Anand has announced he will acquire The Coaching Inn Group under his investment vehicle. Red Cat will take on the estate of 18 sites for an undisclosed sum. The Coaching Inn Group operates historic coaching inns in market towns including in the Cotswolds, Peak District, Leicestershire, Staffordshire, and Cambridgeshire. Chief [...]
CMA accuses pharma firms Pfizer and Flynn of charging NHS illegal prices for anti-epilepsy drug August 5, 2021 The UK’s competition watchdog has accused pharmaceutical firms Pfizer and Flynn of breaking competition law and overcharging the NHS for crucial anti-epilepsy drugs, in a new re-investigation following a years-long battle with the companies. Pfizer and Flynn “abused their dominant positions” and charged the NHS “unfairly high prices” for life-saving phenytoin sodium capsules, for which they [...]
Just Eat Takeaway investor calls for merger as it slams stock performance July 27, 2021 A major investor in Just Eat Takeaway has urged the food delivery platform to explore a potential merger as it took aim at the company’s share price performance. Cat Rock Capital, which holds a 4.7 per cent stake in the group, slammed management’s “deeply flawed communication” with investors, which it blamed for a 28 per [...]
US stocks rise on strong quarterly earnings July 21, 2021 US stocks rose during the open on Wednesday after investors were boosted by a string of strong company quarterly earnings. The blue chip S&P 500 rose 0.48 per cent, lifted by gains in cyclical stocks. The tech-heavy Nasdaq added 0.39 per cent, while the Dow Jones was up 0.69 per cent. Yields on 10-year US [...]
US stocks rebound after heavy losses July 20, 2021 US stocks recovered from a battering yesterday during the morning session as investors purchased assets that looked cheap after Monday’s falls. All the US’ main benchmarks rose in the morning. The blue chip S&P 500 was up 1.12 per cent; the tech-heavy Nasdaq increased 0.73 per cent and the Dow Jones added 1.49 per cent. [...]
Global banking powerhouses await forex class action ruling July 12, 2021 A London court this week will rule whether a multi-billion-pound class action filed against the world’s largest banks over accusations of foreign exchange rigging can proceed. Barclays, NatWest, UBS, Citigroup, JPMorgan and MUFG Bank are waiting to see whether they will face the first forex class action in the UK after the five-day hearing kicked [...]
City A.M. TV: A market snapshot July 12, 2021 Last week’s price action left more questions unresolved than answered. Was Thursday’s weakness the start of a new pullback? Was Friday’s rally a dead cat bounce, or the start of a renewed uptrend? Have US 10 year bonds now put in their yield low? Indeed in the UK the pattern was similar with marked weakness [...]
Most Dangerous Game: Waltz is excellent in bitesize TV thriller July 7, 2021 If you were to write a must-have list for action thrillers, TV show Most Dangerous Game would tick many of the boxes. You have a desperate hero with nowhere to turn, a villain with scary levels of omnipotence, and a concept that is easy to buy into. Liam Hemsworth is Dodge Tynes, an earnest hero [...]
How to enjoy the sizzle of steak this National BBQ Week July 5, 2021 What will the man behind the 25th National BBQ Week, which begins today, be eating and drinking at his barbecues this summer? “Corsican Cote de Boeuf and Corsican Niellucci,” says chef Brian George, “And sizzling sea bass with fennel, chilled Picpoul de Pinet and chicken ciabatta, and Sangiovese.” George is a former President of the [...]