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....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. ... [Read full article on BBC ]
Sunday 23rd of April 2017 11:10:39 AM
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.... 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. ... [Read full article on BBC ]
Friday 21st of April 2017 11:29:35 AM
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.... 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. ... [Read full article on BBC ]
Monday 24th of April 2017 07:29:03 AM
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.... . "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. ... [Read full article on BBC ]
Sunday 23rd of April 2017 01:59:35 PM
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....”. 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”. ... [Read full article on Guardian ]
Monday 24th of April 2017 09:05:46 AM
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....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. ... [Read full article on BBC ]
Monday 24th of April 2017 11:52:31 AM
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....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. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 02:52:40 PM
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....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. ... [Read full article on Guardian ]
Sunday 23rd of April 2017 04:51:46 PM
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....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". ... [Read full article on BBC ]
Wednesday 26th of April 2017 09:47:24 AM
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....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. ... [Read full article on Guardian ]
Friday 21st of April 2017 11:30:59 AM
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....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. ... [Read full article on Guardian ]
Sunday 23rd of April 2017 11:26:37 AM
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.... 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. ... [Read full article on Guardian ]
Thursday 27th of April 2017 07:15:03 PM
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Latest Finance News related to Competition And Markets Authority

Will Horta-Osório enjoy Lloyds' 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. ...
UK plans draft response to foreign takeovers after failed Unilever bid image
Source : Guardian [Read Article] Wednesday 22nd of February 2017 03:07:18 PM
....Stephen Martin, director general at the Institute of Directors, said the government was right to make sure there were checks and balances on foreign direct investment and takeovers. “However, the combination of shareholders, the Takeover Panel and the Competition and Markets Authority seems to us a good framework and government must be clear what the goal of any additional powers should be. ...
Convicted fraudsters sell Ed Sheeran tickets through Ticketmaster image
Source : Guardian [Read Article] Wednesday 22nd of February 2017 09:48:02 AM
....But the claim was immediately undermined as it emerged that nearly 200 fans who bought tickets via Seatwave to a Black Sabbath gig at the O2 arena were turned away after the venue detected fraudulent activity. GetMeIn and Seatwave have recently begun publishing sellers’ details, after the Competition and Markets Authority launched an inquiry into secondary ticketing sites and the secrecy afforded to touts who use them. ...
Heineken may not refresh the pubs other beers could reach, landlords fear image
Source : Guardian [Read Article] Thursday 16th of February 2017 09:23:59 AM
....The competition watchdog is to scrutinise Heineken’s planned £305m acquisition of 1,900 pubs from Punch Taverns, a deal that will make the Dutch brewer the UK’s third-largest pub group. The Competition and Markets Authority said it would assess whether the Heineken deal could reduce competition and choice for customers. ...
Banks charging up to £180 fees on £100 borrowing, Which? finds image
Source : Daily Express [Read Article] Wednesday 8th of February 2017 09:22:00 AM
....The Financial Conduct Authority (FCA) recently announced plans to put the high-cost credit sector under the spotlight, including overdrafts as well as payday lenders, pawnbrokers and firms offering rent-to-own credit on household goods. The Competition and Markets Authority (CMA) previously found poor price transparency surrounding overdrafts generally, particularly when a customer slips into an unarranged overdraft. ...
Ticket resale sites could face legal curbs as part of push to beat touts image
Source : Guardian [Read Article] Tuesday 7th of February 2017 07:01:07 AM
....Touts would also face more stringent requirements to publish their name and company details, under proposals to strengthen the Consumer Rights Act. The Competition and Markets Authority is already looking into whether touts are complying with existing provisions of the act, such as the requirement to publish the seat location and its face value. ...
New homes warranty firm pays millions to leading homebuilders image
Source : Guardian [Read Article] Sunday 5th of February 2017 05:26:47 PM
....”. The potential conflict of interest between NHBC paying compensation to consumers and returning cash to housebuilders will lead to more calls for the government to introduce an independent ombudsman to oversee complaints about new homes or for the Competition and Markets Authority to investigate NHBC’s dominance of the market. ...
