EU opens antitrust cases against Apple over App Store and Apple Pay June 16, 2020 The European Commission today launched two new antitrust cases against Apple, bolstering its fight against market dominance in the technology sector. The first investigation will explore whether Apple’s practice of charging a 30 per cent commission fee on sales and subscriptions made via its App Store is anti-competitive, following complaints by Spotify and Rakuten. Spotify’s [...]
Competition watchdog to investigate Facebook’s Giphy acquisition June 12, 2020 The Competition and Markets Authority (CMA) has today begun an investigation into the completed acquisition of Giphy by Facebook. An initial enforcement order was sent earlier this week as the CMA conducts an inquiry into whether the merger of Facebook and Giphy will “result in a substantial lessening of competition within any market or markets [...]
Competition watchdog cranks up pressure on Viagogo’s $4bn takeover of Stubhub June 11, 2020 Britain’s competition watchdog has ramped up its probe into Viagogo’s proposed $4bn (£3.2bn) takeover of rival ticketing website Stubhub. The Competition and Markets Authority said it was concerned the deal would drive up prices and reduce choice for buyers. This is in part because of the two companies’ already dominant position in the ticket resale [...]
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 [...]