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The British competition watchdog has blocked Microsoft’s bid to buy video game maker Activision Blizzard. The Competition and Markets Authority (CMA) stopped the $68.7bn (£55bn) deal due to concerns that it would stifle competition in the cloud gaming market. In its final report on Wednesday, the CMA said that the move was “the only effective
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Prime Minister Rishi Sunak has been challenged by the chairman of Burberry over the scrapping of VAT refunds for tourists. Gerry Murphy, who heads the luxury retailer, said that the “spectacular own goal” had made Britain the “least attractive” shopping destination in Europe. The conversation took place at a Business Connect conference, which saw around
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The scandal-hit CBI, Britain’s biggest employers’ group, says it has passed fresh information to the police relating to a report of a “serious criminal offence”. The body said it was “liaising closely” with officers as it remains mired by allegations of historic workplace misconduct. They culminated in chief executive Tony Danker being sacked earlier this
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The number of companies entering insolvency hit its highest level for more than three years in March, according to official figures. Commentators blamed a combination of higher interest rates and wider inflation for the 16% increase recorded last month across England and Wales. The Insolvency Service reported 2,457 corporate insolvencies – up from 1,784 in
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