Review of banker bonus cap not top of the agenda, says BoE official April 26, 2021 A review of the cap on bankers bonuses is not top of the Bank of England’s priority list, according to an official. Now the UK is out of the EU it is free to set its own regulatory agenda on financial services. It has previously been reported the Treasury is considering scrapping the cap entirely [...]
Why every company needs to know about the UK trade remedies regime April 26, 2021 Are all tariffs equal? Not when it comes to trade remedies and that matters for businesses who are navigating the UK’s new independent trade policy. Getting caught out with a large duty payment at the border when trying to import bicycles from China or biodiesel from Argentina is not something that any business wants. To [...]
Why the going is about to get tougher for investing in climate change April 23, 2021 2020 was an extraordinary year for climate change action. Public opinion, governments, businesses and financial markets all had major shifts in their appreciation of the urgent need to address the climate crisis. More investment, research and development, and international collaboration will now come together to enable a faster transition to a net zero economy. While [...]
Law firms are at risk of falling behind in the race for innovation April 23, 2021 “Move fast and break things” is one of the better known corporate mantras. The company which coined it – Facebook – has achieved incredible growth in living by it. It is not the only way for businesses and industries to grow. The legal services industry, worth $650bn globally, continues to grow at 4 to 6 [...]
EU financial services czar warns City that Brussels won’t bend on rule-taking demands April 22, 2021 The EU is in “no rush” to grant the City of London renewed access to its financial markets post-Brexit, according to a senior Brussels official. Mairead McGuinness, the European Commissioner for financial services, said today that Brussels will “not be recreating access to the single market for the UK as they have chosen to move [...]
The government is cautious about crypto – but I think we’ll get there April 21, 2021 Lord Holmes of Richmond reflects on hundreds of hours of debate over the Financial Services Bill passed in the House of Lords.
Daily Mail files competition lawsuit against Google over royal coverage April 20, 2021 The Daily Mail has filed an antitrust lawsuit against Google over allegations the tech giant unfairly manipulated its rankings in search results. In the suit filed in Manhattan federal court, the newspaper’s parent company accused Google of punishing publishers’ search rankings if they do not sell enough advertising space through Google’s marketplace. The Daily Mail’s [...]
Explainer: Why has the UK intervened in Nvidia’s $40bn Arm merger? April 20, 2021 Ever since it was announced in September last year, Nvidia’s proposed $40bn (£30bn) takeover of British chipmaker Arm has proved controversial. Critics including rival tech firms and former Arm executives were quick to hit out at the deal, warning of a negative impact for Britain and the semiconductor industry more widely. Yesterday the government made [...]
Issa brothers’ Asda takeover hits roadblock as watchdog probes petrol station competition concerns April 20, 2021 The UK’s competition watchdog has launched an investigation into the acquisition of Asda by the Issa brothers and TDR Capital over concerns that it could drive up petrol prices. The companies have said they will work with the Competition and Markets Authority (CMA) to find a resolution within the first stage of the probe. The [...]
CMA teams up with Australian and German authorities to tackle problematic mergers April 20, 2021 The Competition and Markets Authority (CMA) has teamed up with its Australian and German counterparts to better enforce mergers, with healthy competition crucial to post-pandemic economic growth. The CMA, the Australian Competition and Consumer Commission (ACCC) and Germany’s Bundeskartellamt have signed up to a statement which said that “without strong merger control regimes, there is a [...]