CMA sets 18 December deadline for initial review as it considers whether deal could reduce competition
The UK’s competition watchdog has launched a formal investigation into the £3.3bn takeover of the UK soft drinks maker Britvic by the Danish brewer Carlsberg.
The Competition and Markets Authority (CMA) has set a deadline of 18 December for the first phase of its investigation into the deal.
Continue reading...Competition and Markets Authority to look at how ‘dynamic pricing’ may have been used to increase prices
The competition watchdog has launched an investigation into the Oasis ticket sales fiasco.
The Competition and Markets Authority (CMA) will investigate Ticketmaster’s handling of sales for the band’s forthcoming tour, including how “dynamic pricing” may have been used to adjust the price.
Continue reading...Review follows UK competition watchdog’s announcement of ‘urgent review’ into Oasis concert tickets fiasco
Ticketmaster’s ability to raise the price of concert tickets based on demand is being scrutinised by the European Commission, the Guardian has learned, as the UK’s competition watchdog launches an “urgent review” into the Oasis concerts fiasco.
The US-owned ticketing giant has been told it may have breached laws in the UK and Europe for inflating the price of some Oasis tickets from £135 to £350, leaving many fans devastated.
Continue reading...Staff at a practice in Wales have accused its private-equity-backed owner of poor pay and overcharging customers
Staff working at a chain of commercial vet surgeries have extended their strike, accusing their private-equity-backed owner of underpaying workers and overcharging pet owners as part of the first industrial action to hit the veterinary sector in the UK.
Unionised vets, nurses and support staff at Valley Vets in south Wales, which is owned by one of the largest veterinary corporations in the country, VetPartners, decided last week to stay out until the end of the month, in the latest move in an increasingly bitter dispute.
Continue reading...New legislation could thwart planned £600m purchase of media group by UAE-backed consortium
The UK government plans to introduce legislation that would prevent foreign governments owning UK newspapers and news magazines in a significant move that could scupper the planned £600m sale of the Telegraph to a United Arab Emirates-backed consortium.
RedBird IMI – a partnership between a fund backed by the UAE’s vice-president, Sheikh Mansour bin Zayed Al Nahyan, and a privately owned US investment firm – is seeking to acquire one of the UK’s most influential newspaper groups.
Continue reading...Competition and Markets Authority launches full-scale investigation after finding costs have risen
The cost of infant milk remains at “historically high” levels despite some price falls in recent months, Britain’s competition watchdog has said, as it launched a full-scale investigation into baby and toddler formula.
The Competition and Markets Authority (CMA) found in November that the average price of infant formula had risen by 25% in the past two years and families could save more than £500 over the first year of a baby’s life by switching to cheaper powders. The findings were part of an analysis of pricing in 10 food categories, which also included milk and ready meals.
Continue reading...Regulators’ reports on public interest risk now due on 11 March after late change in consortium’s structure prompts further review
A second investigation has been launched into the Barclay family’s deal to transfer control of the Telegraph newspaper group, pushing the deadline for regulators’ reports on the public interest threat it poses by more than six weeks.
The UK government moved swiftly to order the second watchdog inquiry after the Barclays’ UAE-backed consortium partner revealed a last-minute corporate structure change.
Continue reading...Richard Walker calls for price cap on infant formula as competition watchdog finds evidence of greedflation
The boss of Iceland has hit out at “exploitation” of new parents and joined calls for a price cap on baby formula after the competition watchdog found evidence of greedflation by leading manufacturers.
The Competition and Markets Authority (CMA) on Wednesday revealed manufacturers had increased prices by more than their costs during the inflation crisis, fattening profit margins and imposing an average 25% increase on shoppers in two years. It warned competition could be hampered because the market is dominated by two companies, Danone and Nestlé, which between them account for 85% of sales.
Continue reading...Sites agree to stop practices that give them an unfair advantage over businesses and shoppers
The UK’s competition watchdog has said it has secured commitments from Amazon and the Facebook owner Meta to protect consumers on their marketplaces.
The agreements come after the Competition and Markets Authority (CMA) launched separate investigations into Amazon, which sells its own products and allows sellers to retail via its online marketplace function, and Meta, which owns Facebook Marketplace.
Continue reading...Other retailers say they are working with government on implementing industry-wide comparison service
Asda has begun publishing local fuel prices at its forecourts online, becoming the first retailer to launch the service following pressure from the competition watchdog and MPs over widened profit margins at the pump.
The Competition and Markets Authority (CMA) has called on the government to introduce legislation to ensure fuel retailers provide up-to-date pricing for a new industry-wide comparison service.
