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.... But Ofgem would run into practical difficulties if it opted for a market-wide price cap on standard variable tariffs, which seemed to be May’s idea. The energy suppliers could appeal to the Competition and Markets Authority and, since the CMA last year rejected a full price cap, the protests would probably succeed. ... [Read full article on Guardian ]
Thursday 17th of August 2017 06:45:27 PM
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....Sainsbury’s exclusive talks on a £130m takeover of grocery wholesale group Nisa have ground to a halt over fears of intervention by competition authorities. The exclusive talks ended late last week after the Competition and Markets Authority expressed serious concerns about a similar, but much larger, merger between Tesco and the grocery wholesaler Booker. ... [Read full article on Guardian ]
Monday 14th of August 2017 04:31:08 PM
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....Now, though, the talks have been halted – at least for the time being – because Sainsbury’s fears being dragged into the same regulatory tangle as Tesco/Booker. The Competition and Markets Authority, rightly, is taking a long hard look a merger between the two biggest players in their respective corners of the grocery market. ... [Read full article on Guardian ]
Monday 14th of August 2017 06:07:46 PM
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Latest Finance News related to Competition And Markets Authority

Bunnings beware: the Homebase revolution is failing to shape up image
Source : Guardian [Read Article] Thursday 17th of August 2017 06:45:27 PM
.... But Ofgem would run into practical difficulties if it opted for a market-wide price cap on standard variable tariffs, which seemed to be May’s idea. The energy suppliers could appeal to the Competition and Markets Authority and, since the CMA last year rejected a full price cap, the protests would probably succeed. ...
Sainsbury’s is right to delay Nisa deal after Tesco-Booker concerns | Nils Pratley image
....Now, though, the talks have been halted – at least for the time being – because Sainsbury’s fears being dragged into the same regulatory tangle as Tesco/Booker. The Competition and Markets Authority, rightly, is taking a long hard look a merger between the two biggest players in their respective corners of the grocery market. ...
Sainsbury's Nisa takeover talks paused after competition concerns image
Source : Guardian [Read Article] Monday 14th of August 2017 04:31:08 PM
....Sainsbury’s exclusive talks on a £130m takeover of grocery wholesale group Nisa have ground to a halt over fears of intervention by competition authorities. The exclusive talks ended late last week after the Competition and Markets Authority expressed serious concerns about a similar, but much larger, merger between Tesco and the grocery wholesaler Booker. ...
Fox’s chances of securing Sky depend on the football result image
Source : Guardian [Read Article] Sunday 13th of August 2017 05:59:06 AM
....7bn offer. Last week, culture secretary Karen Bradley again postponed calling in the Competition and Markets Authority (CMA) to scrutinise the deal, asking media regulator Ofcom to further examine the Murdochs and their adherence to broadcasting standards. ...
Murdoch’s Sky takeover bid delayed as Ofcom is asked for further input image
....On Tuesday the DCMS said it had received submissions that raise “new evidence and/or comment” about Ofcom’s assessment of the takeover and was “seeking further clarification” from the regulator. The department has asked Ofcom to respond by 25 August, meaning that the government is almost certain not to announce a final decision on whether to refer the deal to the Competition and Markets Authority (CMA) until parliament returns from summer recess in September. ...
Airbnb agrees to close reviews loophole after intervention by UK regulator image
....Only those who persist and go through Airbnb’s customer services department have been able to leave unhappy reviews after deciding to leave a property early, until now. Following a intervention by the Competition and Markets Authority (CMA), Airbnb has now agreed to change its online reviews policy. ...
Asda considers bid for B&M that would give it access to local stores image
Source : Guardian [Read Article] Sunday 23rd of July 2017 04:11:01 PM
....Tesco has attempted to snap up Booker, the cash-and-carry that supplies Budgens and Londis convenience stores, for £3. 7bn, although concerns from the Competition and Markets Authority mean any deal is unlikely to be concluded before December. ...
Frankly, banks – it’s time to give a damn about your image image
Source : Guardian [Read Article] Sunday 23rd of July 2017 06:00:00 AM
.... She will replace Adam Crozier, who left the company last month. On the following day come full-year numbers from Sky, which is playing a key role in a corporate drama of its own with culture secretary Karen Bradley deciding whether to ask the Competition and Markets Authority (CMA) to investigate Rupert Murdoch’s bid to take over the group. ...
