Broadband gloves are off: Virgin Media O2’s £31bn post-merger data war with BT’s EE has begun October 20, 2021 Virgin Media O2 has kicked off its expected broadband and mobile data battle with British Telecom, with analysts welcoming the increased competition. Customers of both Virgin Media and O2 will see their pay monthly mobile data allowance to be doubled, while broadband speeds will be upgraded to the next available tier, free of charge. It [...]
London business groups call on government to stop five per cent rail fare hikes in 2022 October 20, 2021 London business groups have called on the government to ensure rail fares do not surge next year on the back of above expected inflation, warning this would cripple the capital’s recovering economy. London First and the Centre for London said today that a 5 per cent rise in rail fares next year, which is the [...]
Exclusive: London holds the crown as the world’s greenest finance hub October 20, 2021 London reigns supreme as the world’s greenest finance hub, racing ahead of its European rivals to claim the sustainability crown. The City leapfrogged Amsterdam to nab top spot in a closely watched index ranking the world’s biggest finance hubs by their green credentials. The capital has the best sustainability standards in the world, hosting a [...]
Taxing times: Sunak to slim down Bank Surcharge October 19, 2021 The additional tax on banks is set to slashed in the Budget, a boost for the capital’s lenders. The Bank Surcharge, an eight per cent top-up to corporation tax levied on banks, will be reduced to three per cent in the upcoming budget according to the Financial Times. The Chancellor has previously signalled that the [...]
Procter & Gamble hikes prices further as freight costs continue to bite October 19, 2021 Procter & Gamble (P&G) will raise the prices of some of its grooming, oral and skin care products in the U.S. The consumer goods company will apply the increases to specific items such as razors alongside some sub-categories. The price hikes are to counter higher commodity and freight costs that are expected to take a [...]
Advisers call on FCA to strengthen investor protections following Woodford collapse October 19, 2021 Financial advisers have called on the City’s watchdog to impose stronger investor protections where illiquid assets are held in funds, drawing on lessons learned from the collapse of Neil Woodford’s flagship fund. Since the fund was shuttered by former star stockpicker Woodford in late 2019, the biggest lesson learned among financial advisers was to give [...]
Scottish Power: energy price cap not working October 19, 2021 The UK’s energy price cap is not working and the country is now paying the price, argues the boss of Spanish energy giant Iberdrola. Ignacio Galan, chief executive of Iberdrola, which owns Scottish Power, believed that the price cap is a short-term solution to protect consumers that has caused long-term damage to the market. He [...]
Competition watchdog clears way for $44bn S&P Global and IHS Markit merger October 19, 2021 The UK’s competition watchdog has cleared the way for a multi billion pound merger between two of the world’s leading data providers. The Competition and Markets Authority said today the $44bn tie up between IHS Markit and S&P Global could be allowed to go ahead if competition concerns were addressed. The CMA uncovered limited competition [...]
London markets muted as investors mull Bank of England’s next step October 19, 2021 London markets were muted during the opening session this morning as investors mull whether the Bank of England will hike interest rates next month. The capital’s FTSE 100 index inched down 0.02 per cent to 7,202.55 points during the first hour of trading. Several banking giants yesterday raised their forecasts for when the Old Lady [...]
Moneysupermarket acquires cashback platform Quidco October 19, 2021 Moneysupermarket.com has agreed to acquire the cashback website Quidco. Moneysupermarket.com Financial Group has agreed to buy all of the issued share capital of Maple Syrup Media, trading as Quidco, on a debt-free, cash-free basis. The initial consideration is £87m in cash with a further £14m deferred. Moneysupermarket.com said Quidco would benefit from its capabilities, including [...]