Latest news with #CompetitionandMarketsAuthority
Gulf Today
28-07-2025
- Entertainment
- Gulf Today
Tom Cruise spotted at Oasis comeback gig in London
Tom Cruise was among the celebrities spotted enjoying a night out at Oasis' Wembley Stadium comeback gig on Friday (25 July), the first of their five nights at the venue. The Mission: Impossible star, 63, turned up to watch Liam and Noel Gallagher reunite on the London stage in front of 90,000 fans for the first time in 16 years. Other famous faces spotted in the crowd included presenter Fearne Cotton, DJ Goldie, pop star Dua Lipa and her fiancé, actor Callum Turner. Cruise kept things low-key in the seated section, where he was seen with rapper Goldie, real name Clifford Joseph Price, who shared a selfie with the actor during the set. Lipa and Turner were spotted hanging out with Noel's daughter Anaïs Gallagher in the VIP section during Saturday night's show. Anaïs shared a video of the pair with their arms wrapped around each other, singing along to the 1996 hit 'Don't Look Back in Anger'. Also in attendance on Friday night were Cotton, presenter Rylan Clark, Davina McCall, comedian Rob Beckett and TV presenter Jeremy Kyle. Cotton posted about her experience on Instagram, saying it was 'magic' to see the band perform together. 'Liam was a wonderful tosser throughout. Exactly what you want,' she said. 'Brash, swearing, and in the best jacket and hat. Noel was magnificent on his solo songs and created the most gorgeous atmosphere. A night I won't forget.' When tickets for the Oasis reunion shows went on sale last summer, many were left outraged after some standard tickets in the UK and Ireland jumped from £148 to £355 due to 'dynamic pricing'. The controversy prompted the Competition and Markets Authority (CMA) watchdog to pledge to look at the use of the practice. Friday marked the first time the brothers had appeared together onstage at Wembley since 12 July, 2009, when they performed during their Dig Out Your Soul tour. As with previous gigs, Liam and Noel walked onstage hand in hand, opened with 'Hello' and proceeded to belt out many of their classics, including 'Some Might Say' and 'Morning Glory'. The Independent
UPI
23-07-2025
- Business
- UPI
Apple, Google face U.K. probe into mobile business practices
1 of 2 | The Google logo outside of Google New York Business Consulting in New York City in 2018. The United Kingdom's Competition and Markets Authority threatened to give Apple and Google Strategic Market Status, which would allow the regulator power to force the compaies to change policies. File photo by John Angelillo/UPI | License Photo July 23 (UPI) -- Britain's Competition and Markets Authority on Wednesday opened an investigation into Apple and Google over their mobile operating systems. The competition regulators are pushing Google and Apple to change their app stores to allow for more fairness for competitors. They also may give the two companies Strategic Market Status, which designates them as companies with "substantial and entrenched market power" and a "position of strategic significance" on digital activity in the U.K. The authority can force SMS companies to change their practices to allow more competition. Both companies balked at the investigation, saying the changes would affect user security and consumers. The segments the CMA is focusing on are mobile operating systems, native app distribution and mobile browsers and browser engines. The investigation, which began in January, looked at whether there are barriers that may hinder others from offering products and services on their mobile platforms. Another part looked at whether the two companies were using their positions as operating systems to favor their own apps and services. The third part of the probe is whether they require developers to agree to unfair terms and conditions to distribute their apps on the app stores. It also looked at the 30% commission charged by the companies on in-app purchases and restrictions on developers telling customers about cheaper ways to pay or subscribe. Developers expressed concern that Apple and Google could have access to commercially sensitive data of their competitors, the CMA said. Google's Android operating system has just over 61% market share in the U.K., while Apple's iOS has just over 38%, according to Kantar data, CNBC reported. Google runs the Google Play Store and Chrome browser, and Apple has its App Store and Safari browser. The regulator is looking at how Apple and Google can make it easier to avoid paying the app stores' fees. It's also searching for ways to simplify transferring data between iOS and Android, making switching easier.
23-07-2025
- Business
UK regulator seeks special status for Apple and Google that could mandate changes for Big Tech
LONDON -- Britain's antitrust watchdog has proposed labeling Google's and Apple's mobile ecosystems with 'strategic market status," which would mandate changes at the Big Tech companies to improve competition. The Competition and Markets Authority's announcement Wednesday follows separate investigations it opened at the start of the year into Google's Android and Apple's iOS, using newly acquired digital market regulations designed to protect consumers and businesses from unfair practices by Big Tech companies. The watchdog said Apple and Google hold an 'effective duopoly," with 90-100% of mobile devices in Britain running on either mobile platform. Its investigation found a range of concerns affecting businesses and consumers such as unpredictable app reviews, inconsistent app store search rankings and commissions on in-app purchases of as much as 30%. The CMA also unveiled separate 'roadmaps' for each company outlining possible measures to improve competition, including a 'fair and transparent' app reviews and app store rankings to give British app developers 'certainty.' Google called the watchdog's decision "disappointing and unwarranted," and said Android has saved app developers money because they didn't have to adapt to different operating models for each smartphone. It's 'crucial that any new regulation is evidence-based, proportionate and does not become a roadblock to growth in the U.K.,' the company's senior director of competition, Oliver Bethell, said. Apple did not immediately respond to a request from The Associated Press for comment early Wednesday.