War of convenience as supermarket chains take on small stores image
Source : Guardian [Read Article] Saturday 4th of February 2017 04:00:33 PM
.... In 2015, Booker bought the Budgens and Londis chains from Musgrave for £40m, bringing nearly 1,800 stores under its wing. Because of its size, the Tesco tie-up with Booker will automatically face the scrutiny of the Competition and Markets Authority (CMA), with the regulator expected to open its preliminary fact-finding investigation any day now. ...
Npower prices hike sparks crackdown threat against energy providers image
Source : Guardian [Read Article] Friday 3rd of February 2017 10:09:47 AM
....”. 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 to a cheaper deal. ...
Energy companies have 'abusive relationship' with customers, says MP image
Source : Guardian [Read Article] Tuesday 31st of January 2017 04:21:30 PM
....In a lively session with consumer groups and energy providers, MPs were focused on the findings of a two-year investigation into the energy market by the competition watchdog, which concluded last summer. The Competition and Markets Authority found that 70% of domestic customers of the big six companies – British Gas, EDF, E. ...
Has Vodafone finally got the right Idea in India? image
Source : Guardian [Read Article] Monday 30th of January 2017 07:07:50 PM
.... Both companies’ share prices fell – Tesco’s by 4%, reversing half of Friday’s gain. Clive Black, an analyst at Shore Capital, has coined the term “postcode analysis constipation” to describe an ailment that could afflict the Competition and Markets Authority in the months ahead. ...
Royal Albert Hall president to be grilled by MPs over ticket abuse image
Source : Guardian [Read Article] Sunday 29th of January 2017 05:39:12 PM
....The committee’s second session, expected to take place in early March, comes amid growing scrutiny of ticket touts and resale sites. The Competition and Markets Authority has launched a probe into whether touts are flouting the Consumer Rights Act 2015 by failing to publish their company details and information about the seat they are selling. ...
After the Italian job, BT boss must make sure success doesn’t blow up in his face image
....But aside from opportunities to cut costs – and bringing together some of the brightest minds in retailing – it is difficult to see how Booker makes Tesco a better retailer and how Tesco makes Booker a better wholesaler. Given that Tesco is the UK’s largest retailer and Booker owns convenience store brands Premier, Budgens and Londis, the Competition and Markets Authority will almost certainly have a look at the deal. ...
How ticket touts beat you to the punch ... and what you can do about it image
Source : Guardian [Read Article] Monday 23rd of January 2017 03:16:45 PM
....The Consumer Rights Act 2015 requires sellers to say who they are, publish contact details and list information such as the seat’s face value and its location. Until recently, when secondary websites were faced with a Competition and Markets Authority investigation, very few published this information. ...
Ticket touts rebrand as investigations put them in spotlight image
Source : Guardian [Read Article] Monday 23rd of January 2017 03:16:42 PM
....Some of the UK’s most prolific and successful ticket touts appear to be rebranding their organisations as the industry braces for investigations by the competition watchdog and the taxman in the UK. Moves among touts to alter their public profiles follow increased scrutiny, including an inquiry by the Competition and Markets Authority (CMA) into whether they are breaking the law by failing to disclose their identity on ticket resale sites. ...
Link cash machines may start charging because of row about network fees image
Source : Guardian [Read Article] Wednesday 18th of January 2017 01:10:13 PM
....The meeting is being held at a time of increased scrutiny of the sector by regulators, including the new Payment Systems Regulator. The Competition and Markets Authority has described the Link network as providing an “essential service for millions of customers”. ...
Hamilton West End tickets appear on resale sites despite anti-tout measures image
....Similar measures to stop touts were attempted by Adele for her recent tour, with only those with their names printed on the tickets supposedly allowed entry, but they still made their way on to resale sites for upwards of £8,000. Viagogo and other secondary sites such as StubHub, GetMeIn and Seatwave have come under increasing scrutiny in the past year, prompting the Competition and Markets Authority to announce an investigation into secondary ticketing last month. ...
Consumers urged to switch energy supplier image
Source : Guardian [Read Article] Monday 16th of January 2017 11:19:07 AM
.... Half are receiving offers direct from other suppliers, with the other half receiving a letter from Ofgem setting out cheaper deals from suppliers. The trial is a response to a call by the Competition and Markets Authority last year for a new database of customers who have been on standard variable tariffs for more than three years. ...
