National Express and Stagecoach announce merger, creating £1.9bn company December 14, 2021 Coach giant National Express and rival Stagecoach have announced they will merge by late 2022, reaching an agreement after months of talks. Following the announcement, shares for both Stagecoach and National Express surged, going up 12 and 2.98 per cent respectively. The new company – which will have a fleet of around 40,000 vehicles and [...]
Paul McCartney to invest in music start-up Audoo December 13, 2021 Former Beatle Sir Paul McCartney is reportedly among the investors financing music start-up Audoo. McCartney – joining the likes of music firm Tileyard London and Abba singer Bjorn Ulvaeus – is behind the app’s £7.2m funding round, the Times reported. In its pre-series B funding Audoo – which aims to revolutionise the royalty payment system [...]
CMA launches probe into Microsoft $16bn Nuance deal on antitrust concerns December 13, 2021 Britain’s competition watchdog has launched an investigation into Microsoft Corp’s $16bn acquisition of artificial intelligence and speech technology firm Nuance Communications on antitrust concerns. The Competition and Markets Authority (CMA) this morning said it was launching the probe to establish whether the deal would “result in a substantial lessening of competition within any market or [...]
JD Sports appears to relinquish Footasylum in takeover battle with watchdog December 12, 2021 Footwear firm JD Sports seems likely to admit defeat in its clash with the country’s competition watchdog over its proposed takeover of a rival. JD Sports had been looking to buy rival footwear retailer Footasylum but has faced multiple obstacles from the Competition and Markets Authority (CMA). After a decision from the watchdog, JD was [...]
Hilton Food snaps up Dutch seafood company Foppen to grow protein category and enter new markets December 10, 2021 The Hilton Food Group, the multi-protein food business, has acquired the smoked salmon producer, Dutch Seafood Company B.V., which trades as "Foppen", expanding its presence in a growing protein category, as well as entering the US, a new geography for Hilton.
Italy slaps Amazon with €1.1bn fine for abusing market dominance December 9, 2021 Italy’s competitions watchdog has slapped Amazon with a €1.13bn (£965m) fine for harming rival e-commerce logistics services.
FCA’s boss reveals the watchdog is having a hard time signing up data and tech specialists December 9, 2021 City watchdog the FCA has revealed it is struggling to hire in-demand technology specialists. Financial Conduct Authority (FCA) chief executive Nikhil Rathi told MPs on the Treasury Select Committee that it was having to “manage the challenges” of hiring, particularly for data and technology roles. Rathi said the “hot” jobs market and moves by big [...]
Gridserve to roll out biggest EV charging upgrade in UK history December 9, 2021 Gridserve will roll out the biggest upgrade of motorway electric vehicle (EV) charging points in UK history, as the company announced that 20 electric hubs will be installed across the country from March. Each hub will feature between 6 and 12 350kW chargers, adding up to 100 miles of range. Gridserve will also build two [...]
City watchdog urges finance industry to shape up in fresh consumer drive December 7, 2021 The City watchdog today threw down the gauntlet to the financial services industry by launching a fresh regime that puts consumers at the heart of firms’ work. The Financial Conduct Authority (FCA) set out plans to introduce a new guiding duty that is intended to bolster consumer protections. The move has been sparked by the [...]
CMA warns taxpayers and councils face higher bills after £11bn Veolia-Suez waste management merger December 7, 2021 The £11.1bn merger between French waste and water management giants Veolia and Suez could lead to higher prices for UK councils and taxpayers, according to Britain’s competition watchdog. The Competition and Markets Authority (CMA) said the tie-up, which was announced earlier this year, could lead to a loss of competition in the supply of key [...]