Irish Examiner
22-07-2025
- Business
- Irish Examiner
Irish convenience food manufacturer Greencore raises profit forecast
Irish convenience food manufacturer Greencore has raised its profit expectations for the year driven by a strong performance over its most recent quarter, the company said in a trading update. According to the company, in the 13 weeks ending on June 27, revenue at the company increased 9.9% to £511.1m. Its food-to-go category saw revenue of £360.7m (€418.17m) up 9.2%, while revenue in its other convenience categories increased 11.4% to £150.4m Overall manufactured volume grew 3.6% during the period with volume growth 'encouraging' across most categories, particularly in sandwiches, sushi and ready meals, according to the company. The company said while it remains cautious around the uncertain UK economic environment, alongside continued inflationary pressures, it still revised upwards its adjusted operating profit guidance for the year which is now in the range of £118-121m. The company's previous guidance, issued on May 15, forecasted adjusted operating profit of between £114-117m for the year. Chief executive of Greencore Dalton Philips said the company delivered 'outstanding performance' with 'particularly strong volume momentum, aided by favourable summer weather and new business wins'. Looking into the current quarter, Mr Philips said that their focus remains on 'maintaining momentum'. 'While we are mindful of an uncertain economic backdrop and ongoing inflationary pressures, we now expect to deliver a full year adjusted operating profit of £118-121m, ahead of previous guidance,' he said. In April, Greencore agreed to buy rival Bakkavor valuing the company at $1.2bn. Bakkavor had already rejected at least two previous offers from Greencore. The company also said its proposed acquisition of Bakkavor continues to progress. 'We look forward to completing the value-creating acquisition of Bakkavor in early 2026, subject to regulatory approval, and will continue to update on progress in due course," Mr Philips said. The deal is still subject to regulatory approval, notably from the Competition and Markets Authority in the UK.
South Wales Guardian
15-07-2025
- Business
- South Wales Guardian
Housebuilders' £100m offer after probe ‘definitely looks dodgy', Parliament told
Critics at Westminster suggested the developers made the offer to halt the investigation by the Competition and Markets Authority (CMA) 'into potentially illegal collusion … that could have inflated house prices'. They argued the Government should insist on the watchdog completing its probe. Assurances were also sought that the housebuilders at the centre of the inquiry would not be involved in building the affordable homes funded by the payout, which would see the firms 'simply get their money back'. The CMA announced last week that Barratt Redrow, Bellway, Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and Vistry had offered the payment as part of a package of commitments to address concerns following the investigation, which was launched last year. The settlement, which is set to go into affordable housing programmes across the UK, would be the largest ever secured by the CMA through commitments from firms under investigation. The CMA will now consult on the commitments until July 24 and, if accepted, it will mean the regulator does not need to rule on whether the companies broke competition law. As well as the payment, the housebuilders have agreed legally binding commitments not to share commercially sensitive information with rivals, such as the prices that houses were sold for, except in 'limited circumstances', the CMA said. They also agreed to work with the Home Builders Federation and Homes for Scotland to develop industry-wide guidance on information sharing. The firms have said the offer of voluntary commitments does not mean they admit any wrongdoing. Speaking in the House of Lords, housing minister Baroness Taylor of Stevenage said: 'The £100 million additional funding proposed for affordable housing will mean more families can benefit from a safe and secure home.' But Liberal Democrat Baroness Thornhill, a vice president of the Local Government Association, said: 'There could be an alternative version to this – major housebuilders pay £100 million to halt the CMA's investigation into potential illegal collusion through the sharing of competitively sensitive information that could have inflated house prices. 'While this settlement might appear a pragmatic, cost-effective solution, would it not be more useful to have some evidence-led answers about whether the business models of the major developers are a significant factor in the slow delivery of housing? 'Therefore, should not the Government insist that the CMA actually completes its investigation, rather than allowing a financial settlement that obscures the fact and definitely looks dodgy?' Responding, Lady Taylor said: 'The CMA is continuing its work on this, and on July 9 it announced that it is consulting on its intention to accept commitments offered by the housebuilders in relation to the investigation. 'That consultation closes on July 25, and I have already set out some of the commitments that the seven companies have made. 'The £100 million payment, the largest secured through commitments from companies under investigation, will be split between affordable housing programmes across all our four nations. 'I hope that will make a significant contribution to delivering the affordable housing we all want to see.' Tory former housing minister Lord Young of Cookham said: 'If the Competition and Markets Authority confirms this £100 million payment for anti-competitive activity, can the minister give an assurance that none of the affordable homes to be built with that money will be built by the volume housebuilders responsible for this activity? Otherwise, they'll simply get their money back.' Lady Taylor said: 'I am sure that the Competition and Markets Authority, as part of its consultation, will be looking at the best way of distributing that money, so it is not just recycled to the people who caused the problem in the first place.' Liberal Democrat Lord Rennard said: 'The one-off payment of £100 million towards affordable housing is only about 3% of the operating profit of the five biggest housebuilders this year. Is this a relatively small penalty for them to pay for anti-competitive practices over many years?' Lady Taylor said: 'This is the biggest settlement ever achieved by the CMA.' She added: 'We have to consider what is appropriate in these circumstances. I am sure the CMA has done that.' A CMA spokesperson said: 'Our year-long study of the housing market found that the complex and unpredictable planning system, together with the limitations of speculative private development, was responsible for the persistent under-delivery of new homes in the UK. 'It was also clear that concerns about sharing of confidential information, while important, were not the main driver of the undersupply of housing. 'The £100 million payment we have secured for affordable housing would provide immediate benefits across the UK, without a lengthy further investigation. 'It is in line with fines levied in similar cases that have taken many years to conclude and comes alongside a set of commitments which fully addresses our competition concerns.' Bellway, which has agreed to pay £13.5 million, said: 'Bellway's offer of commitments does not constitute an admission of any wrongdoing, and the CMA has made no determination as to the existence of any infringement of competition law. 'Bellway welcomes the CMA's consultation on the voluntary commitments and will continue to work constructively with the CMA throughout the process.' Berkeley declined to comment.