Culture secretary keeps Rupert Murdoch waiting over Sky deal image
Source : Guardian [Read Article] Thursday 20th of July 2017 11:26:27 AM
....7bn deal. Karen Bradley said she had hoped to be able to make a final decision on whether to ask the Competition and Markets Authority (CMA) to investigate the deal before parliament breaks up for summer on Friday. ...
Ofcom made serious errors over Murdoch Sky bid, say high-profile MPs image
Source : Guardian [Read Article] Friday 14th of July 2017 03:31:40 PM
....The MPs say that the media regulator did not properly consider allegations of sexual harassment at Fox News and the phone-hacking scandal at the News of the World as part of a review into whether a combined Fox and Sky would be committed to meeting broadcasting standards. When these factors are taken into consideration against the correct legal threshold, then the bar is met for a detailed investigation into broadcasting standards by the Competition and Markets Authority (CMA), they add. ...
Tesco faces in-depth investigation into £3.7bn Booker takeover image
Source : Guardian [Read Article] Wednesday 12th of July 2017 08:31:46 AM
....7bn deal to buy the cash-and-carry group Booker has been referred for an in-depth investigation after the competition watchdog said it could result in higher prices for shoppers in about 350 areas across the UK. The Competition and Markets Authority said in those areas Tesco overlapped with convenience chains including Londis and Budgens, which were supplied by Booker. ...
Lloyds Bank brings in single overdraft rate in radical shake-up image
Source : Guardian [Read Article] Tuesday 11th of July 2017 11:01:08 PM
....The bank admitted that the 1p per £7 overdraft is equivalent to an APR of 52%, and said it would encourage regular users of large overdrafts to switch to a personal loan instead. Last year the Competition and Markets Authority completed a two-year probe into banking, in which it highlighted how the big banks make around £1. ...
Hinkley Point C: the government should start planning alternatives | Nils Pratley image
....Don’t blame Ofgem, incidentally, for declining to live up to the Conservative party’s election hype. The regulator has technical powers to propose a universal price cap, but it also knows that such a muscular approach would invite an appeal by the energy suppliers to the Competition and Markets Authority. ...
New energy price cap considered image
Source : BBC [Read Article] Monday 3rd of July 2017 01:04:50 PM
....That includes "a strong possibility that we'll extend the price cap currently in place for pre-payment meters to vulnerable customers as well". Last year, a landmark investigation by the Competition and Markets Authority concluded that many households on standard variable tariffs were paying too much for their energy. ...
Forget Murdoch. It’s social media that’s really pulling the strings image
.... Bradley, it seems, is minded to accept the Ofcom verdict on Sky and media plurality. Unless the Swizz Family Rupert give further binding oaths, she’ll refer the merger to the Competition and Markets Authority. ...
Murdochs or the Enlightenment? Only one will take Britain forward | Will Hutton image
....Yet notwithstanding James Murdoch’s stated views – or the history of hacking at News Corp and the culture at Fox, where, in the US, key executives have quit over charges of arrant sexism – Ofcom in its “advice” last week saw no reason to bar the Murdochs from owning a British broadcaster on the grounds of not being a fit and proper owner – a crucial judgment. However, Ofcom did “advise” that the bid should be referred to the Competition and Markets Authority (CMA). ...
Sky-Fox takeover deal likely to face competition probe image
Source : BBC [Read Article] Thursday 29th of June 2017 04:12:56 PM
...."On the basis of Ofcom's assessment, I confirm that I am minded to refer to a phase two investigation on the grounds of media plurality," she said. The parties involved can make representations to the culture secretary until Friday 14 July, when she will make a further decision about referring the deal to the Competition and Markets Authority. ...
The Tories must rein in Rupert Murdoch and block the Sky deal | Tom Watson image
.... I’m not holding my breath. The culture secretary’s statement that she’s minded to refer Fox’s bid for Sky to the Competition and Markets Authority is no surprise. ...
Rupert Murdoch's Sky bid is now very likely to succeed image
Source : Guardian [Read Article] Thursday 29th of June 2017 03:01:16 PM
....That outcome was expected since the regulatory threshold for removing a broadcast licence is high (Owen Oyston, who did suffer the sanction, was convicted of rape) and it would be a brave regulator that deprived the punters of live football, even temporarily. Culture secretary Karen Bradley is instead minded to refer the deal to the Competition and Markets Authority on grounds of media plurality – essentially the fact that Murdoch interests in the UK already span broadcast, radio, print and online. ...
