Ofcom says BT merger with EE could harm other mobile firms July 19, 2015 Telecoms giant BT could be facing double trouble from the industry regulator, after Ofcom revealed concerns surrounding its proposed merger with mobile network EE. The planned £12.5bn takeover is being probed by the Competition and Markets Authority (CMA), which issued an update regarding the scope of its investigation at the end of last week. Ofcom [...]
Europe should rediscover its confidence in battling against China’s protectionism July 19, 2015 “Giving people self-confidence is by far the most important thing I can do. Because then they will act.” – former GE chief executive Jack Welch Beyond doubt, we are not living through a golden age for Europe. But just as feckless champions of the EU as a superpower have been found intellectually wanting, so [...]
Iceland boss Malcolm Walker: Which? supercomplaint over supermarket offers was “b*****ks” July 17, 2015 Iceland boss Malcolm Walker – the supermarket sector's answer to Michael O'Leary – has blasted the Which? supercomplaint over misleading deals as “bollocks”. The consumer group took a petition signed by more than 100,000 to the Competition and Markets Authority earlier this year, claiming it had found examples of “dodgy special offers” that led [...]
George Osborne ousts Martin Wheatley from FCA July 17, 2015 Martin Wheatley, the man who famously said he would "shoot first and ask questions later" as he launched the Financial Conduct Authority (FCA), has been ousted by chancellor George Osborne. Wheatley, who will leave on 12 September, jumped before he was pushed: City A.M understands he resigned after learning Osborne had decided not to [...]
China’s unravelling: Will it devalue the yuan next? July 16, 2015 China could be gearing up to join the global currency wars by devaluing the renminbi. So far this year more than 30 central banks from all over the world, including South Korea and Australia, Canada and Hungary have cut interest rates – which works to weaken their currency. Since the global financial crisis, central [...]
Ofcom communciations review: What next for BT, Openreach, Sky and the telecoms market? July 16, 2015 While Ofcom’s latest move is no doubt being celebrated as a win by BT’s more than vocal rivals, it’s by no means a foregone conclusion that BT is heading for a breakup. Last time Ofcom reviewed competition, BT was forced to create Openreach in order to give access to its broadband network to rivals, something Ofcom [...]
Competition and Markets Authority accuses supermarkets of “confusing” promotions July 16, 2015 You could say the UK's competition body has just told supermarkets to BOGOF, after the Competition and Markets Authority (CMA) accused supermarkets of "confusing" people about special offers The after a major three-month investigation, the CMA said with 40 per cent of spending on groceries going on items on offer, shoppers are still being misled [...]
Businesses are wasting money on energy – here are six ways to make your business energy-savvy July 15, 2015 Last week the Competitions and Markets Authority reported back on the fact consumers are “paying too much” for their energy bills, suggesting that customers need to help make the market be more competitive through switching suppliers on a regular basis. But 75 per cent of businesses already know that there are savings to be made [...]
Dairy Crest finds the right baby formula as project nears finish line July 14, 2015 Dairy Crest said yesterday that is was near to completing a project to make two crucial ingredients found in baby formula that it seeks to sell into the £7bn Chinese market. The Cathedral cheese-maker struck a deal with New Zealand dairy giant Fonterra last year to sell whey – the key ingredient in baby formula [...]
Greece makes further euro integration unavoidable – with big risks for the UK July 13, 2015 After months of wrangling, Eurozone leaders and the Greek government finally seem to have reached an agreement on a third bailout deal. EU politicians and the markets may breathe a sigh of relief at the prospect of some short-term stability being restored. But even if this new deal manages to stave off Grexit in the [...]