Joining a gym? Save pennies as you shed the pounds image
Source : Guardian [Read Article] Saturday 7th of January 2017 06:59:12 AM
....50 in Clubcard vouchers. The Office of Fair Trading and the Competition and Markets Authority have clamped down on some of the shadier gym practices of recent times, but you still need to be wary. ...
CMA voices concerns over Mastercard's Vocalink deal image
Source : Guardian [Read Article] Wednesday 4th of January 2017 02:29:56 PM
....The competition watchdog has raised concerns that a takeover of a payments system by Mastercard could have an impact on the Link cash machine network. The Competition and Markets Authority has given Mastercard a week to tackle its concerns that its takeover of Vocalink will restrict the number of companies able to provide systems to Link, which operates more than 70,000 automatic teller machines (ATMs) around the UK. ...
Mastercard's Vocalink buyout questioned by CMA image
Source : BBC [Read Article] Wednesday 4th of January 2017 08:22:09 AM
....The UK's competition watchdog has raised concerns over Mastercard's takeover of UK payments firm Vocalink. The Competition and Markets Authority (CMA) said there were worries regarding competition over the Link ATM network, which is run by Vocalink. ...
Chancellor failing to cancel ‘tax giveaway’ to banks, says Labour image
Source : Guardian [Read Article] Monday 2nd of January 2017 02:18:10 PM
....”. Britain’s competition watchdog, the Competition and Markets Authority (CMA), warned that the shift to the corporation tax levy would reduce the advantages of the tax system for smaller banks trying to break into the market. ...
Original concert ticket sellers also rip off buyers | Letters image
Source : Guardian [Read Article] Tuesday 27th of December 2016 06:10:40 PM
....There should be a reasonable flat fee for each ticket sold, and the price advertised should be the price you pay including the fee. The Competition and Markets Authority should be looking into how the original purchaser of tickets is being exploited by these companies alongside any investigation into resale websites. ...
Funfairs left with fewer new rides by trade body rules, CMA says image
Source : Guardian [Read Article] Wednesday 21st of December 2016 01:50:35 PM
....Restrictive practices by the trade body representing owners of fairground rides has left funfairs with fewer new attractions, the competition regulator has claimed. The Competition and Markets Authority (CMA) said on Wednesday that the law may have been breached by rules enforced by a trade body in the travelling fair sector, the Showmen’s Guild of Great Britain. ...
Co-op convenience store sell-off to McColl's approved image
Source : BBC [Read Article] Tuesday 20th of December 2016 09:19:16 AM
....Co-op's sale of 298 of its food stores to convenience chain McColl's has been approved by the competition regulator. McColl's said the final clearance from the Competition and Markets Authority would "substantially accelerate" its growth strategy. ...
Gig-goers must get resold ticket warning, says CMA image
Source : BBC [Read Article] Monday 19th of December 2016 11:50:36 AM
....Gig-goers should be warned that they may be turned away at the doors if they buy tickets from the secondary market, the competition authority has said. An investigation into the secondary tickets market has been launched by the Competition and Markets Authority (CMA). ...
Murdoch's £11.7bn Sky bid will face competition complaints from rivals image
Source : Guardian [Read Article] Friday 16th of December 2016 05:30:37 PM
....Rivals disagree, however, arguing that the Fox/Sky combination needs to be given tough scrutiny regardless of favourable decisions in recent years. They are expected to lodge their concerns with Brussels and the Competition and Markets Authority in the UK. ...
Energy bill SHOCK: EDF to HIKE electricity prices by 8.2 per cent image
Source : Daily Express [Read Article] Friday 16th of December 2016 04:40:00 PM
.... Around 200,000 pre-payment gas customers will get a 12. 9 per cent cut for three months from January before a price cap recommended by the Competition and Markets Authority takes effect. ...
Top model agencies agencies fined £1.5m for price-fixing image
Source : BBC [Read Article] Friday 16th of December 2016 12:01:28 PM
....5m for colluding to fix charges. The Competition and Markets Authority (CMA) said they "regularly and systematically" exchanged information and discussed prices. ...
UK model agencies found guilty of price-fixing image
Source : Guardian [Read Article] Friday 16th of December 2016 11:55:07 AM
....The UK competition regulator has fined FM Models, Models 1, Premier, Storm and Viva, along with industry trade body the Association of Model Agents (AMA), for price-fixing modelling services for at least two years from March 2013. The Competition and Markets Authority (CMA) found that the agencies and their association “systematically exchanged information and discussed prices”, in some cases agreeing to fix minimum prices or agree a common approach to pricing. ...
