Category Archives: Regulators

Telegraph takeover: UK planning new laws to prevent foreign states owning assets

Posted on by

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...

Dutch cargo bike firm Babboe ordered to halt sales amid safety concerns

Posted on by

Regulator demands recall of two models, understood to affect about 10,000 of the popular products

Dutch authorities have ordered a leading European manufacturer of cargo bikes to suspend sales and recall thousands of its products amid safety concerns over frame breakages.

The Dutch regulator for food and consumer product safety (NVWA) called a temporary halt to trading by Babboe, which makes family cargo bikes seen daily on school runs from Berlin to Bristol, “because their safety cannot be sufficiently guaranteed”.

Continue reading...

Online slot machine stakes to be capped at £5 in Great Britain

Posted on by

Maximum will be £2 for younger adults but campaigners say government has not gone far enough

The amount that can be staked on the spin of an online slot machine will be capped at £5, or £2 for younger customers, as part of government plans to tighten regulation of the £11bn-a-year gambling industry in Great Britain.

Online slots are currently exempt from limits on how much punters can wager.

In the UK and Ireland, Samaritans can be contacted on freephone 116 123, or email jo@samaritans.org or jo@samaritans.ie. In the US, you can call or text the National Suicide Prevention Lifeline on 988, chat on 988lifeline.org, or text HOME to 741741 to connect with a crisis counselor. In Australia, the crisis support service Lifeline is 13 11 14. Other international helplines can be found at befrienders.org

Continue reading...

Shoppers sceptical of whether Coles or Woolworths specials offer actual savings, Choice survey shows

Posted on by

New data from consumer group reveals four in five shoppers say it is hard to know whether markdowns represent value for money

Most shoppers don’t believe Coles or Woolworths specials or sales promotions make it clear they offer actual savings, new data from consumer group Choice shows, with four in five consumers finding it difficult to discern real discounts.

Of almost 11,000 people surveyed, 88% of respondents said they were worried about the rising costs of groceries, while 83% of respondents said they thought some of the supermarkets’ marked down items made it hard to know if they were value for money.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Fujitsu won £1.4bn in new government contracts after court ruling on Post Office software bugs

Posted on by

MPs find Treasury-affiliated bodies have engaged Horizon firm since damning 2019 high court judgment

The Japanese technology company Fujitsu, whose flawed technology for the Post Office led to the wrongful prosecution of hundreds of subpostmasters, is confirmed to have held contracts worth more than £3.4bn linked to the Treasury since 2019.

Figures published by the Commons’ treasury committee show £1.4bn of contracts were awarded to Treasury-affiliated organisations after a high court ruling in December 2019 over the company’s software. The judgment found that “bugs, errors and defects” in Fujitsu’s Horizon system could cause shortfalls in Post Office branch accounts.

Continue reading...

Four bolts appeared to be missing from Boeing panel that blew off, regulator says

Posted on by

National Transportation Safety Board says four bolts meant to hold door plug of 737 Max 9 in place were apparently absent

A cabin panel that blew off a brand-new Boeing 737 Max 9 jet mid-flight appeared to be missing four key bolts, according to an initial report by the US safety regulator.

The bolts meant to hold the door plug in place were absent, the National Transportation Safety Board said. It released photographic evidence alongside the preliminary findings of its investigating on Tuesday.

Continue reading...

Don’t wait for Post Office-style scandal before regulating AI, ministers told

Posted on by

Government to say binding measures for overseeing artificial intelligence are needed, but not immediately

Ministers have been warned against waiting for a Post Office-style scandal involving artificial intelligence before stepping in to regulate the technology, after the government said it would not rush to legislate.

The government will acknowledge on Tuesday that binding measures for overseeing cutting-edge AI development are needed at some point – but not immediately. Instead, ministers will set out “initial thinking for future binding requirements” for advanced systems and discuss them with technical, legal and civil society experts.

Continue reading...

Owner of UK national lottery operator still in business with Gazprom

Posted on by

Czech tycoon promised Gambling Commission two years ago his
firm would sever Russia ties before taking over the lucrative contract

The Czech billionaire whose company takes over running the UK national lottery from Thursday is still in business with the Kremlin-owned gas company Gazprom, nearly two years after promising regulators he would sever ties with Russia.

The Gambling Commission awarded Allwyn the lucrative 10-year licence to run the lottery, estimated to be worth up to £100bn in sales, in March 2022.

Continue reading...

People severely ill with suspected sepsis should be given antibiotics, Nice says

Posted on by

National Institute for Health and Care Excellence says national early warning score should be used to assess severity of illness

People who are severely ill with suspected sepsis should promptly be given life-saving access to antibiotics to prevent unnecessary deaths, according to updated guidance from a health watchdog.

The National Institute for Health and Care Excellence (Nice) has said that the national early warning score should be used to assess people with suspected sepsis aged 16 and over, who are not and have not recently been pregnant, and are in an acute hospital setting or ambulance.

Continue reading...

NHS trust that treated Valdo Calocane to be subject of special review

Posted on by

CQC will conduct review into Nottinghamshire Healthcare in tandem with mental health homicide review

A troubled NHS trust that treated Valdo Calocane for paranoid schizophrenia before he killed three people in Nottingham last year is to be the subject of a special review.

