“DO sweat the small stuff”: how ESG missteps impact future performance July 21, 2021 We’ve written extensively on our concept of “corporate karma” – the idea that what goes around, comes around with regard to how companies treat their stakeholders. Since the start of the pandemic, we’ve written about our belief that a new social contract is emerging, particularly in relation to how employers treat their employees, and we’ve shown how it’s [...]
Government proposes to make fake online reviews illegal July 20, 2021 The government has outlined plans to crack down on fake online reviews. Businesses that offer subscriptions would be required to detail exactly what a consumer signs up for. They should also allow them to cancel easily. Consumer champion ”Which?” said the plans should be ”swiftly implemented” ”Which?” director of policy and advocacy Rocio Concha, said [...]
Fake reviews could be outlawed in consumer protection overhaul July 20, 2021 Paying for someone to write or host fake reviews online could be made illegal under new plans to ramp up protection for consumers. The government has unveiled proposals to crack down on fake reviews as part of a wider package of measures targeting “consumer catfishers” who use dodgy tactics to dupe online shoppers. It has [...]
China places state investigators in Didi’s offices to conduct security probe July 16, 2021 Beijing’s heavyweight state spy industry and six other government departments have swooped on ride-hailing app Didi Chuxing’s offices to conduct a security investigation. The bold move comes after Chinese authorities opened an investigation into Didi for allegedly violating user privacy, just days after its $4.4bn listing in New York last month. As of yet, there [...]
Joe Biden’s executive order smoothing a transition to open-banking should inspire UK competition and innovation July 16, 2021 President Biden won a lot of praise when he issued a slew of consumer-friendly executive orders last week. One of them could have an impact here, an ocean away from the US consumers who’ll feel the direct benefit. The order aims to make it easier for US customers to access and share their banking data. [...]
CMA slaps pharma firms with £260m in fines for hiking prices for NHS July 15, 2021 The UK’s competition watchdog has slapped drug companies with fines totalling more than £260m for hiking prices for the NHS. The Competition and Markets Authority (CMA) said prices of “life-saving” hydrocortisone tablets had risen by over 10,000 per cent. The price hike equated to the NHS being charged £80 for a single pack of tablets [...]
MPs call for probe into record labels amid music streaming overhaul July 15, 2021 MPs have urged regulators to probe major UK record labels and Youtube as part of a radical overhaul of the music streaming market aimed at tackling “pitiful returns” for artists. In an eagerly-awaiting report published today, the culture select committee called for comprehensive reform to existing legislation as well as new regulations to “reset” the [...]
CMA green light: £28bn AstraZeneca and Alexion deal to close late July July 14, 2021 The UK competition watchdog has cleared vaccine maker AstraZeneca’s £28bn bid for rival Alexion, which has been confirmed to close on 21 July. First announced in December last year, the deal is intended to bolster AstraZeneca’s immunology capabilities by adding Alexion’s technology platforms. European Union regulators gave the deal the green light last week. Despite [...]
Global banking powerhouses await forex class action ruling July 12, 2021 A London court this week will rule whether a multi-billion-pound class action filed against the world’s largest banks over accusations of foreign exchange rigging can proceed. Barclays, NatWest, UBS, Citigroup, JPMorgan and MUFG Bank are waiting to see whether they will face the first forex class action in the UK after the five-day hearing kicked [...]
Screenshot: Should the UK tech sector really be cashing in its chips? July 9, 2021 This week **Media Moment of the Week: Tesco’s football fail **Should the UK tech sector really be cashing in its chips? **A Wise move Media Moment of the Week: Tesco’s football fail Once again the internet was awash with football this week, and plenty of brands decided to jump on the England bandwagon for a [...]