Drugs firms face fresh questions after Actavis accused of 12,000% price hike image
....A week after US giant Pfizer was slapped with a record fine of £84. 2m for alleged unfair price hikes, the Competition and Markets Authority accused another multinational, Actavis, of ramping up prices for life-saving hydrocortisone tablets from 70p a pack as of April 2008 to £88 by March 2016. ...
Actavis UK accused of overcharging NHS for vital drug image
Source : BBC [Read Article] Friday 16th of December 2016 07:32:35 AM
....Actavis UK has been accused of overcharging the NHS for a lifesaving drug by raising the price by more than 12,000%. The Competition and Markets Authority (CMA) has accused Actavis UK of breaking competition law by raising the price for 10mg hydrocortisone tablets from 70p to £88 over eight years. ...
Millions of British Gas and SSE customers urged to switch NOW image
Source : Daily Express [Read Article] Thursday 15th of December 2016 04:22:00 PM
...."As the Government has made clear, where markets are not working for consumers - in energy or otherwise - we are prepared to act. "In June the Competition and Markets Authority (CMA) warned in June that 70 per cent of people were on the more expensive default standard variable tariff, costing consumers £1. ...
Just Eat online takeaway service pays £200m for UK rival Hungry House image
Source : Guardian [Read Article] Thursday 15th of December 2016 01:52:06 PM
.... Just Eat said Hungry House would generate topline operating profits of £12m to £15m in 2017 excluding exceptional integration costs of about £1m. The Hungry House deal will have to be cleared by the Competition and Markets Authority (CMA). ...
Just Eat gobbles up Hungry House and SkipTheDishes image
Source : BBC [Read Article] Thursday 15th of December 2016 08:20:18 AM
....Just Eat said the acquisition would help to accelerate its growth. The deal must be approved by the Competition and Markets Authority. ...
UK failing to keep up with online consumer fraud, NAO warns image
Source : Guardian [Read Article] Thursday 15th of December 2016 12:01:25 AM
....The NAO found that although changes to commerce meant more consumer issues were happening at national and international levels, just 7% of local Trading Standards teams based their priorities nationally. It noted that the Competition and Markets Authority was also having a good impact, generating at least £74m of direct financial benefits to consumers each year at a cost of £6m. ...
Ofgem energy league table could save users hundreds of pounds image
Source : Guardian [Read Article] Wednesday 14th of December 2016 11:52:30 AM
....The government is also launching a call for evidence on allowing customers access to accurate electronic data on how much energy they use to enable them to share it securely with price comparison websites in return for individual quotes. The Competition and Markets Authority (CMA) warned in June that 70% of people were on the more expensive “default” standard variable tariff, costing consumers £1. ...
Energy customers could save £260 without switching, says Ofgem image
Source : BBC [Read Article] Wednesday 14th of December 2016 11:04:45 AM
...."We'd like to see energy companies do more off their own back to help customers who are on a low income, like moving them to a cheaper deal," said Gillian Guy, the chief executive of Citizens Advice. Meanwhile the Competition and Markets Authority (CMA) confirmed that is going ahead with plans to help the 10 million households which have been on standard tariffs for more than three years. ...
FCA to review 'close relationships' in mortgage market image
Source : Guardian [Read Article] Monday 12th of December 2016 03:30:50 PM
....The FCA aims to publish its interim findings next summer ahead of a final report in early 2018. Resulting action could range from market-wide remedies such as new rules or a referral to the Competition and Markets Authority, to measures aimed at one or more individual companies such as financial penalties. ...
Murdoch Sky bid: government faces urgent question image
Source : Guardian [Read Article] Monday 12th of December 2016 01:28:48 PM
....In November, Bradley said the government was reconsidering whether to start Leveson part two and launched a 10-week consultation into the extent of previous criminal investigations as well as the implementation of recommendations in part one of the report. The offer has sparked a major political row, with former Labour leader Ed Miliband calling on the prime minister, Theresa May, to refer the bid to Ofcom and the Competition and Markets Authority (CMA). ...

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