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Competition body to end long wait for new CEO

Competition body to end long wait for new CEO

Business
The year-long search for a new boss of the UK's competition regulator is close to concluding with a decision to appoint its acting chief to the role on a permanent basis.Sky News has learnt from sources in Whitehall that Greg Clark, the Business Secretary, has been told that Andrea Coscelli has emerged as a selection panel's preferred candidate to run the Competition and Markets Authority (CMA).The Department for Business, Energy and Industrial Strategy is expected to announce the CMA's new chief executive next month, and sources said Mr Coscelli now appeared to be "the odds-on favourite" to get the job."It would be astonishing if he didn't get it given the panel's recommendation," an insider said on Friday.Mr Coscelli, whose previous roles included running the CMA's markets and mergers di...
Online punters cheated out of winnings

Online punters cheated out of winnings

Business
Online punters are being cheated out of winnings they expected to receive, a City watchdog has found.The Competition and Markets Authority (CMA) said it is taking "enforcement action" against five online bookies - which it is not willing to identify at this stage - claiming punters are not getting a fair deal and companies are holding on to people's money.It comes amid an ongoing investigation into the £4.5bn sector following allegations that "confusing and unclear" terms and conditions - or mistakes - were being cited for cutting winnings.The CMA said it had heard from "around 800 unhappy customers" and has demanded companies answer questions about how they operate - particularly through their use of sign-up promotions - such as free bets.Sign-up promotions are designed to attract players
Leonardo, Hensoldt awarded $323 million U.K. IFF contract

Leonardo, Hensoldt awarded $323 million U.K. IFF contract

Business
June 22 (UPI) -- Leonardo and Hensoldt have received a joint $ 323 million contract from the British Ministry of Defense for upgrading Identification Friend or Foe systems.Leonardo and Hensoldt will be partnering on the program as "Team Skytale." The contract covers IFF upgrades fo 31 different vehicles used by the UK, including land, air, and sea platforms.The upgrade will convert the IFF systems of over 350 aircraft, ships, and ground-based air defense systems to the Mode 5 standard. All NATO nations are required to switch to the Mode 5 by 2020.The UK conversion will use Leonardo's M428 Transponder and SIT 2010 cryptographic computer, alongside Hensoldt's MSSR 2000 I and MSSR 1000 I interrogators.ILeonardo has already installed Mode 5 IFF systems on Britain's Eurofighter Typhoons and Que...
UK's expectations of Brexit talks 'unrealistic'

UK's expectations of Brexit talks 'unrealistic'

Business
The UK is unprepared and is entering Brexit talks with "unrealistic" expectations, according to a City economist.Malcolm Barr, who works for JP Morgan, one of the world's largest banking institutions, said of the Brexit negotiations: "I'm not convinced that (the UK is) really very well prepared at all, to be perfectly blunt."He told Sky's Ian King Live programme: "I think that some of the expectations which this administration has encouraged people to have about what can be delivered through the Brexit process are a little bit unrealistic, in terms of what the whole process can deliver and how quickly we can work through and actually be delivering the things we've said we want in terms of control of migration, control of our regulatory and legal structures."The idea that we're going to be ...