Beware, Sid – Lloyds sale could be tricky April 19, 2015 A big retail offering of Lloyds shares is on the cards. Large-scale privatisation is back. David Cameron is promising a £4bn sale of Lloyds shares to retail customers, swapping one big government shareholder for thousands of individuals. An instant comparison is with the 1980s. Giant firms like BT, BP and British Gas were taken out [...]
Why robust regulation of retail trading is a competitive advantage April 19, 2015 Since the financial crisis, regulation has been debated extensively; as financial markets have become more accessible to retail consumers, protecting them has never been more important. The decision by the Swiss National Bank to remove the cap on euro-Swiss franc in January 2015 caused turmoil in currency markets, and given the impact this had on [...]
Barclays U-turn on account fees: Bank will pay customers £4 a month as competition hots up April 14, 2015 Barclays will offer to pay current account customers from next week, intensifying the battle sweeping the high street since the seven-day switching service made it easier to move banks 18 months ago. The bank has been losing customers to rivals through the seven-day service, as other lenders have won clients by offering financial rewards. Barclays’ [...]
Poundland eyes extension over 99p Stores deal probe April 14, 2015 Poundland is expected to ask for an extension tomorrow over its decision on whether to walk away from its £55m tie-up with 99p Stores or proceed with a full-scale probe by the competition watchdog. The Competition and Markets Authority (CMA) said last week that it had concerns over 92 areas where it believes there could [...]
Poundland faces competition probe over 99p Stores tie-up April 9, 2015 POUNDLAND’S offer to buy rival 99p Stores for £55m is facing an in-depth investigation by the competition watchdog, amid concerns reduced competition will lead to fewer promotions and store closures. The Competition and Markets Authority (CMA) warned that it could launch a 24-week in-depth probe unless Poundland “offers acceptable undertakings to address the CMA’s competition [...]
Poundland-99p Stores tie-up threatened by Competition and Markets Authority April 9, 2015 Poundland's offer to buy rival 99p Stores for £55m is facing an in-depth investigation by the competition watchdog, amid concerns reduced competition will lead to reduced quality, fewer promotions and store closures. The Competition and Markets Authority (CMA) said it believes the tie-up could create "a realistic prospect of less competition" in 80 local areas – [...]
BT names the date for EE vote April 1, 2015 BT shareholders will be asked to approve the £12.5bn acquisition of mobile network EE at a general meeting on 30 April. Shareholders are being invited to the meeting at Old Billingsgate at 10am. A simple majority is all that is required for the takeover to go ahead, although it is still subject to heavy scrutiny [...]
BT sets date for shareholder vote on EE deal as board member stands down April 1, 2015 The date has been set for BT shareholders to approve the £12.5bn acquisition of mobile network EE. Shareholders are being invited to a general meeting at Old Billingsgate on April 30, at 10am. Circulars are currently being sent out to relevant parties. Proxy forms are due by April 28 for those not attending the [...]
Is UK online fashion retailer Net-a-Porter about to be bought by Amazon? March 27, 2015 Is Amazon planning to get into high-end fashion retailing? The US tech giant is reportedly in talks to acquire Net-a-Porter, the British online luxury fashion retailer. It would be a bold move for Amazon, which already has clothing categories on its site – although many of the listings tend to feature the word "polyester". According [...]
Watchdog launches probe into fashion March 26, 2015 THE COMPETITION and Markets Authority (CMA) yesterday opened an investigation into dominance in the fashion, clothing and footwear markets. They will decide whether to proceed in October. Shares in Burberry, Next and Debenhams closed down yesterday.