HSBC, Nationwide and TSB failed to send transaction histories to some customers July 25, 2023 HSBC, Nationwide Building Society and TSB collectively let down a total of nearly 170,000 customers by failing to provide payment transaction histories, according to the competition watchdog. The Competition and Markets Authority (CMA), which has written to the two banks and building society, said the failures are “not acceptable”. The providers breached part five of [...]
Vodafone’s merger with Three would help build the 5G network Britain needs July 24, 2023 Britain's connectivity issues are at risk of undermining the strength of our tech sector, writes Ed Vaizey.
Supermarket fuel margins more than double since Ukraine war July 22, 2023 Supermarkets have more than doubled their margins on fuel since the start of the war in Ukraine, new analysis suggests. The RAC said Asda, Tesco, Morrisons and Sainsbury’s were making an average of around 4.7p per litre on fuel sales when the Russian invasion began in February 2022. The motoring services company found this had [...]
RAC: Tesco, Sainsbury’s, Asda and Morrisons have more than doubled fuel margins since Ukraine war July 22, 2023 Supermarkets have more than doubled their margins on fuel since the Ukraine war began, according to research from motoring firm the RAC. The ‘big four’ supermarkets – Tesco, Sainsbury’s, Asda and Morrisons – have seen the profits they make per litre of diesel and petrol rise from 4.7p to 10p since the Russian invasion started in [...]
City firms feel the pinch as FCA ramps up action July 20, 2023 The Financial Conduct Authority has tightened the screws on City firms over the past 12 months as it shut off nearly 30 per cent more companies than the previous year.
CMA warns supermarkets to make pricing clearer or risk enforcement action July 20, 2023 The Competition and Markets Authority has found not all retailers are displaying prices as clearly as they should, which could be hampering people’s ability to compare products. The watchdog said it is writing to these retailers and warning them to make the necessary changes or risk facing enforcement action. It is also calling on the government [...]
Lime bike use soaring in London with 12 million rides since 2019 July 20, 2023 Lime has seen soaring demand for its e-bikes in London with over 12m rides since 2019 and an average monthly increase of 10 per cent, it has been revealed. Londoners have travelled nearly 30m kilometres using Lime’s e-bikes since 2019, according to a new report from the transport consultancy Steer, commissioned by the e-bike and [...]
IPA Bellwether: UK businesses boost sales promotions to record levels but pessimism lingers July 20, 2023 UK firms have ramped up sales promotions to an all-time high, leading to a growth in overall marketing budgets, according to the second-quarter IPA Bellwether Report released today. The report, which tracks marketing trends, revealed that sales promotions budgets have reached their highest level in the 23-year history of the survey, as more businesses increased [...]
CMA bosses would have charged Asda more for failing to comply with fuel pricing probe July 19, 2023 The co-owner of Asda, Mohsin Issa, has said he thought it was ‘unfair’ for competition watchdog bosses to say they would have charged the grocer more if they could for failing to provide relevant info for its probe into fuel pricing. In June, Asda was fined £60,000 by competition watchdog for failing to co-operate properly [...]
Buy-now see-you-later? FCA boss slams claims BNPL firms will quit UK due to regulation July 19, 2023 The chief of the City watchdog said he does not “buy the argument” that buy-now pay-later (BNPL) firms will quit the UK today after it emerged ministers may shelve planned rules over fears firms would leave. The government had been pushing ahead with plans to bring BNPL products offered by firms like Klarna and Clearpay [...]