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 [...]
£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.