Mitie snaps up telecoms tower design house P2ML amid competition probe April 1, 2022 Mitie has snapped up a telecoms tower design house for £2.1m. It has acquired P2ML, which provides construction and maintenance services for cellular telecoms infrastructure. The strategic outsourcing firm is being probed by the competition watchdog for its reported relationship with US company PAE, in trying to get contracts for immigration removal centres (IRC). The [...]
FCA faces backlash from crypto industry amid regulatory uncertainty March 31, 2022 The UK's crypto industry has voiced concerns that the financial watchdog's stringent regulatory standards are pushing firms offshore.
Competition watchdog ‘raids’ Mitie Group’s London HQ over immigration centre contract investigation March 30, 2022 The Competition and Markets Authority (CMA) ‘raided’ the offices of outsource company Mitie, over concerns about alleged anti-competitive behaviour. The firm’s London premises were reportedly looked according to the Guardian, regarding its reported relationship with US company PAE, in trying to get contracts for immigration removal centres (IRC). This comes after the CMA launched an [...]
1 Minute Market Rundown – 30th March 2022 March 30, 2022 Russia – Ukraine de-escalation?Asian Stocks higherCrypto consolidates Risk continues to trade firm overnight and this morning as the market begins to see the path of least resistance as a de-escalation in geopolitical risks from the Ukraine invasion. It would take a brave person to say we are completely out of the woods but it is [...]
1 Minute Market Rundown – 29th March 2022 March 29, 2022 Russia – UkraineAre we back in 2021?Crypto consolidates You’d be forgiven for thinking you had woken up in early 2021 when looking at some US stocks this morning. AMC up 50%, GameStop up 25% and Bed Bath and Beyond up 17%. Meme stocks seem to be en vogue once again but we will try not [...]
Konecranes and Cargotec spike merger after UK watchdog blocks deal March 29, 2022 Cranes manufacturer Konecranes and cargo machinery firm Cargotec have spiked their upcoming merger following intervention from the UK’s competition watchdog. The Competition and Markets Authority (CMA) blocked the deal, on the basis that the Finnish duo selling off all overlapping businesses would fail to address the regulator’s concerns. The deal, announced at the beginning of [...]
1 Minute Market Rundown – 28th March 2022 March 28, 2022 Russia – UkraineBanks predict a more aggressive FEDCrypto looks to break out…finally Markets currently have two themes. The first is the bond market which continues to trade as if it’s on the receiving end of a slap from Will Smith. Yields relentlessly push higher as the market continues to reprice an even more hawkish FED. [...]
Exclusive: Competition watchdog to unveil open banking regulatory committee after fintech pressure March 25, 2022 The competition watchdog is set to unveil a new committee of regulators tomorrow to oversee the rollout of open banking technology, after sustained pressure from fintechs.
Watchdog says Morrisons takeover could lead to higher fuel prices in more than 100 locations March 24, 2022 The competition watchdog has said Morrisons’ blockbuster private equity takeover could lead to higher fuel prices. Clayton, Dubilier & Rice (CD&R)’s £7bn takeover of the supermarket could lead to higher fuel prices in 121 locations where both firms own forecourts, the regulator said. The Competition and Markets Authority (CMA) said it has concerns about the [...]
1 Minute Market Rundown – 24th March 2022 March 24, 2022 Russia – UkraineYields in focusCrypto consolidates Rates markets continue to dominate proceedings with yields continuing to push higher but risk is holding in rather well. Looking across equities and crypto it feels like the dips are getting shallower and we are putting in higher lows. We have been saying crypto has been quietly bid and [...]