TikTok rides out wider advertising slowdown December 5, 2022 TikTok is expected to ride out the advertising slowdown, as the Chinese-owned social media titan becomes an outlier to the wider industry slowdown. According to a new report published by GroupM, the media buying agency owned by WPP, TikTok doubled its advertising revenue in 2022. “This has likely been another driver of the advertising deceleration [...]
Insurers are undervaluing policy holders’ cars, FCA warns December 4, 2022 The UK’s financial watchdog has warned insurers against undervaluing policyholders’ vehicles after seeing evidence of customers being offered payouts less than their cars are worth. The Financial Conduct Authority (FCA) said it had seen evidence of customers who have had their cars written off being offered less money than their vehicle’s fair market price. It [...]
Ofwat to focus on credit ratings as it defends lack of debt limits for water suppliers December 2, 2022 Boosting the financial resiliency of each water supplier is more important than taming overall sector debt, argued Ofwat.
Brexit has contributed to UK inflation crisis, BoE’s Pill claims November 30, 2022 Brexit is partly to blame for UK inflation surging to a 41 year high and engineering a recession, the Bank of England’s top economist claimed today. Speaking at an event hosted by the Institute of Chartered Accountants, Huw Pill said worker shortages in Britain had been “met by the inflow” of EU migrants while the [...]
Mattress seller Emma probed by watchdog after discount urgency concerns November 30, 2022 Competition regulators are probing mattress seller Emma Sleep after concerns some of its online sales practices could be falling foul of consumer law. The sleep wellness brand is being investigated for potentially misleading shoppers by its use of countdown timers, with concerns of false warnings that a discounted price will end soon. A probe into [...]
Former Google exec Gill Whitehead named Ofcom lead for online safety November 30, 2022 A former Google executive will be joining Ofcom to oversee its new duties as the regulator for online safety. Gill Whitehead will head up the media watchdog’s Online Safety Group from April 2023, reporting to chief exec Dame Melanie Dawes. Whitehead currently leads the Digital Regulation Cooperation Forum (DRCF) which oversees the digital expertise of four member regulators: the [...]
Music to Spotify’s ears: Watchdog says streaming intervention not needed November 29, 2022 The competition regulator said it will not intervene in the music streaming market, deeming the industry valuable to both artists and consumers. In its final report published this morning, the Competition and Markets Authority (CMA) found that consumers actually benefited from digitisation and competition between music streaming services. Prices for consumers have fallen by more [...]
Supermarkets ‘implored’ to lower forecourt fuel prices after steady wholesale drop November 28, 2022 Motoring group the RAC has urged supermarkets for not lowering prices in forecourts despite wholesale fuel going down in price. The car-owners’ organisation appealed to the big four – Tesco, Sainsbury’s, Morrisons and Asda to make consumers’ lives easier amid the cost of living crisis. In new figures released, the RAC showed wholesale fuel prices [...]
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 [...]