What’s happened to GBP/EUR this week? February 7, 2020 Sterling was on the back foot at the beginning of this week, but that wasn’t the whole story… After a positive end to last week thanks to the Bank of England holding interest rates, sterling was on the back foot at the beginning of this week due to the Prime Minister’s comments about the Brexit [...]
What’s the easiest way to send funds back to the UK? February 7, 2020 Home is where the heart is, which is why many expats choose to send money back to the UK even with a new life abroad. There are many reasons why you may need to repatriate funds, such as property maintenance, pension payments, or helping out with school fees. It might be that after enjoying the [...]
Nationwide to refund customers £900,000 for overdraft text failures February 6, 2020 Nationwide will repay £900,000 to customers after it failed to correctly warn them that they would be charged for entering an unarranged overdraft. The move follows an investigation by the Competition and Markets Authority (CMA), which ruled that the building society fell foul of rules stating customers with personal current accounts must receive a text [...]
Ministers commission review of markets competition February 5, 2020 Ministers have launched a review into the effectiveness of competition in the British economy. Chancellor Sajid Javid and business secretary Andrea Leadsom have commissioned the Competition and Markets Authority (CMA) to provide evidence on areas where competition is failing. In a letter to the competition regulator’s chief executive Andrea Coscelli, the ministers said the current [...]
CMA opens probe into Flutter’s £10bn Stars Group betting merger February 5, 2020 The UK’s competition watchdog is set to open an investigation into a planned £10bn gambling merger between Flutter and the Stars Group. The Competition and Markets Authority (CMA) will probe whether the tie-up between Paddy power and Betfair owner Flutter and Toronto-based Stars will hurt competition. The CMA is considering whether it is or may [...]
The UK’s unrivalled regulatory framework is at the heart of our success as a finance hub February 4, 2020 Britain has officially progressed into the next chapter of growth, and can begin negotiations to achieve the trading partnerships and relationships that will secure our competitive future. Having spent several years in the City myself and now as MP for Hitchin and Harpenden, a constituency with thousands working in financial services, this sector remains one [...]
Combined Just Eat and Takeaway.com shares start trading February 3, 2020 The combined shares of Just Eat and Takeaway.com began trading this morning, despite a competition watchdog probe into the merger. Just Eat’s shares were suspended this morning and the merged company Just Eat Takeaway.com began trading on the London Stock Exchange under the ticker Jet. However, a full integration of the two takeaway platforms is [...]
Boris Johnson says Brexit deal must be ‘predictable’ for the City February 3, 2020 Prime Minister Boris Johnson has sought to reassure the City about a post-Brexit trade deal with the European Union, saying it should provide a “predictable, transparent and business-friendly” environment for financial services firms. In a written statement to parliament, the PM also said there should be “obligations on market access and fair competition”. The statement [...]
UK competition watchdog to push for tighter controls on US tech giants February 3, 2020 The UK’s competition watchdog will push for tougher powers to regulate companies such as Google and Facebook following the UK’s official departure from the EU, and will pursue antitrust investigations against tech giants independently of the bloc. “The upside [Brexit] is that you take back control — genuinely — of the decisions,” Competition and Markets [...]
Future shares boosted after short-seller launches attack February 3, 2020 Publishing group Future saw its shares rise seven per cent this morning, just days after the firm came under attack from a short-seller over the price of its stock. In a trading update, the media group, which publishes specialist trade magazines, said it had continued to grow audience numbers and had seen strong revenue growth. [...]