UK announces in-depth probe of Adobe’s $20bn Figma deal July 13, 2023 Britain’s antitrust regulator on Thursday announced an in-depth probe of Adobe’s $20 billion bid for cloud-based designer platform Figma, after the Photoshop owner said it would not offer any remedies to ease the regulator’s concerns. The Competition and Markets Authority (CMA) said late last month it had found the deal could lead to less choice [...]
CMA outlines next steps for Microsoft and Activision as firms work to clear deal July 12, 2023 Microsoft and Activsion would have to present a new revised deal to the UK’s competition authority if it is to reconsider the multi-billion pound takeover deal, the agency said today. “While the merging parties do not have the opportunity to submit new solutions once a final report has been issued, they can choose to restructure [...]
FCA chief: AI could disrupt financial services ‘at a scale not seen before’ July 12, 2023 The chief of the Financial Conduct Authority has said that artificial intelligence could disrupt the financial services sector in “ways and at a scale not seen before”, warning that the regulator would look to take action against AI-based scams.
A legal puzzle: How to solve the post-Brexit Northern Ireland border July 12, 2023 Barnabas Reynolds is a partner at Shearman & Sterling LLP and the co-author of Mutual Enforcement, a recent publication by Centre for Brexit Policy. In this guest essay he makes the case that the UK can only solve the Northern Ireland border issue by drawing up an entirely new solution. It is sometimes possible to [...]
CMA agrees pause on Microsoft appeal after US court waves through Activision deal July 12, 2023 The UK’s Competition and Markets Authority (CMA) has said it is willing to work with Microsoft over its planned acquisition of video game company Activision Blizzard, which could help end its legal battle with the firms over the deal. It comes after a US judge yesterday handed Microsoft a victory by saying it would not [...]
Government looks to scrap EU short selling rules in post-Brexit deregulation drive July 11, 2023 The government is looking to ditch EU-era short selling rules and will scrap a requirement for individual investors to reveal their bets against companies as part of a post-Brexit push to scrap red tape in the City.
UK must prioritise financial inclusion over the City’s competitiveness, says former FCA chair July 11, 2023 The UK “can’t go on” prioritising the competitiveness of the City over the financial access of millions of vulnerable people during a cost of living crunch, the former chair of the Financial Conduct Authority has warned.
Vodafone’s £11bn 5G rollout at risk if Three merger is blocked July 10, 2023 Vodafone’s UK boss has warned that the company’s £11bn investment in the UK’s 5G network is at risk if its merger with Three is blocked by the country’s competition regulator. Without the deal, Vodafone “won’t be able to invest as much and we won’t be able to deliver the 5G ambition that’s coming in the [...]
Bank of England governor Andrew Bailey slams firms for participating in ‘greedflation’ July 6, 2023 Businesses charging unfair prices for products must be “tackled” to help bring down inflation, the Governor of the Bank of England has claimed. Andrew Bailey, speaking to the BBC’s Newsround programme, said there is evidence that some retailers are “charging too much” for petrol. His comments come after the UK’s competition watchdog, the Competition and [...]
We are not rip-off retailers, says Sainsbury’s July 6, 2023 Bosses at Sainsbury’s have said they are “not rip-off retailer” or “profiteers” as they defended the profit made by the retailer amid scrutiny related to food inflation over the past year. The company also defended increased pay packages for its senior executives at its annual general meeting in London, despite the continued cost-of-living crisis. It [...]