Fiat-PSA mega-merger faces months-long competition probe June 11, 2020 The $50bn mega-merger between car giants Fiat Chrysler and Peugeot owner PSA is facing a four-month competition probe from European antitrust officials after the companies failed to provide requested concessions. Over the weekend it emerged that the two firms had been warned by the European Union over their combined high market share in small vans. [...]
French government presents €15bn aid package to save aviation sector June 9, 2020 The French government has this morning unveiled a €15bn (£13.3bn) plan to save its aerospace industry, saying that 100,000 jobs are at risk due to the coronavirus crisis. The rescue package, which includes pre-announced measures such as a €7bn loan to flag carrier Air France, comes amid the worst aviation downturn in history. New measures [...]
A pro-growth vision for the UK economy June 5, 2020 The UK needs a pro-growth economic policy. That is one of the key lessons likely to arise from this crisis. It is also the central message of a new report that I have co-authored for the think tank Policy Exchange. The pro-growth strategy should be based on three arrows: credible fiscal activism, monetary and financial [...]
Clean technologies and climate policy: the global financial crisis and Covid-19 June 3, 2020 A lot has changed for clean technologies since the global crisis in 2008. As investors in climate change, this is hugely encouraging. It is striking just how much has changed for clean technologies and climate policy between the financial crisis in 2008 and the one we face today. As climate change investors, this gives us [...]
Social media influencers attract a quarter of online ad complaints June 3, 2020 Influencers were responsible for a quarter of all complaints about online adverts last year amid a crackdown on brand promotions on social media. The Advertising Standards Authority (ASA) received more than 4,400 complaints last year about 3,670 ads that used social media influencers. The figure represents more than a quarter of all complaints for online [...]
The EU must dump the idea of EU dumping June 1, 2020 Michel Barnier is refusing to negotiate with the UK on the future trading relationship until the UK agrees to the EU’s idea of a ‘level playing field’. One of the key issues concerning the EU is ‘dumping’. It is worried that the UK will become a super-competitive, de-regulated ‘Singapore-on-Thames’ that undercuts the prices of products [...]
Competition watchdog secures £47m in overdraft refunds from major banks May 28, 2020 The Competition and Markets Authority (CMA) has secured £47m in refunds for consumers from banks which failed to properly warn them about overdraft charges in the last two years. Customers with personal current accounts must receive a text alert warning of fees before banks charge them for an unarranged overdraft. Today, the CMA announced that [...]
Closing the backdoor to EU dumping May 25, 2020 Full sovereignty is fundamental to the UK’s success in the post-Brexit future. For it to be achieved a number of loose ends left by the Brexit withdrawal process must be tied up. This should now be a priority for the future trade deal, so the UK can ensure UK citizens and businesses can compete fairly [...]
Stelios accuses Easyjet of ‘voting fraud’ after failing to oust management May 22, 2020 Easyjet founder Sir Stelios Haji-Ioannou accused the airline of “voting fraud” today after his attempt to oust key management figures was defeated. Haji-Ioannou launched the attempt to remove the management team after a row over Easyjet’s continuation of a deal to buy 107 Airbus planes for £4.5bn which Haji-Ioannou says puts the future of the [...]
Competition watchdog launches investigation into fake online reviews May 22, 2020 The competition watchdog has opened an investigation into several major websites over whether they are doing enough to protect shoppers from fake and misleading reviews. The Competition and Markets Authority (CMA) said it will probe how the sites detect, investigate and respond to issues such as suspicious reviews — for example where one user has [...]