Ministers said the review into Nottinghamshire Healthcare foundation trust would help provide answers to the families of Barnaby Webber, Grace O’Malley-Kumar and Ian Coates, who were killed by Calocane last June.

Continue reading...

Telegraph takeover decision put back by fresh inquiry into Barclay family’s UAE-backed deal

Posted on by

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...

BT scraps above-inflation price rises for mobile and broadband customers

Posted on by

UK’s mobile and broadband firms were accused of ‘greedflation’ last year by the Guardian

BT has become the first major telecoms company to scrap controversial above-inflation price rises for mobile and broadband customers – but not before pushing through a final increase this year.

The owner of mobile operator EE has moved to address the pressure on consumers from rising household costs during the cost of living crisis, after telecoms companies were criticised for increasing bills.

Continue reading...

How Italy turned on influencers in the wake of a charity Christmas cake scandal

Posted on by

With a fraud investigation into Chiara Ferragni under way, she and fellow social media stars are under sharp scrutiny

Chiara Ferragni amassed a fortune through incessant selfie-taking as part of a marketing strategy that included imparting pearls of wisdom to her millions of online followers on how to be “effortlessly cool”.

But now the influencer – one of Italy’s most powerful – is struggling to maintain her own prestige after a scandal over a Christmas cake triggered a fraud investigation, leaving her empire teetering on the edge in what has become a cautionary tale for other social media stars.

Continue reading...

Asic faces questions over failure to warn consumers about HyperVerse crypto scheme

Posted on by

Assistant treasurer Stephen Jones says concerns should have been raised about scheme that appeared to be selling ‘worthless investment products’

Chief executive of HyperVerse does not appear to exist

The assistant treasurer, Stephen Jones, has questioned why Australia’s consumer watchdog did not issue a consumer warning against the HyperVerse crypto investment scheme in line with a number of overseas regulators.

A Guardian Australia investigation has revealed widespread losses to the HyperVerse scheme, which escaped regulator attention in Australia despite one overseas authority warning it was a possible “scam” and another describing it as a “suspected pyramid scheme”.

Sign up for a weekly email featuring our best reads

Continue reading...

Businessman who tried to buy Sheffield United accused of ‘elaborate’ fraud

Posted on by

US watchdog sues Dozy Mmobuosi for allegedly faking documents and making up companies out of ‘thin air’

A Nigerian businessman who appeared to be closing in on a takeover of the Premier League football club Sheffield United is being sued by the US financial watchdog for a fraud, in which he is alleged to have faked documents and made up companies out of “thin air”.

The US Securities and Exchange Commission (SEC) said on Monday it had filed charges against Dozy Mmobuosi, claiming he inflated his companies’ financial performance by hundreds of millions of dollars to defraud investors.

Continue reading...

Scale of bullying and harassment of women in City ‘shocks and alarms’ MPs

Posted on by

Cross-party Treasury committee says its private hearings suggest there has been no improvement in 20 years

MPs on the cross-party Treasury committee have been “shocked and alarmed” to hear about the scale of bullying and sexual harassment against women in the City of London, which suggests there has been “no improvement whatsoever” over the past 20 years.

The Labour MP and committee member Angela Eagle said private hearings held as part of the committee’s sexism in the City inquiry had raised significant concerns about the conditions women were forced to endure in the UK’s financial services sector.

Continue reading...

Brexit-backer Richard Desmond invokes EU law to sue Gambling Commission

Posted on by

Ex-Express owner is expected to claim regulator made errors during bidding war for national lottery contract

Richard Desmond, the Brexit-backing media tycoon, is invoking EU law to sue the gambling regulator after it rejected his “fanciful” bid to run the national lottery, in a suit that could deprive good causes of millions of pounds.

The former owner of the Daily Express has vowed previously to seek damages from the Gambling Commission after his company Northern & Shell missed out on a 10-year contract, worth £6.5bn, to run the lottery from next year.

Continue reading...

Norfolk care home accused of waking residents with loud music to save money

Posted on by

Staff at Iceni Care Home say vulnerable residents were treated as if they were ‘on a farm’ to reduce workload

Care workers at a private care home forced dementia sufferers out of bed as early as 5am and woke them by blasting loud radio music to save money, whistleblowers have alleged.

The management of Iceni Care Home in Swaffham, Norfolk, received repeated complaints about the practice this summer, as concerned staff said vulnerable residents were being treated as if they were “on a farm” in order to reduce the workload on daycare staff.

Continue reading...

Iceland boss hits out at parent ‘exploitation’ in baby milk market

Posted on by

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...

‘They thought I had cancer’: painkiller banned in UK linked to Britons’ deaths in Spain

Posted on by

Patients’ group says reactions to metamizole can cause sepsis and organ failure – and British and Irish people are at higher risk

A patients group representing several British victims has launched legal action against the Spanish government over claims it failed to safeguard people against the potentially fatal side effects of one of the country’s most popular painkillers, involved in a series of serious illnesses and deaths.

The drug metamizole, commonly sold in Spain under the brand name Nolotil, is banned in several countries, including Britain, the US, India and Australia. It can cause a condition known as agranulocytosis, which reduces white blood cells, increasing the risk of potentially fatal infection.

Continue reading...