Veolia to pocket £2bn from Suez UK waste unit as CMA forces energy giant to sell August 8, 2022 Veolia said this afternoon it plans to sell Suez’s UK waste business to Macquarie for £2bn after regulators raised competition concerns. The French utilities giant agreed to buy smaller French competitor Suez in a £10.9bn deal last year. However, it has had to sell parts of Suez’s waste operations in numerous regions amid concerns over [...]
Investment should flow from our thriving pension market August 8, 2022 People from around the world come to use the UK’s financial markets to fund their ventures, build their economies and make a return. Yet, for years, the UK has been poor at turning this natural advantage into investment here at home. For example, the UK has the second largest pension pot in the entire world, [...]
Fraud on the rise as cost of living soars, FCA warns August 4, 2022 The UK’s top financial watchdog sounded the alarm over rising fraud rates today as scammers look to swoop on vulnerable consumers amidst a cost of living crunch.
Lloyd’s of London aims to attract billions in capital via launch of new investment vehicle August 4, 2022 Lloyd’s of London has set out plans for the launch of a new investment vehicle, with a view to drawing in billions from institutional investors. The London insurance market today announced plans to set up a second protected cell company (PCC) following the successful launch of its London Bridge Risk PCC vehicle last year. [...]
‘Bad for competition’: Stephen King pushes back against Penguin and Simon & Schuster merger August 3, 2022 Novelist Stephen King has slammed the proposed merger of Penguin Random House and Simon & Schuster, deeming it "bad for competition".
Cost of living: Morrisons follows Tesco and Asda in announcing fuel price cut of 6p per litre August 3, 2022 Morrisons is the latest supermarket to announce it is slashing the price of fuel, as households struggle to stay afloat amid a cost of living crisis. The retailer said on Wednesday that it had cut the cost of unleaded and diesel by an average of six pence a litre over the last week at all [...]
CMA provisionally clears cyber firm NortonLifeLock’s £7bn bid for Avast August 3, 2022 The competition regulator has provisionally cleared cybersecurity firm NortonLifeLock's $8.6bn (£7.1bn) deal to snap up Avast.
JD Sports appoints former B&Q exec as CEO August 2, 2022 JD Sports has named former B&Q executive Régis Schultz as new CEO, as the sportswear retailer hopes to put a slew of negative headlines behind it. Schultz is anticipated to join the London-listed retailer in September, with interim boss Kath Smith to resume her former role as a senior independent director on the board. He [...]
JD Sports sells Footasylum to private equity firm after watchdog crackdown August 1, 2022 Trainer seller JD Sports has inked a deal to hand over Footasylum to Aurelius Group for £37.5m, following competition concerns. In recent weeks, JD Sports had been rumoured to be in talks with the German private equity group about selling the high street brand, which it attempted to takeover in 2019. JD said the sale [...]
Asos, Boohoo and George by Asda probed by watchdog on green claims July 29, 2022 Asos, Boohoo and Asda’s clothing arm George will be investigated by the competition watchdog to work out whether their green claims are misleading shoppers. The Competition and Markets Authority (CMA) said retailers could face court action if their sustainability claims are found to be misleading. Fashion collections, such as ‘Responsible edit’ from ASOS, Boohoo’s current [...]