CD&R offers to sell petrol stations so watchdog will green light £7bn Morrisons takeover April 7, 2022 Morrisons’ new private equity owner has suggested it would sell an undisclosed number of petrol stations in order to be approved by the UK’s competition watchdog. The competition watchdog had previously expressed concerns as Clayton, Dubilier & Rice (CD&R) also owns petrol station titan Motor Fuel Group (MFG). The Competition and Markets Authority (CMA) said [...]
UK Energy Strategy: Experts weigh in on plans to transform the domestic energy sector April 7, 2022 Analysts and experts assess the state of the UK's energy sector with the government announcing plans to boost domestic production.
FCA lays out three year plan to increase ‘enforcement and intervention’ April 7, 2022 The City watchdog has laid out a new three year regulatory strategy today to sharpen its efforts to protect consumers and increase its powers of “enforcement and intervention”.
The City View: Innovate Finance summit roundup, and two Lidl adverts banned April 6, 2022 Today Andy Silvester chats to City A.M. reporter Charlie Conchie, and whistles through the main headlines you need to know. Andy and Charlie go through this week’s fintech Innovate Finance summit — they discuss the London Stock Exchange CEO’s comments yesterday on bosses needing a pay boost; Ron Kalifa’s views on the mindset shift needed [...]
Former Phoenix boss Clive Bannister tipped as next competition watchdog chair April 6, 2022 The former boss of insurance group Phoenix has been tipped as one of the top choices for the chairman of Britain’s competition watchdog position. As reported by Mark Kleinman for Sky News, Clive Bannister, current chair of financial advisory group Rathbones and the Museum of London, may be in line to replace Jonathan Scott, who [...]
Seedrs boss hits out at regulators for stifling growth April 6, 2022 The boss of crowdfunding firm Seedrs has hit out at UK regulators today claiming they are stifling the potential of UK startups.
IAG boss says Air Europa deal will take at least 18 months April 6, 2022 The IAG – Air Europa deal will not be finalised for at least 18 months, IAG’s chief executive Luis Gallego said this morning. “We have to decide on a calendar to take 100 per cent, but I think it would take minimum 18 months,” said Gallego, adding that the company will need to secure anti [...]
Ministers offer open banking boost with ‘smart data’ investment April 5, 2022 Ministers threw their weight behind the roll out of open banking technology yesterday as they confirmed a funding injection in the development of so-called ‘smart data’ in financial services.
Inflation is pushing prices up – but anticompetitive cartels could be too April 5, 2022 Tough times prompt more crime. It is a truism which, as usual, contains a measure of fact. Prices have been rising for months and a spike in fuel costs worldwide has created a perfect storm for cartel activity and prompted an unprecedented reaction from the world’s leading competition agencies. One major concern is companies taking [...]
1 Minute Market Rundown – 4th April 2022 April 4, 2022 Russia – UkraineETH and SOL outperformingFed mind in focusS&P tops out March proved to be another strong month for employment data with the headline number inline and unemployment ticking lower. The tight labour market has reaffirmed the hawks’ calls for a 50bps hike in May by the FED. Of the remaining 6 meetings for the [...]