Labour MPs warn ministers against ‘grubby deal with Murdochs’ over Sky image
....7bn takeover of Sky after Ofcom warned there were serious concerns that any takeover would hand the family increased influence over news and politics in the UK . The MPs’ intervention came in response to the culture secretary telling the Commons on Thursday that she was “minded” to accept the regulator’s conclusion that the Competition and Markets Authority should conduct a full six-month examination of the deal. ...
Tesco and Booker call for fast-track competition probe image
Source : BBC [Read Article] Thursday 29th of June 2017 07:11:24 AM
....7bn tie-up. Tesco announced it had agreed to buy Booker in January and the Competition and Markets Authority (CMA) started an initial review in late May. ...
FCA says UK's £7tn asset management industry needs radical reform image
Source : Guardian [Read Article] Wednesday 28th of June 2017 07:28:17 AM
.... It also said it was not trying to favour passive funds – which track indices – over active funds. The regulator had concerns about the way the investment consultant market operated, but did not immediately refer the industry to the Competition and Markets Authority, after receiving representations from the three big companies. ...
The Guardian view on Murdoch’s Sky plan: a blow to media plurality | Editorial image
....Mrs Bradley should at the very least refer the £11. 7bn bid to the Competition and Markets Authority to allow for a six-month investigation to take place into media diversity. ...
Holiday car hire: how to avoid the add-ons that can double your bill image
Source : Guardian [Read Article] Saturday 24th of June 2017 05:59:00 AM
.... The good news is that, as of the start of this year, the main sites have had to make sure motorists are shown the true cost of hiring before they buy. This followed action by the Competition and Markets Authority, which last year wrote to around 25 businesses to tell them their pricing must be “transparent”. ...
Online gambling firms face clampdown after watchdog's probe image
Source : Guardian [Read Article] Friday 23rd of June 2017 07:46:11 AM
....The online gambling industry is facing a clampdown after the UK competition watchdog accused companies of unfairly treating customers and potentially breaking consumer law. The Competition and Markets Authority (CMA) said people were not getting the deal they expected from sign-up promotions and operators were unfairly holding on to customers’ money. ...
Fox’s £11.7bn bid for Sky ‘should be referred to competition authorities’ image
....“The proposed takeover of Sky by Fox is a hugely significant deal with the potential to transform the UK’s media market,” said Watson. He urged Bradley to refer the takeover to the Competition and Markets Authority (CMA) for an in-depth investigation. ...
Tesco boss named as witness in fraud case against former directors image
Source : Guardian [Read Article] Tuesday 30th of May 2017 12:58:27 PM
.... Lawyers for all three former directors said they would plead not guilty. • The Competition and Markets Authority has opened an investigation into Tesco’s proposed £3. ...
Watchdog probes Tesco-Booker deal image
Source : BBC [Read Article] Tuesday 30th of May 2017 11:54:19 AM
....7bn takeover of wholesaler Booker. The Competition and Markets Authority will assess whether the tie-up could reduce choice for shoppers and for small stores supplied by Booker. ...
New payday loan regulations come into force image
Source : BBC [Read Article] Thursday 25th of May 2017 11:07:20 PM
....New payday loan regulations come into force on Friday, requiring all online lenders to advertise on at least one price comparison website. The new rules are the result of an investigation by the Competition and Markets Authority (CMA), published in February 2015. ...
CMA to examine Aberdeen/Standard Life merger image
Source : BBC [Read Article] Monday 22nd of May 2017 02:48:09 PM
. The Competition and Markets Authority has opened an investigation into the planned £11bn merger of Standard Life and Aberdeen Asset Management. ...
Just Eat and Hungryhouse merger faces competition probe image
Source : BBC [Read Article] Friday 19th of May 2017 06:54:56 AM
....Just Eat's £200m plan to take over rival food delivery service Hungryhouse faces a hurdle. The proposed deal has been referred for an in-depth investigation by the Competition and Markets Authority (CMA). ...
Vodafone axes pager business 'based on ageing technology' image
Source : Guardian [Read Article] Wednesday 10th of May 2017 11:37:13 AM
....Vodafone is to shut down its pager business after failing to receive backing from the competition watchdog to sell the dwindling division that relies on old technology popular in the 1980s. The telecoms group said it was ditching plans to sells the business to Capita’s PageOne, and would instead close it after the Competition and Markets Authority announced plans to launch an in-depth investigation into the deal. ...
