Google gets the green light for $2.6bn Looker acquisition February 13, 2020 Google today completed its $2.6bn (£2bn) acquisition of analytics firm Looker after the deal was approved by the competition watchdog. The Competition and Markets Authority (CMA) opened an investigation into the merger in December amid concerns it could damage competition in the UK’s cloud computing market. However the regulator today said it had cleared the [...]
Takeaway.com looks ahead to Just Eat after rise in revenue February 13, 2020 Takeaway.com saw a sharp rise in revenue prior to its merger with UK peer Just Eat. The figures Takeaway processed 159.2m orders in 2019, representing a 70 per cent compared with the year before. The average commission rate increased to 12.6 per cent in 2019 from 12.1 per cent in 2018, mainly driven by an [...]
JD Sports may have to sell off Footasylum, says CMA February 11, 2020 Shoppers could be worse off online and in store if JD Sports’ acquisition of Footasylum goes ahead, the UK’s competition watchdog found today. The Competition and Markets Authority (CMA) warned the merger could lead to fewer discounts and worse customer service, as well as less choice in its preliminary ruling. “We’re currently concerned that shoppers [...]
Competition watchdog tells Viagogo and Stubhub to pause merger February 10, 2020 The UK’s competition watchdog has told ticket resale websites Viagogo and Ebay’s Stubhub to pause any integration of the two businesses while it probes their $4.1bn (£3.2bn) merger. In an enforcement order published today, the Competition and Markets Authority (CMA) banned the two firms from taking any action which might “lead to the integration of [...]
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 [...]