Rentokil set to continue acquisition spree while organic growth continues April 18, 2019 Pest control expert Rentokil Initial said this morning it is planning to continue an acquisition-heavy strategy and is likely to spend between £200m and £250m on takeovers this year. The firm showed 4.9 per cent growth from takeovers in the first three months of the year, while organic revenue grew at four per cent. Read [...]
Business lobby groups slam competition watchdog’s calls for radical audit reform April 18, 2019 Business lobby group the CBI said reforms to the audit sector proposed today by the competition watchdog could “undermine confidence in corporate Britain”. The Competition and Markets Authority (CMA) today called for the Big Four accountancy firm’s audit arms to be split from their non-audit arms with separate profit pool and management in a major [...]
Competition watchdog warns holiday booking sites over trip cancellation costs April 17, 2019 The UK’s competition watchdog has issued a warning to holiday booking websites to make customer terms and conditions clear. A total of one in five customers who had cancelled a booking in the past felt they had been treated unfairly, a Competition and Markets Authority (CMA) survey found, as the regulator told travel businesses to [...]
Brexit to place ‘considerable demands’ on City watchdog the FCA April 17, 2019 Brexit will continue to place “considerable demands” on the City watchdog, it said today as the regulator unveiled its plan for the coming year. The Financial Conduct Authority (FCA) unveiled its business plan for 2019-20 and said Britain’s departure from the EU would continue to dominate its attention. Read more: Government provides £200m for small [...]
Amazon hit with thousands of fake five-star reviews, research finds April 16, 2019 Thousands of suspicious and unverified reviews have cropped up on Amazon for five-star rated tech products from unheard of brands. The reviews were often posted on the same day or in the same short period of time, according to consumer magazine Which, with identical reviews left for the same product on Amazon and in some [...]
Major companies could be exempt from joint audit rules in competition watchdog report April 14, 2019 The UK’s competition watchdog reportedly could exclude some major companies from a new rule that would require many business to appoint joint auditors. Sky News reported that the Competition and Markets Authority (CMA) is set to publish its long awaited report into the audit sector this week. According to the report, the CMA has been [...]
Competition watchdog expresses concern over Rentokil and Mitie merger April 12, 2019 The UK's Competition and Markets Authority (CMA) has warned Rentokil Initial it may have to investigate the company after its completed takeover of Mitie's pest control arm has severely reduced competition in the sector. The competition watchdog has given Rentokil a deadline of April 23 to outline how it will address concerns that prices could [...]
Competition regulator accuses Casio of preventing price discounts April 11, 2019 Britain's competition watchdog has accused electronics giant Casio of illegally preventing price discounts today. Casio was provisionally found to have broken competition law by "restricting retailer freedom to discount online" by the Competition and Markets Authority (CMA) this morning. The Competition and Markets Authority (CMA) has issued a statement of objections to Casio Electronics which, as [...]
Home insurers make 100 per cent of profits from loyal customers April 10, 2019 Home insurance companies make 100 per cent of their profits from penalising loyal customers, new research shows. A study published today by Citizens Advice found home insurers make all their profits – amounting to over £1bn a year – from loyal customers holding policies for six years or more. The research showed that loyal customers [...]
Reforming audit will not be easy, but the latest report might be a place to start April 9, 2019 Sir Winston Churchill’s 1942 speech about the second battle of El Alamein contained one of his most famous quotes. It was not, he said, the end – nor even the beginning of the end – but it was perhaps the end of the beginning. One could be forgiven for harbouring similar feelings about the long [...]