Just Eat faces competition inquiry over Hungryhouse takeover image
Source : Guardian [Read Article] Wednesday 10th of May 2017 07:38:30 AM
....Both companies provide online takeaway ordering services, giving restaurants the opportunity to reach a wide pool of customers and offering consumers a greater choice. However, the Competition and Markets Authority said the tie-up between the two firms could result in worse terms for restaurants using either of the two companies. ...
Vodafone to close down pager business after CMA shock image
Source : BBC [Read Article] Wednesday 10th of May 2017 06:55:15 AM
....Vodafone and Capita run the UK's last two paging businesses and agreed the sale in February. But the Competition and Markets Authority said it was concerned customers may now face price rises. ...
Tory claims over energy price cap are just hot air | Nils Pratley image
Source : Guardian [Read Article] Tuesday 9th of May 2017 06:46:24 PM
.... The regulatory system may have encouraged them down this route, but the companies cannot be surprised that so many people think it odd that there are differences of £200 or more between the same company’s standard rate and fixed tariff for a commodity product. So what’s the most irritating aspect? It’s the Tories’ breezy use of last year’s report by Competition and Markets Authority to justify a price cap. ...
Tory energy pledge: May says she still believes in free market despite vow image
....The Conservatives are proposing a price cap on standard variable tariffs, to be set by the energy regulator, Ofgem. The policy follows a recommendation from a minority report by the Competition and Markets Authority (CMA), which found that customers had collectively been forced to pay £1. ...
Energy bills: £100 cap plan defended by Theresa May image
Source : BBC [Read Article] Monday 8th of May 2017 09:51:56 PM
.... . Following a two-year investigation, the Competition and Markets Authority said last year that excess profits were largely being caused by inefficiency in the market and recommended a cap on pre-paid energy bills - a measure that was introduced last month. ...
Theresa May to promise price cap on energy bills in Tory manifesto image
....The company’s chief executive, Iain Conn, has previously hit out at the plans, claiming there were “some at the heart of the government who just don’t believe in free markets”. The business secretary, Greg Clark, said he wanted the energy market to treat people in a “fair and reasonable” manner, arguing that the Competition and Markets Authority finding that people had overpaid by £1. ...
Share your horror stories to help end ticket rip-offs image
Source : Guardian [Read Article] Saturday 6th of May 2017 06:00:56 AM
.... Consumers would have been totally unaware of this because he was able to disguise his identity by using a nondescript company name. The Competition and Markets Authority is in the midst of an investigation into whether secondary sites are providing sufficient details about sellers, as well as information about where seats are located and what they cost. ...
Record number of UK care homes declared insolvent image
Source : Guardian [Read Article] Friday 5th of May 2017 06:25:50 AM
....The care home sector will be in the spotlight again later this month when the competition watchdog delivers its interim report. The Competition and Markets Authority is studying how the market works and whether there are grounds for consumer enforcement action. ...
Will Lloyds chief enjoy plain sailing or will he jump ship? | Nils Pratley image
.... With a 25% share of the UK retail market, the bank is currently playing in a league of its own and can expect to do so for years. The big danger passed last year, when the Competition and Markets Authority issued a woefully supine report that opted not to impose a structural shake-up on the sector, liberating Halifax from the Lloyds stable. ...
Car insurance model will not help energy market, says charity image
Source : Guardian [Read Article] Wednesday 26th of April 2017 02:52:40 PM
....Five of the big six have increased standard variable tariffs in recent months, with EDF raising them twice, prompting ministers to promise to save 17 million families £100 a year through a price cap. Scottish Power’s alternative proposal, similar to one previously put to the Competition and Markets Authority (CMA) by British Gas, received a warmer reception from analysts, personal finance experts and comparison sites. ...
Isle of Wight Festival takeover bid by Live Nation investigated image
Source : BBC [Read Article] Wednesday 26th of April 2017 09:47:24 AM
....The inquiry comes after bidder Live Nation said it had become the majority shareholder of the event in March. The Competition and Markets Authority (CMA) is investigating whether the takeover would lead to a "substantial lessening of competition". ...
Energy price cap image
Source : BBC [Read Article] Monday 24th of April 2017 11:52:31 AM
....We do not yet know the full details, but we do know that it would be imposed by the energy regulator Ofgem. The idea, already criticised by many in the industry, was also rejected by the Competition and Markets Authority (CMA) last summer. ...
