Natwest gets slap on the wrist after flouting customer service rules August 15, 2023 Natwest and the Co-Operative Bank have been given a slap on the wrist by the competition watchdog today after potentially misleading customers over the quality of service they were receiving. In letters to the two banks today, the Competition and Markets Authority said Natwest and Co-Op Bank had both breached part three of the Retail [...]
Ranked: The best banks for customer service? Monzo and Starling steam ahead August 15, 2023 Which banks are the best for customer service? A new official ranking has been produced by the consumer regulator
Biden declares ‘national emergency’ as he bans US investment in Chinese tech August 10, 2023 President Joe Biden on Wednesday signed an executive order that will prohibit some new U.S. investment in China in sensitive technologies like computer chips and require government notification in other tech sectors. The long-awaited order authorizes the U.S. Treasury secretary to prohibit or restrict U.S. investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies [...]
Is chess a sport? It soon may be chasing the Olympic Holy Grail August 10, 2023 Columnist Ed Warner discusses chess, funding fringe sports and what makes a solid sporting body chief executive. Where do you draw the line between games and sports? Mine is at the door of the pub, so ruling dominos, bar billiards, space invaders and darts out of the sporting firmament. I realise of course that this [...]
Tribunal upholds £84m CMA fine for firm that hiked drug prices August 8, 2023 The companies behind a drug whose price was hiked from £20 to £248 per pack in just eight years will be fined a combined £84 million after a tribunal upheld the competition watchdog’s decision. The Competition Appeal Tribunal on Tuesday had endorsed “all the main elements” of the Competition and Markets Authority’s decision, the CMA [...]
Shapps warns fuel retailers he will ‘call out any foot-dragging’ on price transparency August 8, 2023 Energy Secretary Grant Shapps has warned fuel retailers he will “call out any foot-dragging” over the sharing of pump price data. He made the comment as drivers were hit by the largest weekly rise in petrol prices for more than a year. The Competition and Markets Authority (CMA) is planning to launch an interim voluntary [...]
Post-Brexit rules for big tech give almost boundless power to the competition watchdog August 7, 2023 Post-Brexit rules for big tech were designed to allow more competition, but they effectively hand the reins to the Competition and Markets Authority without enough checks and balances, writes Liza Lovdahl Gormsen.
A nation driving innovation – why the UK is still a great place for global fintech companies August 4, 2023 Martin Heraghty, Regional Director Europe, Paymentology As an international financial powerhouse, the UK – and in particular London – is a great place for a fintech company to be based – even when times are tough. Despite the economic fallout of Brexit, soaring inflation and the cost of living crisis, the UK is still ranked [...]
There are crypto scams and greedy grabbers, but Bitcoin keeps proving itself to be above it all August 4, 2023 Despite having his feet up on the edge of the pool, cold beer in hand, Jason Deane somehow finds the time for some Bitcoin contemplation.
Arm aims for £55bn IPO valuation as potential anchor investors line up August 2, 2023 British chip innovator Arm has set its sights on a valuation target of $60bn (£47bn) to $70bn (£55bn) when it goes public, which could be as soon as this September. Arm is gearing up to float on New York’s Nasdaq in the first week of September with pricing for the IPO to arrive in the [...]