Facebook unveils $100m support package for news industry March 30, 2020 Facebook today said it will invest $100m (£80.6m) to support the news industry as the coronavirus crisis decimates advertising revenue. The social media firm said $25m will be given as emergency grant funding for local news through the Facebook Journalism Project, while $75m will be granted as additional marketing spend for news organisations around the [...]
Coronavirus: UK airlines ask government to waive regulatory charges March 25, 2020 The UK’s airlines have again called for the government to implement rescue measures to protect the industry against the impact of coronavirus, which has decimated the sector. The plea comes despite chancellor Rishi Sunak yesterday telling firms that state aid would only be considered as a “last resort” after they had exhausted other means of [...]
Daily Mail gets green light for £50m takeover of the i newspaper March 25, 2020 The owner of the Daily Mail has been given the green light for its £50m takeover of the i newspaper. Daily Mail and General Trust, which also owns Metro, agreed the deal in November last year with the i’s current owner JPI Media. The government said it was “minded” to intervene in the merger due [...]
PM warns Mike Ashley – obey the rules or face the consequences March 25, 2020 Prime Minister Boris Johnson has warned Sports Direct boss Mike Ashley to “obey the rules or to expect the consequences”, after the retailing heavyweight insisted staff must continue working during the coronavirus outbreak. During a bumper PMQs, Johnson was repeatedly asked about the situation facing workers, particularly self-employed, who currently have no additional support beyond [...]
Amazon and Ebay blasted over failure to crack down on virus profiteers March 25, 2020 Amazon and Ebay are failing to clamp down on coronavirus profiteers using their platforms to sell products at “ridiculous” prices, a new investigation has revealed. Third-party sellers have been accused of exploiting the pandemic to ramp up prices for products that are difficult or impossible to find in local shops. Household items including cleaning products, [...]
Adbreaks during an outbreak: How to advertise during coronavirus lockdown March 23, 2020 After a week in which the coronavirus outbreak has turned life on its head for everyone in the UK, companies are having to learn quickly about how best to operate over the coming months. Some, like toilet roll manufacturers, find themselves in prime position to both help society and make huge steps forward commercially from [...]
CMA launches coronavirus taskforce to stamp down on over-pricing March 20, 2020 The Competition and Markets Authority (CMA) has launched a taskforce to prevent businesses from taking advantage of shoppers during the UK coronavirus outbreak. The UK competition watchdog warned the outbreak has “prompted many concerns that businesses might exploit the situacion to take advantage of people”. Amid stockpiling of food and toilet roll across the UK, [...]
British startups slam competition watchdog over ‘power grab’ March 19, 2020 British startups have accused the competition watchdog of mounting an “old-fashioned power grab” after it called for beefed up powers to crack down on tech firms. In its annual report published today, the Competition and Markets Authority (CMA) said there was evidence of “growing market concentration and rising profit margins” in several sectors of the [...]
Apple fined $1.2bn by French antitrust authorities March 16, 2020 US technology giant Apple has been fined $1.2bn (£958m) by antitrust authorities in France. This is one of the largest fines the body has ever handed down. Two French wholesalers were also fined for running the cartel with Apple which exploited the company’s dependence on re-sellers. Tech Data and Ingram Micro received fines of 76.1 [...]
CMA says Future’s acquisition of TI Media does not raise competition concerns March 16, 2020 The Competition and Markets Authority (CMA) has approved Future’s acquisition of TI Media, saying it “does not raise competition concerns”. In October 2019, the publisher said it planned to acquire magazine printer TI Media, which owns popular titles Country Life and Marie Claire, for £140m in cash. After completing its initial investigation, the CMA found that [...]