Tory energy bill cap dents Centrica and SSE share prices image
Source : Guardian [Read Article] Monday 24th of April 2017 09:05:46 AM
....”. The Tory policy goes against the advice of the Competition and Markets Authority, which concluded in a review last year that a cap would “run excessive risks of undermining the competitive process, likely resulting in worse outcomes for customers in the long run”. ...
General Election 2017: Energy bill cap 'will hit consumers' image
Source : BBC [Read Article] Monday 24th of April 2017 07:29:03 AM
.... Earlier this month, Ofgem put a limit on prices that households with pre-payment meters are charged. Under this system, the Competition and Markets Authority has come up with an initial maximum figure for prices in each region of the UK, usually in line with the cheapest existing pre-payment meter tariff. ...
Bill sets out plan to tackle 'extortionate' UK overdraft fees image
Source : Guardian [Read Article] Sunday 23rd of April 2017 04:51:46 PM
....The FCA, the City watchdog, has included overdraft fees in a review into high interest loans, alongside payday loans and doorstep lending. It launched the review after the Competition and Markets Authority stepped back from imposing a cap on overdraft fees following its two-year investigation into high street banks. ...
Tory price promise image
Source : BBC [Read Article] Sunday 23rd of April 2017 01:59:35 PM
.... . "As Scottish Power recommended to the Competition and Markets Authority, a deadline should be set to abolish SVT so that all customers can engage even more in the competitive market. ...
Tories accused of stealing Labour's energy price cap promise image
Source : Guardian [Read Article] Sunday 23rd of April 2017 11:26:37 AM
....In 2013, after Labour announced the price freeze, Cameron accused Miliband of wanting to “live in some sort of Marxist universe in which it is possible to control all these things,” and said he “needs a basic lesson in economics”. Last June, the Competition and Markets Authority found the difference between the standard variable tariffs and the cheapest deals was as much as £320 a year. ...
General election 2017: Tories to pledge energy bill cap image
Source : BBC [Read Article] Sunday 23rd of April 2017 11:10:39 AM
....The manifesto pledge would outline plans to cap bills for seven out of 10 households paying standard variable tariffs, which are often criticised as bad deals for consumers by industry watchdogs. It follows the introduction of a cap for households using pre-payment meters early this month, after the Competition and Markets Authority released a report saying customers were overpaying by £1. ...
Inquiry into Murdoch's Sky deal delayed until after general election image
Source : Guardian [Read Article] Friday 21st of April 2017 11:30:59 AM
....Under government rules governing “purdah” – the period immediately before elections, which in this case is due to start at midnight on 21 April – Bradley is not allowed to make a decision on the report. “Given the proximity of this decision to the forthcoming general election and following discussions with the parties, Ofcom, the Competition and Markets Authority and the Cabinet Office propriety and ethics team I wrote to Ofcom and the CMA on Friday 21 April to extend the period by which these reports should be submitted to Tuesday 20 June,” said Bradley. ...
Government extends Sky takeover inquiry image
Source : BBC [Read Article] Friday 21st of April 2017 11:29:35 AM
.... Rupert Murdoch and his son Lachlan Murdoch are both joint chairmen of 21st Century Fox and News Corp, while his other son, James Murdoch, is chief executive of Fox. Ofcom and the Competition and Markets Authority were due to report back by 16 May. ...
Energy secretary to 'flex muscles' over rising bills image
Source : BBC [Read Article] Wednesday 19th of April 2017 10:49:17 AM
....The energy regulator Ofgem said that some of the price rises were hard to justify and Mr Clark has now told the Business Select Committee that the market is "clearly not working" for those on default tariffs. The government is due to respond to a two-year investigation by the Competition and Markets Authority (CMA) which found that two-thirds of UK households were paying "over the odds" for their energy compared with those who have switched to a different tariff. ...
Brexit, PPI and high cost credit are top priorities for City watchdog image
Source : Guardian [Read Article] Tuesday 18th of April 2017 05:32:29 PM
....”. The wide-ranging work of the FCA, which oversees 56,000 firms, will also involve looking at the business models of retail banks and “free banking” for current account customers who do not use unauthorised overdrafts following on from the Competition and Markets Authority investigation last year. ...
