UK watchdog ramps up pressure on tech giants as it sets one-year ultimatum October 19, 2020 The UK competition watchdog has urged the government to step up plans for a new digital regulator as it warned it is preparing to take action against tech giants such as Facebook and Google. Andrea Coscelli, chief executive of the Competition and Markets Authority (CMA), said his organisation was “actively considering” potential enforcement cases in [...]
Instagram vows to tackle hidden celebrity ads after watchdog probe October 16, 2020 Instagram has pledged to do more to prevent hidden advertising on its website and app amid concerns that influencers are failing to make it clear when they have been paid to promote products. The Competition and Markets Authority (CMA) launched an investigation into Instagram over its failure to tackle the problem of hidden advertising. Facebook, [...]
Introducing MiCA: Europe’s proposed cryptoasset laws, explained October 16, 2020 As the European Commission launched its long-awaited Digital Finance Strategy in late September, a senior official announced: “The future of finance is digital”. The Commission sees digital finance as a weapon in its arsenal as it seeks to relaunch and modernise the European economy to recover from the Covid-19 pandemic, and the Strategy sets out [...]
Q&A: Trading Cryptos as CFDs October 12, 2020 What are the different options when trading cryptocurrencies? There are a couple of different options for trading cryptos. You can buy the physical cryptocurrency with a provider that usually gives you an online wallet which you must learn to use to store your crypto. More recently trading platforms have emerged, but these remain unregulated in [...]
Exclusive: Lord Mandelson urges UK to block ‘short-sighted’ Arm takeover October 9, 2020 Lord Peter Mandelson has called on the UK to block the planned $40bn takeover of British chipmaker Arm by Nvidia, describing the deal as “short-sighted” and “completely anti-competitive”. The former business secretary told City A.M. that the acquisition was a “direct threat to our security of supply and sovereignty in the UK and Europe”. US [...]
Marston’s and Carlsberg get green light for £780m brewing JV October 9, 2020 Brewers Marston’s and Carlsberg have been given the go-ahead to complete a £780m joint venture after a Competition and Markets Authority (CMA) investigation. Shares in London-listed Marston’s rose 16.7 per cent as markets cheered the decision. The UK’s competition watchdog said that as the two firms had different areas of focus, competition between the two [...]
Competition watchdog requests probe into Virgin-O2 merger October 8, 2020 The UK competition watchdog has asked the EU to refer the planned tie-up between O2 and Virgin for a full investigation in Britain. O2’s owner Telefonica in May confirmed plans for a £31bn mega-merger with Virgin Media, owned by Liberty Global. The proposed deal falls under the remit of the European Commission to review, but [...]
FCA bans sales of crypto-derivatives to retail consumers October 6, 2020 The Financial Conduct Authority has announced rules banning the sale of derivatives related to certain types of crypto-assets to retail consumers. The ban will affect the sale, marketing and distribution of any derivatives – including contracts for difference, options and futures – as well as exchange traded notes that relate to unregulated cryptoassets. Read more: [...]
Deliveroo appoints Goldman Sachs to oversee London float October 5, 2020 Deliveroo has appointed Goldman Sachs to oversee its long-awaited London flotation, according to reports, in a move that would value the UK food delivery company at more than £2bn. The Amazon-backed startup is expected to debut on the London stock market next year following discussions with the investment banking firm, Sky News reported. Deliveroo declined [...]
Crowdfunding platforms Seedrs and Crowdcube announce plans to merge October 5, 2020 Crowdfunding platforms Seedrs and Crowdcube have announced plans to merge, creating one of the world’s biggest private equity marketplaces. In a statement this morning the companies said the deal would create a “more robust” firm, allowing it to help fund more businesses. Crowdcube will acquire all of the outstanding share capital of Seedrs, with existing [...]