Big six defend energy market ahead of competition review March 24, 2014 THE BIG six energy firms yesterday defended competition in the market, ahead of the regulators’ findings on the matter later this week. Ofgem and the Office of Fair Trading are due to decide whether to refer the investigation into whether the energy market operates fairly to the Capital Markets Authority. “Competition in the energy market [...]
London Report: Ukraine strife and China data hit FTSE shares March 24, 2014 BRITAIN’S top share index fell yesterday on concerns about the situation in Ukraine and a slowdown in Chinese growth, while energy providers were hit by worries they may be forced to break up their businesses. The blue-chip FTSE 100 index ended 0.6 per cent lower at 6,520.39 points, falling for nine of the past 12 [...]
Who’s afraid of a little energy market competition? March 24, 2014 The debate around competition in the energy market is hotting up. The regulators are due to give their assessment of the market later this week, along with a possible recommendation to refer the investigation to the Capital Markets Authority (CMA). Consumer group Which? and the Federation of Small Businesses have written a joint letter [...]
What the other papers say this morning – 24 March 2014 March 24, 2014 FINANCIAL TIMES Heseltine takes control of Haymarket Michael Heseltine has taken full control of Haymarket, the publishing group he co-founded 50 years ago, as it restructures to move its flagship consumer titles online and expand internationally. The 81-year-old former Conservative politician is betting on a recovery in the fortunes of Haymarket, which made a pre-tax [...]
Forget energy companies: Blame the regulator for distorting competition March 18, 2014 OFGEM, the Office of Fair Trading (OFT) and the Competition and Markets Authority (CMA) will shortly issue an assessment of how well competition in the markets for gas and electricity is serving the interests of households and small firms. But as I argue in the March/April 2014 edition of the European Competition Journal, Ofgem’s regulatory [...]
Wishes and predictions for Osborne’s budget March 17, 2014 Business and accountancy advisers BDO has drawn up a wishlist for neglected middle-market firms, looking for a tax allowance for spending on factories and a reduction in employers’ national insurance for manufacturers. BDO also believes that the chancellor could reform business rates in a revenue neutral fashion and announce a fresh review. BDO say that [...]
Royal Mail wins work with 14 London boroughs March 17, 2014 ROYAL Mail has seen off competition from two other postal companies to sign a two-year deal to deliver council documents for nearly half of London’s boroughs, the firm confirmed yesterday. The postal group, which was part-privatised in a stock market float in October, has provided the service for several boroughs previously, but the new contract [...]
City A.M.’s bumper Budget preview March 17, 2014 As chancellor George Osborne gets ready to unveil the penultimate budget before the general election, we've pulled together all the expected announcements, and what others are hoping for. Deficit Due to the scale of the budget deficit Ernst & Young believe the chancellor has little room for manoeuvre in terms of giveaways. While the Office [...]
FCA urges new rules for add-on policies March 11, 2014 THE FINANCIAL regulator has called for tighter restrictions on the sale of add-on insurance, which it believes is poor value and often sold to customers who don’t need it. Christopher Woolard, director of policy at the Financial Conduct Authority, said this £1bn market is not operating competitively, adding that there is a clear case for [...]
Small firms get raw credit deal March 11, 2014 SMALL businesses get a bad deal from the banking industry because it is too hard to set up new lenders, the Office of Fair Trading said yesterday. The agency said the lack of competition in the market is combined with a lack of information on alternative sources of funding, together damaging business customers. The OFT is handing over its [...]