Care homes charging for rooms after residents die, watchdog finds image
Source : Guardian [Read Article] Monday 17th of April 2017 01:09:18 PM
....Care homes are charging families for weeks after the death of an elderly relative in some instances, prompting a string of complaints to the competition watchdog that is investigating the sector. The Competition and Markets Authority has received complaints about families being charged for sums that can amount to thousands of pounds to cover for the time it can take before a room can be relet. ...
Ticketmaster accused of not doing enough to thwart touts image
Source : Guardian [Read Article] Monday 17th of April 2017 12:55:39 PM
....”. The Competition and Markets Authority is looking into whether ticket resale sites are breaching consumer rights law by failing to publish sufficient detail about sellers. ...
Sky's 21st Century Fox takeover cleared by Europe image
Source : BBC [Read Article] Friday 7th of April 2017 02:37:06 PM
....UK Culture Secretary Karen Bradley has asked regulators to investigate the deal. Last month she told MPs that Ofcom, the media watchdog, and the Competition and Markets Authority, would report to her by 16 May. ...
Competition watchdog to examine warranties for new homes image
Source : Guardian [Read Article] Friday 7th of April 2017 06:30:36 AM
. The Competition and Markets Authority is examining payments between housebuilders and the providers of warranties for new homes as part of a review of NHBC, the largest warranty provider. ...
Energy price cap would damage competition, says SSE boss image
Source : Guardian [Read Article] Thursday 30th of March 2017 12:51:29 PM
....“Given the time it’s taken them to think about whatever they want to do they’re obviously being thoughtful. It’s probably slightly disappointing the CMA [Competition and Markets Authority, and its review] has not brought an end to where we stand in the market, but we need to get to the right place. ...
Price comparison sites given thumbs up by regulator image
Source : BBC [Read Article] Tuesday 28th of March 2017 10:15:21 AM
. Price comparison websites and apps bring "substantial benefits" to consumers, says the Competition and Markets Authority (CMA). ...
Viagogo's shady reputation grows as it shuns critics image
Source : Guardian [Read Article] Friday 24th of March 2017 06:02:46 PM
.... People who work in the building say the company moved out in January, leaving no forwarding address. Viagogo’s abrupt departure came just a month after the Competition and Markets Authority launched a probe into whether secondary ticketing companies are complying with consumer law. ...
Energy price cap implications ominous, former regulators say image
Source : BBC [Read Article] Thursday 23rd of March 2017 06:49:47 AM
.... . They questioned a core finding of the two-year Competition and Markets Authority's (CMA) energy market investigation - that the large firms were making excess profits to the tune of £1bn to £2bn a year. ...
Viagogo snubs MPs' inquiry into online ticket reselling image
Source : Guardian [Read Article] Tuesday 21st of March 2017 10:57:46 AM
....Galbraith said the companies omit this information because it would allow promoters and venues to cancel resold tickets. The Competition and Markets Authority is icurrently investigating whether companies are complying with the legislation. ...
SSE the latest ‘big six’ firm to put its prices up image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:00:32 AM
....Todd says a typical SSE standard tariff customer will pay £1,141 a year after this price rise, yet could get a deal as cheap as £834 a year by switching. A two-year investigation by the Competition and Markets Authority concluded last June that 70% of domestic customers of the big six were on expensive standard variable tariffs and could save more than £300 by switching. ...
Any old Joe image
Source : BBC [Read Article] Friday 17th of March 2017 10:00:40 PM
....However, there are other issues on the horizon that are harder to foresee. Last summer the Competition and Markets Authority (CMA) heralded the era of so-called open banking. ...
Fox takeover bid for Sky to be reviewed image
Source : BBC [Read Article] Thursday 16th of March 2017 11:37:23 AM
...."While the representations from 21st Century Fox highlighted areas where it contested the position taken in my minded-to letter, none of the representations have led me to dismiss the concerns I have regarding the two public interest grounds I previously specified," she said. "I am of the view that it remains both important, given the issues raised, and wholly appropriate for me to seek comprehensive advice from Ofcom on these public interest considerations and from the Competition and Markets Authority (CMA) on jurisdiction issues. ...
SSE to raise electricity prices next month image
Source : BBC [Read Article] Monday 13th of March 2017 09:52:44 AM
....Citizens Advice want households that receive the government's Warm Home Discount scheme to be protected from price rises too. Whether intervention is on the table should become clearer later this year when the government publishes its official response to the energy market investigation being undertaken by the Competition and Markets Authority. ...
