Why Britain shouldn’t fear a stronger pound April 30, 2014 THE RISING pound is causing some concern. “City squeezed by stronger pound” proclaimed the headline in Monday’s City A.M. – reporting the impact of sterling’s rise on the translation of overseas profits. There have also been worries that a rising pound could stifle the recovery of manufacturing output and exports. So what are the facts? [...]
Watchdog hires two city veterans April 23, 2014 THE CITY watchdog has hired veteran investment banker Gunner Burkhart (left) as an adviser on wholesale and markets issues. Burkhart has worked at Goldman Sachs, Deutsche Asset Management, Lehman Brothers and most recently Nomura. The Financial Conduct Authority (FCA) has also hired ex-Competition Commission boss David Saunders to study competition.
How Britain can fix its Nimby problem April 22, 2014 THE COALITION is considering plans to loosen the rules governing the development of new infrastructure, fracking sites, and potentially housing, to facilitate investment. The specifics are not yet clear, but they seem to be on the right track. The potential of UK shale, for example, is huge – if it can be realised. New research [...]
We’re resetting the energy market to make it simpler and smarter April 16, 2014 WHEN energy consumers open the next bill, letter or email from their supplier, they should notice some major changes. On every energy bill, they will now receive personalised information about the cheapest tariff their supplier can offer. They will also receive an accurate projection of how much they will pay if they stay on their [...]
Most still don’t switch account April 15, 2014 CONSUMER watchdog Which? is calling for an investigation into competition in the current account market, after it emerged that just two per cent of people have switched accounts since new guarantees came into effect in September last year. Research found the seven day switching promise is failing to persuade consumers. The Competition and Markets Authority [...]
Offsetting risk while taking on the big players April 14, 2014 The boss of London’s new derivatives exchange tells Elizabeth Fournier why competition is the key to success THE WORLD of derivatives is riddled with acronyms. From OTC (over-the-counter) trades to the Mifid (markets in financial instruments directive) regulations trickling down from Europe, securities trading is a hotbed of impenetrable codes that can make talking to [...]
EU antitrust regulator weighs in on Lafarge-Holcim deal April 10, 2014 Plans to merge the world's two largest cement companies will be subject to intensive review, according to the EU's boss of antitrust Joaquin Almunia. Swiss company Holcim and French rival Lafarge, announced their intentions to merge last week in a move that could slash operating costs and boost group earnings. The deal would result in [...]
Bottom Line: Mixing up a strong case for the regulators April 7, 2014 EXECUTIVES at Lafarge and Holcim must be hoping their investors buy into the idea that good things come to those who wait. Regulatory approval for deals of this size are notoriously drawn out, and yesterday’s admission that the planned merger could face scrutiny from up to 15 different antitrust authorities will have added months – [...]
Cement giants outline £25bn merger April 7, 2014 THE WORLD’S two largest cement companies yesterday confirmed their plans to merge, outlining £4bn of divestments in an attempt to assuage competition concerns. France’s Lafarge and Swiss firm Holcim unveiled a share-for-share deal, which would create a self-proclaimed “merger of equals” with sales of €32bn (£26.5bn) and core earnings of €6.5bn. Bruno Lafont, chairman and [...]
The UK Holcim-Lafarge assets that could be up for sale April 7, 2014 The Holcim Lafarge mega-merger will result in a number of asset disposals across multiple jurisdictions to avoid the wrath of the competition regulators. The UK will most likely play a part in the world’s largest cement makers’ plans for €4.9bn (£4bn) of divestments – providing opportunities for existing or new players to tap into the [...]