Ladbrokes Coral could be in line to table a £2bn bid for Australian betting company Tabcorp November 27, 2016 Ladbrokes Coral Group could be in line to launch a bid for Australian betting company Tabcorp, in a deal worth over £2bn. Advisers for the bid have been hired, according to reports in the Mail on Sunday. Ladbrokes Coral Group declined to comment. Tabcorp, which reported a market capitalisation of AU$3.8 (around £2.3bn) in its [...]
Compare the (annuity) market: Financial watchdog wants customers to be offered more choice November 25, 2016 The UK's financial watchdog will force annuity providers to tell customers to shop around after it found that 80 per cent of customers would get a better dealing by doing so. The Financial Conduct Authority (FCA) today revealed its own Black Friday push with plans for an "annuity comparator" to help people find out if there [...]
FCA head of strategy and competition warns of asset management “market failure” November 24, 2016 The financial watchdog’s director of strategy has branded competition within the asset management industry “a market failure”, after carrying out an interim report into its workings. Speaking at the Tax Incentivised Savings Association’s (TISA) annual conference, Chris Woolard of the Financial Conduct Authority (FCA), said: “We are for the first time proposing to use our powers [...]
Big Six beware: The government will look more closely at the UK’s energy market, chancellor Philip Hammond said in today’s Autumn Statement November 23, 2016 The government will “not be afraid to intervene” in the UK’s retail energy market if there is evidence of market failure, chancellor Philip Hammond said yesterday. “We will look carefully in the coming months at… key markets, including the retail energy market, to make sure they are functioning fairly for all consumers,” Hammond said in the [...]
Five of the Big Six energy firms have hiked their cheapest fixed-rate tariffs since September, according to uSwitch November 23, 2016 Five of the UK’s Big Six energy suppliers have hiked the price of their cheapest fixed-rate tariffs since September, according to data from uSwitch. On average, the UK’s major energy companies have increased their rates by an average of £129, around 16 per cent, driven by a rise in wholesale prices. The Big Six firms consist [...]
Chancellor Hammond must focus on the quality of infrastructure spending, not its quantity November 22, 2016 Keynes is back, or so it seems. Both left and right wing movements across the West are calling for greater government borrowing to finance infrastructure projects. In the US, Donald Trump is proposing to invest $500bn. In the UK, Labour’s John McDonnell wants an even more lavish £500bn programme, equivalent to around a quarter of [...]
Now is the time for the government to intervene on energy prices and override the Big Six firms November 22, 2016 This winter it is imperative that something is done to fix our broken energy market. Seven out of 10 households are still on the highest priced deals, paying some £300 more than they should – and too many of these are the most vulnerable in our society. The Competition and Markets Authority investigation report, published [...]
Bunzl ploughs on with its international acquisitive expansion November 22, 2016 Outsourcing giant Bunzl showed no signs of stopping its spending spree as it announced two further acquisitions today. French first aid product making firms Prorisk and GM Equipement and Saebe Compagniet, a Danish distributor of cleaning and hygiene related products, will be absorbed into FTSE 100 group. Although transaction values were not revealed, the firms generate in the region of [...]
Four ways the City watchdog wants to make fund managers better for investors November 18, 2016 The City watchdog has this morning put forward plans for a shake-up of the £7 trillion asset management industry to ensure investors get a better deal. The Financial Conduct Authority (FCA), publishing the interim findings of its market study, found weak price competition in some areas, a lack of transparency, potential conflicts of interest and sustained profitability [...]
A third of working families struggling to pay energy bills despite three-year price freeze, uSwitch finds November 17, 2016 Almost 4m households, or one in three working families, are already struggling to pay their energy bills this winter despite there being no major price hikes for three years, according to new research. Half of working families are planning to cut their energy use this winter so they can afford their bills, energy price comparison [...]