Energy companies ‘ripping off’ millions, ministers say image
Source : Guardian [Read Article] Sunday 12th of March 2017 12:05:09 AM
....” Penrose will propose a new “relative price cap”, under which customers cannot be transferred to a new deal more than 6% more expensive than their expired one. A recent report into the energy market by the Competition and Markets Authority, commissioned by David Cameron before the 2015 general election, found customers had paid £1. ...
Most of us don’t change energy suppliers. We need to cap variable tariffs image
.... I would argue those people need extra protection. For instance, last year the Competition and Markets Authority provided help for people on costly pre-payment meters by capping their tariffs. ...
How free market helped big six energy firms to rack up huge profits image
Source : Guardian [Read Article] Sunday 12th of March 2017 12:05:09 AM
....So energy companies have little incentive to give the sticky 66% a good deal, which results in “excessive prices” generating about £2bn a year for the big six – British Gas, Scottish Power, EDF, SSE, Npower and E. ON – according to a landmark report by the Competition and Markets Authority last year. ...
Unlimited fines for bulk buying ticket touts image
Source : BBC [Read Article] Saturday 11th of March 2017 07:54:06 AM
....". In December, an enforcement investigation by the Competition and Markets Authority was launched into any suspected breach by this market. ...
21st Century Fox rejects Sky takeover bid concerns image
Source : BBC [Read Article] Thursday 9th of March 2017 12:59:32 AM
...."In fact, the level of scrutiny and controls we have imposed around the world were informed by the lessons learned in 2011," he said. A decision to intervene would not block the deal, but trigger an Ofcom assessment as well as a Competition and Markets Authority report to be considered by Ms Bradley. ...
Gina Miller urges FCA investigation into fund management 'price fixing' image
....1% less, investors would save £488m a year. “It is surely time for both the Financial Conduct Authority and the Competition and Markets Authority to investigate price fixing in UK retail actively managed investment funds,” Miller said. ...
Spring Budget 2017: Crackdown on 'subscription traps' planned image
Source : BBC [Read Article] Saturday 4th of March 2017 05:17:02 PM
....There will also be new powers to impose fines on companies that mistreat customers. And the government will allow consumer enforcement bodies such as the Competition and Markets Authority (CMA) to ask civil courts to order fines against companies, including those in unregulated markets, which breach consumer law. ...
UK pharma firms accused of illegal deals to hike price of life-saving drug image
....It is alleged that Actavis UK incentivised its rival Concordia not to enter the market with its own version of the tablets so that it could remain the sole supplier of the drug in the UK and charge higher prices. The agreements were made between January 2013 and June 2016, the Competition and Markets Authority (CMA) claimed, and enabled Actavis to increase the price it charged the NHS by 80% over the period from £49 to £88 per pack. ...
Sky takeover: Minister 'minded' to examine Fox takeover image
Source : BBC [Read Article] Friday 3rd of March 2017 12:54:43 PM
....Both Sky and Fox are controlled by businessman Rupert Murdoch, who also owns the Times and the Sun newspapers. A decision to intervene would not block the deal, but trigger an Ofcom assessment as well as a Competition and Markets Authority report to be considered by Ms Bradley. ...
NHS 'overcharged' by drug makers' non-compete deal, says CMA image
Source : BBC [Read Article] Friday 3rd of March 2017 08:39:04 AM
....Two pharmaceutical firms have been accused of pushing up the price of a "lifesaving" NHS drug by striking a deal not to compete with each other. The Competition and Markets Authority (CMA) said in provisional findings that Actavis and Concordia fixed the market for hydrocortisone tablets. ...
Overdraft charges are elephant in the room, say MPs image
Source : BBC [Read Article] Wednesday 1st of March 2017 02:41:57 PM
....The model of "free banking", whereby banks clawed back costs through overdraft charges, required "government or regulatory attention", it said. In its report on bank accounts published in August, the Competition and Markets Authority decided against a cap on charges. ...
Energy bills: are UK customers finally starting to switch supplier? image
Source : Guardian [Read Article] Monday 27th of February 2017 12:01:44 AM
....The competition watchdog’s decision not to impose price caps on energy bills has received backing from new data showing that the number of gas and electricity customers switching to a different provider rose by almost 30% in 2016. The Competition and Markets Authority (CMA) opted against wide-ranging curbs on bills last year following a two-year inquiry and instead recommended more action to encourage switching. ...

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