CMA raises consumer concerns over proposed Baker Hughes-Altus deal November 22, 2022 The Competition and Markets Authority (CMA) has raised concerns over Baker Hughes' proposed acquisition of Altus.
Competition watchdog launches deeper probe into Apple and Google’s mobile dominance November 22, 2022 Competition regulators continue to cast their net towards Google and Apple, with a new in-depth investigation launched this morning over their mobile browser dominance. The Competition and Markets Authority (CMA) said it would be examining whether new rules are needed for users and developers in this space after it conducted a consultation. Around 97 per [...]
FCA calls on credit raters to boost checks amid unaffordable loan fears November 22, 2022 The UK’s financial watchdog has called on credit rating firms to boost their credit checks on customers today amid fears that lenders are dishing out loans to borrowers based on patchy information.
Simon & Schuster to let £2bn Penguin deal fall through November 21, 2022 Simon & Schuster owner is set to let its $2.2bn (£1.9bn) sale to Penguin Random House collapse today after the deal was blocked by US regulators. Sources told Reuters that German media group Bertelsmann, which owns Penguin, has been unable to convince Paramount Global, Simon & Schuster’s owner, to launch an appeal of the decision. [...]
Digital Assets Week: Conversations from the corriDAW November 18, 2022 Lord Holmes wraps up Digital Assets Week with some thoughts on the common themes from conversations in the corridors.
Hunt pushes to make UK ‘the world’s next Silicon Valley’ November 17, 2022 The Chancellor has vowed to turn Britain into “the world’s next Silicon Valley,” stating that the key to global success was “not tax subsidies but competition”. In his Autumn statement, Jeremy Hunt restated the government’s commitment to pushing through legislation that would activate the Digital Markets Unit (DMU). Under the current draft Digital Markets Bill, [...]
“On the to-do list”: City minister promises reform as London slips behind Paris November 14, 2022 THE CITY minister Andrew Griffith yesterday said post-Brexit financial services reforms were on his “to do list” after new figures suggesting Paris’ stock market had overtaken London’s sent a shockwave through the Square Mile. The total value of all listings in the French capital overtook London last month, according to number crunchers at Bloomberg. Whilst [...]
Spanish telecoms Cellnex firm widens reach in the UK under £8.7bn deal November 11, 2022 Spanish telecoms firm Cellnex is widening its reach in the UK under a €10bn (£8.7bn) European deal covering six countries. The Competition and Markets Authority (CMA) has now cleared the deal for CK Hutchison, which owns telcoms towers, in the UK. Cellnex has also acquired CK Hutchison in Austria, Ireland, Denmark, Sweden and Italy. The [...]
Barclays told to pay £1m to more than 1,000 mortgage customers over PPI breaches November 9, 2022 The UK’s competitions watchdog has ordered Barclays to pay up to £1m in compensation to at least 1,000 of its mortgage customers, over its failure to comply with rules around Payment Protection Insurance (PPI) policies. The UK’s Competition and Markets Authority (CMA) said Barclays should pay compensation to as many 1,306 of its mortgage customers, [...]
EU opens probe into Microsoft’s £59bn deal to buy Call of Duty maker Activision Blizzard November 8, 2022 The European Commission has opened an in-depth investigation into Microsoft’s proposed $68.7bn (£59.5bn) acquisition of Call of Duty maker Activision Blizzard. The commission said it was concerned that the proposed deal may reduce competition in the market. A preliminary investigation found that the transaction may significantly reduce competition, including multi-game subscription services and cloud game [...]