Continue reading...Reduction follows CMA plans to grill executives about ‘sustained higher margins’ but RAC says retailers should go further
Supermarkets have cut more than 7p a litre from the price of diesel since the UK’s competition watchdog warned it would question retail bosses about unnecessarily high forecourt prices, according to the RAC.
The motoring group found that the average price of diesel fell by 7.44p a litre, from 151.02p two weeks ago to 143.58p this week, after the Competition and Markets Authority (CMA) raised concerns that retailers were making “sustained higher margins” from sales of diesel.
Continue reading...Macquarie has option for all of National Grid gas transmission and metering despite tainted history of owning utilities
Ministers have been urged to intervene if the Australian banking powerhouse Macquarie pushes the button on a mooted £3bn deal to take full control of a vital part of the UK’s gas grid.
A consortium made up of Macquarie Asset Management and British Columbia Investment Management Corporation completed the acquisition of 60% of the equity in National Grid’s gas transmission and meter business in January, in a deal which valued the business at £7.5bn.
Continue reading...CMA to look at underlying systems of artificial intelligence tools amid concerns over false information
The UK competition watchdog has fired a shot across the bows of companies racing to commercialise artificial intelligence technology, announcing a review of the sector as fears grow over the spread of misinformation and major disruption in the jobs market.
As pressure builds on global regulators to increase their scrutiny of the technology, the Competition and Markets Authority said it would look at the underlying systems, or foundation models, behind AI tools such as ChatGPT. The initial review, described by one legal expert as a “pre-warning” to the sector, will publish its findings in September.
Continue reading...Downing Street responds to stinging attack from US firm’s president over blocking of $69bn Activision deal
Downing Street has defended the UK as an “extremely attractive” place for tech startups after Microsoft’s president said Brexit Britain was worse for business than the EU, in a stinging attack on the UK’s decision to block a $69bn (£55bn) deal to take over Activision Blizzard.
Microsoft rounded on the Competition and Markets Authority (CMA) on Thursday after a surprise decision to block its planned takeover of the Call of Duty games developer, with its president, Brad Smith, describing it as the “darkest day in our four decades in Britain”.
Continue reading...Global companies like Google, Apple and Amazon could have to pay penalties of up to 10% of their global turnover as government gives competition watchdog more power
Major tech firms face the threat of multibillion-pound fines for breaching consumer protection rules under new legislation that will tackle issues including fake online reviews and subscriptions that are difficult to cancel.
The digital markets, competition and consumers bill will empower the UK’s competition watchdog to tackle the “excessive dominance” that a small number of tech firms hold over consumers and businesses.
Continue reading...Competition watchdog calls for evidence deal could give online retailer dominance in smart home market
Amazon’s $1.7bn takeover of the owner of the Roomba robotic vacuum cleaner is being examined by the UK’s competition watchdog.
The Competition and Markets Authority (CMA) has called for evidence on whether the deal could lead to “a substantial lessening of competition within any market or markets in the United Kingdom for goods or services” and so would require a full investigation.
Continue reading...Legislation could see companies fined millions of pounds for making unproven environmental assertions to sell their products
When the hydrogen-powered Hyundai Nexo car was launched in the UK in the spring of 2019, it was described as “so beautifully clean” that it “purifies the air as it goes”.
Hyundai Motor UK claimed that if 10,000 of its cars were on the road, carbon emission reduction would be “equivalent to planting 60,000 trees”.
Continue reading...Competition and Markets Authority says other operators may not be able to compete after merger of Inmarsat and Viasat
The $7.3bn (£5.4bn) takeover of the British satellite company Inmarsat by its US rival Viasat could result in higher-priced and lower-quality wifi for aeroplane passengers, according to the UK competition watchdog.
The Competition and Markets Authority said its investigation has identified concerns with the merger possibly leading to airlines being offered lower-quality products for onboard wifi and facing higher prices to deliver it.
Continue reading...Watchdog says it suspects possible breaches of competition law around purchase of freelance services
The competition watchdog is investigating possible cartel-like behaviour by sport broadcasters including BT Group, ITV, Sky and IMG Media, which includes Premier League Productions, around the purchase of freelance services.
The Competition and Markets Authority said it believes there are “reasonable grounds to suspect one or more breaches of competition law”.
Continue reading...CMA looks into whether firm gives own sellers unfair advantage over third-party rivals
The UK competition watchdog has launched an investigation into whether Amazon has been giving its own brands and those using its logistics services unfair advantage over third-party rivals on its online marketplace.
The Competition and Markets Authority (CMA) said it opened an investigation on Tuesday amid concerns the US tech corporation’s practices on its UK marketplace may be anti-competitive and could result in a worse deal for customers.
Continue reading...