Facebook loses appeal over investigation into Giphy takeover May 13, 2021 Facebook has lost an appeal over the regulatory probe into its acquisition of Giphy. The social media giant announced plans to buy Giphy last May but the Competition and Markets Authority (CMA) then said it was looking into whether it could cause a “substantial lessening of competition in any market or markets in the United [...]
Competition watchdog warns travel firms over summer holiday refunds May 13, 2021 The UK’s competition watchdog has today warned package holiday firms that they will be in breach of the law if they do not give passengers refunds if holidays are cancelled this summer due to the pandemic. Last summer the Competition and Markets Authority (CMA) received thousands of complaints from frustrated holidaymakers who were unable to [...]
Issa brothers offer to sell 27 petrol stations to resolve Asda takeover competition dispute May 5, 2021 The Issa brothers, the billionaire businessmen who recently bought Asda, have agreed to sell 27 of their EG Group petrol stations to resolve a competition dispute related to the takeover. Last month the Competition and Markets Authority launched an investigation into the Issa brothers and TDR Capital’s takeover of the supermarket, saying the deal raises [...]
Joachim Klement, CFA: Three Geo-Economics trends to watch May 4, 2021 “Today’s investors need to understand geopolitical trends as a main driving force of markets.” Joachim Klement, CFA Joachim Klement, CFA, has emerged over the last decade as one of the more insightful and compelling voices in finance. Well-reasoned, rigorous, humorous, and occasionally iconoclastic, his perspective, featured either on the Enterprising Investor Blog or on his [...]
FCA looks into high risk investment promotion amid Bitcoin boom and TikTok ‘finfluencer’ trend April 29, 2021 The City regulator is looking for views on how to tackle the issue of high-risk investment promotions, fearing too many consumers are unwittingly taking too much risk with their money. The Financial Conduct Authority (FCA) is concerned consumers are investing in inappropriate, high-risk investments that are unsuitable for most people. The watchdog has recently warned [...]
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 [...]