CMA to investigate PCR tests market after concerns about vastly different prices being charged
The competition watchdog is to look into fees for the Covid-19 tests required for international travel after concerns about the vastly different prices being charged for them.
The Competition and Markets Authority will provide advice and intelligence on the market in PCR tests to the health secretary, Sajid Javid, to enable the government to act.
Continue reading...Advanz Pharma and former private equity owners were fined £100m by markets watchdog
A pharmaceuticals firm that inflated thyroid drug prices by up to 6,000% over a decade paid out more than £400m to shareholders and directors during the same period.
London-based Advanz Pharma – and its former private equity owners HgCapital and Cinven – were fined a combined £100m by the Competition and Markets Authority (CMA) on Thursday.
Continue reading...Airlines may have broken law by refusing refunds for flights customers could not legally take
British Airways and Ryanair are being officially investigated over whether they treated customers unfairly during the pandemic by failing to offer them flight refunds.
The Competition and Markets Authority (CMA) said it was looking to see if the two airlines had broken consumer law, and indicated it was on the side of consumers on this issue. It has opened enforcement cases into both companies.
Continue reading...Watchdog fears that social media giant’s takeover of Giphy may reduce competition
The UK’s competition regulator has opened an investigation into the proposed $400m (£320m) takeover of gif search engine Giphy by Facebook amid fears that the acquisition may reduce competition in the UK.
The Competition and Markets Authority (CMA) is inviting comments about Facebook’s purchase of a company that currently provides gif search across many of the social network’s competitors, including Twitter and the messaging service Signal.
Continue reading...Tech giant conspired with wholesalers Tech Data and Ingram Micro to align prices, says watchdog
Apple has been fined a record €1.1bn (£990m) by antitrust regulators in France for engaging in anti-competitive agreements with two wholesalers. The penalty imposed on the US tech giant is the largest ever handed out to a company by the Autorité de la Concurrence.
Commenting on the move, Isabelle de Silva, head of the French competition watchdog, said: “Apple and its two wholesalers agreed to not compete against each other and prevent resellers from promoting competition between each other, thus sterilising the wholesale market for Apple products.”
Continue reading...Enforcement order issued after online retailer bought stake in food courier service
The UK’s competition regulator has ordered Amazon and the food delivery company Deliveroo to pause any integration efforts pending an investigation into potential breaches of competition rules.
The Competition and Markets Authority (CMA) on Friday issued an initial enforcement order against the companies after Amazon bought a stake in Deliveroo.
Continue reading...Clampdown on stars being paid for endorsing products without disclosing firm rewards them
More than a dozen celebrities, including Alexa Chung and Ellie Goulding, have pledged to change the way they label social media posts after Britain’s competition watchdog clamped down on the practice of stars being paid for endorsing products without disclosing they were being rewarded by the company.
The Competition and Markets Authority (CMA) said it had secured formal commitments from 16 celebrities to state clearly if they have been paid or received any gifts or loans of products which they endorse.
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