Best of tech opinion in 2022 December 29, 2022 From Elon Musk and Mark Zuckerberg to algorithms keeping us in with our daily dose of otters, some of the best tech opinion in City A.M.
Under the pump: Priti Patel among 29 MPs to back call for fuel pricing watchdog December 28, 2022 Priti Patel has joined almost 30 other colleagues in calling for a pump pricing watchdog to tackle the soaring fuel costs for motorists. The former home secretary signed a letter backing FairFuelUK’s call for an oversight body and commissioner to keep prices down, which is also supported by Dame Andrea Leadsom. This comes as motoring [...]
Government ‘will not hesitate’ to ensure retailers give drivers fair fuel prices December 23, 2022 Fuel retailers have been threatened with state intervention over prices by the business secretary, who urged companies “to take any steps necessary” to ensure affordable prices for drivers. In a letter to retailers on Thursday, Grant Shapps said the government “will not hesitate to act to ensure competition is healthy and consumers get a fair [...]
FinTech sector asks UK government for more clarity in 2023 December 22, 2022 A group of UK based FinTech companies have written an open letter to the Financial Conduct Authority (FCA) calling for greater clarity on how open banking will be regulated from 2023 onwards. The letter criticizes the Joint Regulatory Oversight Committee (JROC), a regulatory body established in March by the Competition and Markets Authority (CMA). The [...]
Car premiums increase 17.4 per cent after FCA price walking ban December 20, 2022 The average car premium has soared 17.4 per cent in the past year, according to recent research. Data published today by market researcher Consumer Intelligence shows that average premiums now cost £877, surpassing by 6.7 per cent current inflation rates. According to senior insight analyst Georgia Day, the unsurprising surge has been driven by the [...]
Exclusive: Top fintechs slam regulators for slow progress on open banking December 20, 2022 A group of top fintech firms including Monzo and Wise have slammed UK regulators for a lack of progress on open banking today, claiming the “integrity and potential” of the regime in the UK is at risk.
Shop ’till you drop: Christmas spending up despite rampant inflation December 20, 2022 Shopping habits die hard as Brits continue to spend across the board in the run-up to Christmas and the holiday season despite historic levels of inflation raising prices. Spending on essentials is up by an average of 43.5 per cent compared to the same time last year, with non-essential expenditure also rising by an average [...]
Competition regulator appoints interim CEO to permanent role December 19, 2022 The Competition and Markets Authority has appointed its interim CEO to a permanent role. Business Secretary Grant Shapps confirmed that Sarah Cardell will take over at the regulator immediately, having been running it since July following Andrea Coscelli’s departure. Cardell, who has 20 years of experience in the competition and consumer enforcement was previously general [...]
Rivals raise eyebrows over BT’s Openreach price cuts December 14, 2022 BT’s Openreach has said it plans to offer cheaper rates to its wholesale clients like Sky and TalkTalk as it tries to push Brits from copper to full fibre. The move will benefit big internet providers that do not have their own fibre networks, but has raised eyebrows amongst the firm’s biggest rivals. The main [...]
CMA launches investigation into rising cost of antibiotics amid Strep A outbreak December 14, 2022 The rising prices of antibiotics amid an outbreak of Strep A in the UK has raised concerns with the UK’s competition watchdog. The Competition and Markets Authority (CMA) launched an investigation into the price rises today. Some pharmacies have reported being charged up to £19 for a box of drugs that normally costs a few [...]