Margrethe Vestager stays on in beefed up EU competition role in blow for tech giants September 10, 2019 Margrethe Vestager has retained her role as EU competition commissioner in a blow for Silicon Valley tech giants. Vestager, known for her formidable crackdown on tech firms, has also been appointed executive vice president tasked with making Europe “fit for the digital age”. Read more: EU antitrust chief Margrethe Vestager signals decision on Google Adsense [...]
Competition watchdog suspends legal action against ticket reseller Viagogo September 5, 2019 The competition watchdog has suspended court action against Viagogo, saying the ticket resale site had addressed its concerns about how key information was presented to customers. The Competition and Markets Authority (CMA) had launched legal proceedings against Viagogo for contempt of court after the firm allegedly failed to comply with an earlier court order. Read [...]
Advertising watchdog ramps up pressure over influencer marketing transparency September 5, 2019 The advertising watchdog has ramped up its calls for clear labelling of social media adverts amid concerns users still struggle to identify sponsored posts. In a report published today, the Advertising Standards Authority (ASA) said its findings dispelled any arguments that clear labelling was not needed and re-emphasised the importance of influencers being clear and [...]
Ten things every investor needs to know about offshore wind power September 5, 2019 The solar and onshore wind industries have long been areas of focus for climate change investors, but offshore wind has always lagged behind because of its higher cost. However, that is set to change, with substantial growth likely in the sector over the coming years, as offshore wind approaches cost competitiveness with conventional electricity generation. [...]
Does Hargreaves Lansdown’s strategy cause too much money to pour into too few funds? August 28, 2019 Given that diversification is one of the most important principles of investing, we should question why the UK’s largest investment platform Hargreaves Lansdown doesn’t seem to be following this basic idea. This became apparent in the wake of the scandal around Britain’s most famous fund manager, as £1.6bn was funnelled into Neil Woodford’s still-suspended fund [...]
Consumer group warns shoppers could be ripped off by supermarket deals August 28, 2019 Shoppers are at risk of being ripped off, a consumer watchdog has warned, after an investigation uncovered misleading discounts and special offers at major UK supermarkets. The probe revealed that some supermarkets offer multi-buy deals that cost more, discounts that refer to a price that is not the most recent and offers in which items [...]
Deloitte boosts partner pay as profits jump August 27, 2019 Deloitte partners are in line for a pay hike this year, despite the current controversy surrounding the future of the Big Four accounting firms. Average profit per equity partner rose six per cent to £882,000 for the year ended 31 May. Profit available for distribution rose to £617m, up from £584m in the prior year. Deloitte [...]
RBS and Santander rapped over PPI reminders August 23, 2019 Santander and the Ryal Bank of Scotland apologised to customers today as the UK’s competition watchdog scolded them for not properly reminding PPI customers they were able to cancel their plan. The Competition and Markets Authority (CMA) said it will force the two banks to appoint independent auditors to scour through their payment protection insurance [...]
Rentokil buyout of Mitie pest control business given green light by regulator August 22, 2019 Rentokil’s bid to hive off parts of its newly-acquired pest control business from Mitie so as to assuage competition concerns has been accepted by regulators. The Competition and Markets Authority (CMA) has given the deal its blessing, as long as Rentokil sells the majority of the majority of the business that used to be called [...]
Energy group Wood to sell nuclear arm for £250m August 20, 2019 British energy services firm Wood is to sell its nuclear business for about £250m ($301m) to a subsidiary of US company Jacobs in a drive to reduce its debt. Read more: EDF seeks guarantee for nuclear project The firm made the announcement as it released its half-year results, which showed a rise in pre-tax profit [...]