Jeremy Hunt to meet CMA, Ofgem, Ofwat and Ofcom over ‘profiteering’ concerns June 26, 2023 Jeremy Hunt will ask industry regulators what they are doing about any companies exploiting rampant inflation by raising prices. The Chancellor is set to meet the Competition and Markets Authority (CMA), and the watchdogs for energy, water and communications on Wednesday. He will press them on whether there is a profiteering problem in their sectors [...]
CMA blocks tie-up of hearing aid giants citing bid to protect consumers and the NHS June 22, 2023 The competition watchdog said it was protecting customers and the NHS on Thursday as it blocked part of the planned tie-up between two hearing aid companies. The Competition and Markets Authority (CMA) said that it would not allow the merger of Cochlear Limited and Oticon Medical to go ahead. Cochlear agreed to buy Oticon from [...]
Claim of supermarkets profiteering doesn’t pass ‘basic smell test,’ says former Sainsbury’s boss June 21, 2023 The former boss of Sainsbury’s has roundly rejected claims that British supermarkets are profiteering during the cost of living crisis, arguing that the government and regulators should focus on helping those in need instead of considering “interfering in markets”. “This idea that [supermarkets] are somehow profiteering in these circumstances… it doesn’t even pass a basic [...]
Adam Smith 300: Adam Smith Institute founder Dr Eamonn Butler on how morality guided the father of economics June 19, 2023 Nobody changed the dismal science of economics quite like Adam Smith, the Scottish philosopher, author of The Wealth of Nations and The Theory of Moral Sentiments, and father of market economics. June marks the 300th anniversary of Smith’s baptism – nobody quite knows his actual birthday – and to mark the occasion, German historian and [...]
Vodafone’s merger with Three is an open and shut case of a monopolistic power June 19, 2023 A merger between Vodafone and Three, two of the biggest telecoms companies in the UK will drive up prices for consumers and kill competition, writes Max von Thun
Tesco: ‘Encouraging signs inflation is starting to ease’ as quarterly revenue tops £14.8bn June 16, 2023 Britain’s biggest supermarket Tesco has reported a nine per cent increase in UK sales, with its new chief executive saying there are “encouraging early signs that inflation is starting to ease”. Tesco said it reported £13bn in sales across the UK and Republic of Ireland, up almost nine per cent on the previous quarter. In [...]
Adam Smith 300: Rainer Zitelmann interviews Eamonn Butler June 16, 2023 We don’t know his exact birthday, but June 16 is the 300th day of Adam Smith’s baptism. What’s clear however is that he changed the science of economics, and the nature of society, forever with his publication of The Wealth of Nations. It is still cited today as the most powerful argument in favour of [...]
Adam Smith 300: Nine global economists have their say on the pioneer’s importance June 16, 2023 Friday, 16 June 2023 marks the 300th anniversary of Adam Smith’s baptism. The German economic historian and sociologist Rainer Zitelmann, author of the book In Defence of Capitalism , asked free-market economists from nine countries to assess the historical significance of Adam Smith. Professor Stefan Kooths, Kiel Institute for the World Economy, IfW, Germany “What [...]
Introduce sustainable supply chains to meet your ESG goals June 13, 2023 An organisation’s supply chain typically accounts for over ten times more emissions than its operations. Addressing the impact of the supply chain is key for any business that wants to reduce its impact on the environment. We have seen a move in the market towards including sustainability and impact drafting in contracts to make improvements [...]
CMA hits out at Asda and Sainsbury’s for restricting competition June 13, 2023 Asda and Sainsbury’s broke anti-competition rules a combined total of 32 times between 2011 and 2019, the competition watchdog said this morning. The Competition and Markets Authority (CMA) said the ‘Big Four’ supermarkets broke the Groceries Market Investigation (Controlled Land) Order 2010, which was brought in to stop supermarkets imposing new restrictions that stop rivals [...]