£880,000 fine for Leicester City confirmed by watchdog July 31, 2023 The Competition and Markets Authority has confirmed the sanctions it has imposed on Championship club Leicester City and JD Sports as part of a case relating to shirt restrictions. A fine of £880,000 has been imposed on the 2015-16 Premier League champions while JD’s decision to report the conduct to the CMA sees them benefit [...]
CMA aims for decision on £55bn Microsoft-Activision deal by 29 August July 31, 2023 The UK’s competition watchdog has opened up its inquiry into Microsoft’s Activision Blizzard deal for comments, as it aims for a final decision by Aug. 29 on a £55bn takeover it had previously blocked in April. The Competition and Markets Authority (CMA) also on Monday published Microsoft’s arguments explaining why the deal should be re-evaluated, as the [...]
Savings rates: Nine big banks face ‘robust’ action if they can’t prove fair value July 31, 2023 The nine largest banks have passed on just 28 per cent of base rate increases in easy access savings accounts since the beginning of last year, as the City watchdog issued a new set of rules to ensure savers get a fair deal. Under new rules coming into place, the Financial Conduct Authority (FCA) said [...]
Elon Musk and Worldcoin only prove that marketing seems more powerful than education July 28, 2023 A bleary-eyed Jason Deane takes a couple of paracetamol and dons his shades to ponder one very crazy week in crypto.
LendInvest founder Christian Faes: Why I left London for California July 27, 2023 Fintech founder Christian Faes tells City A.M. why he's swapped London for California.
Bitcoin highs and lows tread a tight margin as investors await today’s interest rate call July 26, 2023 Yesterday’s highs and lows for the market leader were both around the $29k level, with Bitcoin today sticking to the same price range.
Heathrow narrows losses but blames CAA price cap for staying in the red July 26, 2023 Heathrow Airport said on Wednesday it remained loss making in the first half of 2023 despite soaring passenger figures, blaming a cap on the amount it can charge airlines for using the hub. For the six months to June, the west-London hub saw adjusted pre-tax losses halve to £139m but said that the airport “remains [...]
Lloyds profit remains flat on last year despite boost from rising rates but guidance lifted for the year July 26, 2023 Lloyds’ profit remained flat on last year despite the benefit of rising interest rates as the bank set aside more than anticipated to cope with bad loans. In the second quarter the high street bank recorded a pre-tax profit of £1.6bn, flat with last year but slightly lower than company compiled consensus. However, the profit [...]
City watchdogs risk ‘watering down’ London rules in red tape bonfire, FTSE bosses warn July 25, 2023 City watchdogs are at risk of “watering down” standards in the capital as the government throws its weight behind with a slew of reforms to the listings regime and capital markets, FTSE bosses have warned.
The law is sufficiently clear for the UK to become a global leader in digital assets July 25, 2023 Bittrex Global CEO Oliver Linch discusses why the Law Commission's report on digital assets should spur the UK government into action.