AGP Executive Report
Last update: 7 hours agoTelecom Deal: BT and Verizon have agreed a 50:50 joint venture to combine their international business, creating a new company with about 3,000 customers across 180 countries and roughly $4bn annual revenue, with Verizon paying BT $625m; the deal needs regulatory approval and is expected to complete in 2027. App Developer Class Action: Google faces an 11-week UK trial from 28 September over claims it overcharged app developers via Google Play commissions, with damages sought of over £1bn and the case continuing on an opt-out basis. Consumer Finance Rules: The FCA proposes easing Consumer Duty scope by removing non-UK wholesale business where there’s no clear UK link, aiming to cut “gold-plating” and simplify insurance rules. Energy Bills: Ofgem’s price cap rises by £221 a year from 1 July to £1,862, with Martin Lewis urging people to consider fixes and even take meter photos. Food Safety Recalls: Tesco fridges/freezers failed in Colchester, forcing disposal of meat and chilled goods; meanwhile multiple supermarket items were urgently recalled after issues including undeclared milk and possible metal fragments. Advertising Watchdog: The ASA banned Adidas, Calvin Klein and Uniqlo ads over misleading “recycled” claims. Jobs and Restructuring: British American Tobacco plans to cut 9,000 roles as part of its Fit2Win cost overhaul, including outsourcing 3,500 jobs. Tax Deadline: HMRC warns Self Assessment customers to prepare for the 31 July second payment on account.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.