TalkTalk reveals plans to scrap separate line rental charge in UK industry first May 3, 2016 TalkTalk, the telecoms company that was last year the victim of a high profile data leak, has announced it will soon stop separating out line rental from broadband prices. The move, which will come into force in the Autumn this year, comes ahead of a crack down by the Advertising Standards Authority (ASA) on price transparency this week. The fiercely competitive [...]
Low oil prices pushes Saudi Arabia into economic reform – Prince Salman declares an end to reliance on oil and outlines Vision 2030 plan to diversify the economy April 27, 2016 Saudi Arabia is to kick its “dangerous addiction” to oil as the country's cabinet agreed on plans to diversify the economy away from the black stuff. The country is hooked on fossil fuels but “by 2020 we'll be able to live without oil,” said deputy crown prince Mohammed bin Salman, author behind new economic plan, Saudi [...]
City Moves for 27 March 2016 | Who’s switching jobs April 27, 2016 Saxo Bank Saxo Bank, the trading and investment specialist, has appointed Jeff Zorek as chief operating officer of global sales based in London and reporting to Matteo Cassina, global head of sales. Jeff joins Saxo with over 30 years of financial services experience, managing businesses in securities trading, high-speed electronic execution, risk management, clearance, settlement and [...]
Supermarkets brace for fresh CMA criticism in latest phase of pricing super-complaint investigation April 26, 2016 The competition watchdog is expected to crack down on pricing in the UK’s supermarkets tomorrow morning. The Competition and Markets Authority (CMA) is set to publish the latest phase of its response to a so-called super-complaint raised last year about predatory pricing tactics by major grocers. Earlier it was reported by Sky News that Asda has been [...]
Finance actually wants more regulation because of the rise of artificial intelligence fintech in the world’s markets April 25, 2016 The finance world is cautiously optimistic about the future of artificial intelligence and how it can be used, but, there is more work needed on regulating the technology when it comes to world markets. “Financial institutions have been fined billions of dollars because of illegality and compliance breaches by traders. A logical response by banks is to [...]
Ladbrokes’ non-executive director Richard Moross will step down from board in May April 25, 2016 Ladbrokes' non-executive director, Richard Moross, has announced he will step down from the betting giant's board of directors at this year's annual general meeting (AGM). Moross will cease to be a director from 5 May. He joined the board in 2012 and has decided to step down so that he can devote "more time to his [...]
Estate agent wars: Why OnTheMarket is here to stay, even after the CMA warning April 25, 2016 You may have read last week about the open letter from the Competition and Markets Authority (CMA) to estate agents to remind them about their obligations under competition law when choosing online property portals to advertise their properties. The CMA has been very clear in cautioning agents to act independently and not to collude. At OnTheMarket.com, we welcome [...]
Profits slip but revenues rise, as Sportingbet owners GVC Holdings takes a punt on Bwin April 25, 2016 Shareholders dismissed falling profits at gambling giant GVC Holdings this morning – despite a 39 per cent slide in profits off the back of GVC's acquisition of Bwin. The figures Net gaming revenue – income on punters' wagers minus payouts – climbed by 10 per cent to €248m (£193m) in the year to the end of December. The total amount [...]
Greater sovereignty or smaller budgets: With polls tight ahead of the EU referendum, what would Brexit mean for the marketing and advertising industries? April 25, 2016 On 23 June, adland will have a tough decision to make – whether to be at a party in Cannes or a polling booth in Britain. It is hard to assess the impact Brexit would have on the marketing and advertising industry, and its outlook on the issue is predictably varied. Firms differ in size, [...]
Steel crisis: Government in talks with European Commission to avoid state aid clash April 24, 2016 The government is in talks with European competition regulators to avoid breaching state aid rules that could hold up attempts to rescue the UK's steel industry. The Department for Business, Innovation and Skills (BIS) announced last Thursday it would be willing to take a 25 per cent stake in Tata Steel's UK assets and offer "hundreds [...]