The Co-op admits blocking rivals from opening competing stores March 5, 2025 The Co-op has become the latest major UK supermarket to fall foul of a targeted campaign by the Competition and Markets Authority (CMA) to stop the use of ‘unlawful land agreements’ in grocery retailing. The group has admitted to 107 breaches of an order to stop supermarkets imposing restrictions that block rivals from opening competing [...]
AI-men: How Gen Z will join religions created by algorithms March 4, 2025 Bespoke belief systems like tarot and astrology are already gaining popularity with Gen Z – AI will take it further, offering bespoke doctrines, machine-learning-driven prophecies and virtual deities that evolve based on user data, says Paul Armstrong Spirituality is evolving, and Gen Z is leading the charge. Traditional religious affiliation is in freefall (43 out [...]
Pets at Home shares surge on takeover and watchdog rumours February 26, 2025 Pets at Home shares surged more than 14 per cent this morning as evidence grows that the UK’s competition watchdog is moving toward a positive conclusion for the industry, as well as speculation that private equity firm BC Partners was preparing a bid. A series of bidcos were registered on 24 February with pug in [...]
Payments regulator reportedly could be scrapped as No10 slashes red tape February 23, 2025 The UK’s payments regulator could be scrapped and folded into another regulator as part of efforts by No10 to slash red tape, according to Sky News. Ministers are mulling whether to abolish the Payment Systems Regulator (PSR) and amalgamate it into the Financial Conduct Authority (FCA), the broadcaster has reported. A decision could come within [...]
Banks including HSBC fined £100m for ‘anti-competitive behaviour’ February 21, 2025 In a statement released this morning, the Competition and Markets Authority (CMA) confirmed that the banks have agreed to pay fines for this anti-competitive behaviour.
Mark Kleinman: FCA is naming and shaming itself, not the City February 20, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column. Today, he tackles name and shame at the FCA, a gamble at Entain and a business group revamp FCA is naming and shaming itself, not the City It’s rare to get a consensus this strong – but [...]
GXO-Wincanton deal would raise costs for supermarkets, says CMA February 19, 2025 Logistics firm GXO’s takeover of Wincanton is likely to reduce competition and bump up costs for supermarkets stocking up shelves, according to the UK’s competition watchdog. The Competition and Markets Authority (CMA) on Wednesday published its initial assessment into the £762m deal following a year-long investigation. The regulator noted GXO and Wincanton are currently two [...]
Treasury confirms shift to one-day settlements as Rachel Reeves calls in City bankers February 19, 2025 Chancellor Rachel Reeves has confirmed that the UK will move to a ‘T+1’ standard for settling securities trades from 2027. She is meeting with chiefs of investment banking and asset management firms today to discuss the overhaul. The government has set 11 October 2027 as the date for the UK to transition to a one-day [...]
Thames Water restructuring plan approved by High Court February 18, 2025 Thames Water’s restructuring plans have been approved by the High Court, giving the beleagured utility a lifeline to avoid temporary nationalisation. The UK’s biggest water supplier had been set to run out of money by 24 March without a £3bn loan from its creditors, amid debts of more than £19bn. Such an outcome would have [...]
New towns: Why Starmer needs to avoid being a cowboy builder… February 18, 2025 Promises can be a tricky thing in politics. Just look at the flack Nick Clegg received for pledging to scrap tuition fees, and then, well, not. Similarly, putting Partygate aside, I suspect Boris Johnson isn’t exactly fondly remembered as PM by those voters living in areas promised one of his 40 new hospitals. While some [...]