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The Latest Breaking News from CMA

NortonLifeLock - Avast Deal Hits UK Antitrust Roadblock; Shares Dive

NortonLifeLock Inc's (NASDAQ:NLOK) $8.6 billion purchase of Avast PLC (OTC:AVTTY) (OTC:AVASF) hit a roadblock after Britain's antitrust regulator looked to launch a deeper investigation into the deal. NortonLifeLock in August proposed to acquire rival Avast in a cash-and-stock cyber deal to create a leader in consumer security software. Britain's Competition and Markets Authority (CMA) said the deal…

Benzinga

Greenwashing UK fashion firms to be named and shamed by watchdog

Crackdown on sweeping eco-friendly claims hoped to boost faith in genuine sustainable products

The Guardian - UK

UK has ‘sleepwalked’ into dysfunctional children’s social care market, says regulator

CMA finds local authorities are being forced to pay excessive fees for substandard privately run services

The Guardian - UK

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Competition watchdog clears Pennon's merger with Bristol Water

Bristol customers promised lower bills and membership of Pennon's share scheme after CMA approved £425m takeover

Birmingham Post

Competition watchdog probes Mitie over immigration centre contracts

The CMA said it is considering whether competition law has been breached over a procurement process for immigration removal centre contracts.

The Independent UK

Buyer of Three network owner to sell 1,000 mobile towers to allay price fears

Competition and Markets Authority said £8.6 billion European deal for CK Hutchison will only be allowed if it sells off parts of the network in UK.

The Independent UK

High Court rules Teletext Holidays broke law by withholding millions in holiday refunds

Travel giants Teletext Holidays and Alpharooms entered liquidation just before Christmas, affecting tens of thousands of holidaymakers who were still waiting on refunds from the start of the Covid outbreak

Daily Mirror

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Teletext Holidays broke consumer law over pandemic refund delays, court rules

The legal action was launched by the Competition and Markets Authority.

The Independent UK

Watchdog sticks nose into CVS deal amid concern at loss of independent vets

The group would dominate veterinary services in five areas if its takeover of The Vet goes ahead, the competition watchdog found.

The Independent UK

UK regulator joins five-nation effort against supply chain price hikes

UK, US, Canada, Australia and New Zealand team up to identify collusion between suppliers and shippers

The Guardian - UK

JD Sports profits rise to at least £900m as full-year results delayed

The retail giant was recently fined by the CMA

Birmingham Post

Where Comerica Stands With Analysts

Over the past 3 months, 9 analysts have published their opinion on Comerica (NYSE:CMA) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

Benzinga

JD Sports and Footasylum fined almost £5 million over ‘black hole’ car park meeting

JD Sports denies deliberately deleting phone records relating to the meeting

Evening Standard

JD Sports and Footasylum fined almost £5m for breaching CMA order

Breach included sharing of commercially sensitive information concerning blocked merger

The Guardian - UK

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The Independent UK

JD Sports and Footasylum fined almost £5m over breaching merger rules

The competition watchdog also accused the firms of deleting records related to meetings between the firms but JD fiercely refuted the claim.

Wales Online

JD Sports and Footasylum fined almost £5 million for breaching rules

"There is a black hole when it comes to the meetings held between Footasylum and JD Sports."

Birmingham Post

JD Sports and Footasylum fined almost £5m for breaking CMA order

JD Sports has previously been order to sell Footasylum over competition concerns

The Guardian - UK

Sony’s takeover of Awal provisionally cleared by UK regulator

CMA decides acquisition of artist service company won’t significantly affect competition

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AFP

Google agrees competition, privacy pledge over online ads

London (AFP) - Britain on Friday said it had accepted changes proposed by Google to address competition and customer privacy concerns linked to online advertising, with the US tech giant vowing to apply them globally.

The Independent UK

Competition watchdog accepts Google’s privacy changes

The Competition and Markets Authority (CMA) will oversee changes to the removal of third-party cookies from Google’s Chrome browser.

Daily Record

New campaign aims to help online shoppers spot subscription traps and dodgy selling tactics

The CMA found that seven out of 10 people have experienced potential rip-offs online.

Benzinga

Meta Agrees To Pay $2M Penalty To British Regulator

Britain's Competition and Markets Authority penalized Meta Platforms Inc (NASDAQ:FB) £1.5 million ($2 million) over new issues regarding its purchase of Giphy, Reuters reports. The CMA ordered Meta to sell animated images platform Giphy, which Mark Zuckerberg-led Facebook had acquired for a reported $400 million in May 2020, after concluding that remedies offered…

Wales Online

Meta fined by UK watchdog again over enforcement order breaches

Facebook's parent company has been told to pay a £1.5m fine for failing to alert the Competition and Markets Authority of a personnel change

The Independent UK

Meta fined for second time by watchdog for enforcement order breaches

The fine relates to enforcement orders linked to the Competition and Markets Authority’s investigation into Meta’s proposed takeover of Giphy.

The Guardian - UK

No 10 implicitly rebukes Bank of England chief over wage restraint call, amid unions anger – as it happened

Rolling coverage of the latest economic and financial news

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