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BRITAIN’S competition watchdog yesterday announced it would not rule out ordering a break-up of the “big four” banks as it set out plans for a full-scale inquiry of the sector.
The Competition and Markets Authority (CMA) found measures to open up the market, dominated by Barclays, HSBC, Lloyds Banking Group and Royal Bank of Scotland, had not been effective enough.
It said key parts of banking lacked effective competition and failed to address the needs of personal consumers or small and medium-sized enterprises (SMEs).
Burnham urged to raise taxes on banks after Barclays reveals 30% rise in pre-tax profits
Trade unions call for windfall tax hike to fund social energy tariff to public’s energy bills
Friedrich Merz’s call for a new Plaza Accord ignores how Washington’s 1985 currency ambush destroyed Japan without fixing US deficits — China, a sovereign socialist state with 1.4 billion consumers, cannot be bullied the same way, writes CARLOS MARTINEZ
