Business Economics and Market Competition
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Business Economics and Market Competition
Markets, Competition and Imperfect Competition covered here
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Levi Strauss to use lasers instead of people to finish jeans

Levi Strauss to use lasers instead of people to finish jeans | Business Economics and Market Competition | Scoop.it
The company has developed new software that works with lasers to speed up its jean-making process.
Geoff Riley's insight:
Capital labour substitution at work here as Levi Strauss brings laser technology to the job of finishing jeans including the ageing process and the obligatory rips.
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How big business shares the profit pie

How big business shares the profit pie | Business Economics and Market Competition | Scoop.it
The theory of competition in markets has been well defined, but to what extent does it hold in practice?
Geoff Riley's insight:
Excellent reading for students interested in the economics of natural monopolies, competition, economic efficiency and welfare.
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Drug firm Concordia overcharged NHS with 6,000% price rise, says CMA

Drug firm Concordia overcharged NHS with 6,000% price rise, says CMA | Business Economics and Market Competition | Scoop.it
CMA accuses Canadian firm of overcharging by £100m on thyroid drug with price per pack rising from £4.46 to £258 in 10 years
Geoff Riley's insight:
One of those competition policy stories that is almost guaranteed to make you angry. The pharmaceutical firm Concordia is accused by the Competition and Markets Authority of an abuse of market dominance. How was this not spotted if  - an alleged - the over-charging lasted up to a decade?
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Ikea raises UK prices after imports price hike

The flat-pack furniture giant says prices went up by 3.6% in some areas to counter a 13.7% jump in the cost of imports.
Geoff Riley's insight:
A good example here of a business raising their prices following an increase in import costs after the depreciation of sterling against the Euro and US dollar in the wake of the June 2016 Brexit vote. IKEA remains highly profitable. But note their focus on climbing towards a 15% global furniture market share objective over the next decade.
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Move over Starbucks: the indie coffee shops battling it out on the high street

Move over Starbucks: the indie coffee shops battling it out on the high street | Business Economics and Market Competition | Scoop.it
It’s flat whites at dawn as entrepreneurs line up to cater to the nation’s growing passion for coffee
Geoff Riley's insight:
The number of coffee shops in the UK increased by over 6% last year - are we close to saturation point? Or will more entrepreneurs enter a space where non-price competition is so important?
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How the UK came to adore branded wine Le Piat d’Or

How the UK came to adore branded wine Le Piat d’Or | Business Economics and Market Competition | Scoop.it
It was 1974. The UK market for wine was beginning to move. Branded contenders were making swift headway amongst unsophisticated UK wine drinkers. Key contenders were German, Blue Nun and Black Towe…
Geoff Riley's insight:
great story of the emergence of an iconic brand in the 1970s
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Flights axed as Monarch ceases trading

Flights axed as Monarch ceases trading | Business Economics and Market Competition | Scoop.it
The government says 110,000 customers currently abroad will be flown back to UK on chartered planes.
Geoff Riley's insight:
This is the biggest ever UK airline failure
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Tata Steel to merge European operations with ThyssenKrupp

Tata Steel to merge European operations with ThyssenKrupp | Business Economics and Market Competition | Scoop.it
Creation of Europe’s second largest steel group likely to lead to about 4,000 job losses but helps safeguard Port Talbot site
Geoff Riley's insight:
A 50/50 joint venture between leading German and Indian steel makers to help sustain steel production in Europe. Some job losses are inevitable but will more be saved in the long run as a result of this consolidation?
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Big pharma turns to AI to speed drug discovery

Big pharma turns to AI to speed drug discovery | Business Economics and Market Competition | Scoop.it
The world's leading drug companies are turning to artificial intelligence to improve the hit-and-miss business of finding new medicines, with GlaxoSmithKline unveiling a new $43 million deal in the field on Sunday.
Geoff Riley's insight:
The fixed / overhead costs and time lags in getting new tested and accepted drugs to market are enormous. Could the use of artificial intelligence and machine learning help to speed up the process?
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Thames Water fined £8.55m for failing to stop leaks - BBC News

Thames Water fined £8.55m for failing to stop leaks - BBC News | Business Economics and Market Competition | Scoop.it
Ofwat issues the maximum penality allowed for its "unacceptable" failure to meet a key target.
Geoff Riley's insight:
Good contextual example to use of how regulators can impose fines on utilities that fail to meet legal targets
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Greggs opens first drive-thru

Greggs opens first drive-thru | Business Economics and Market Competition | Scoop.it

You can now go on an iced bun run without getting out of your car
Geoff Riley's insight:
Non-price competition at work - a Greggs drive-thru - what a time to be alive!
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View from the Top: Josh Bayliss, CEO of Virgin Group

Josh Bayliss flies overnight on Virgin Atlantic’s red-eye from New York and looks as fresh as a daisy. Bayliss spends half his life flying around the world checking on the 80 or so Virgin companies in 34 countries of which he is the boss.

Geoff Riley's insight:
Overcoming the principal agent problem!
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What does it take to destroy a company's brand name? - BBC News

What does it take to destroy a company's brand name? - BBC News | Business Economics and Market Competition | Scoop.it
What changes a corporate branding disaster from being a costly and damaging affair, to one with fatal consequences for the company concerned?
Geoff Riley's insight:
Brand value takes a long time to build but in some cases can be eroded or destroyed in a matter of days or weeks. This BBC news article provides some timely examples!
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Boeing Is Killing It by Squeezing Its Suppliers

Boeing Is Killing It by Squeezing Its Suppliers | Business Economics and Market Competition | Scoop.it
Under CEO Dennis Muilenburg, the industrial giant has turned unapologetically hard-nosed.
Geoff Riley's insight:
Does monopsony power hurt consumer welfare in the long run? Most companies would argue that building and maintaining strong relationships with suppliers is key to their commercial sustainability. Putting the squeeze on suppliers by cutting their margins is equivalent to biting the hand that feeds you?
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Blockbuster deal as Cineworld buys Regal

Blockbuster deal as Cineworld buys Regal | Business Economics and Market Competition | Scoop.it
The $3.6bn (£2.7bn) takeover will create the second largest cinema chain in the world.
Geoff Riley's insight:
Horizontal integration in the cinema industry as Cineworld busy Regal to establish the second biggest cinema operator globally. It is a sizeable bet given increasing competition from online streaming businesses such as Amazon and Netflix. Many cinemas these days are diversifying out of purely screening films to the conference industry and arenas for people to watch (and perhaps participate) in e-sports.
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CMA clears Just Eat / Hungryhouse merger

CMA clears Just Eat / Hungryhouse merger | Business Economics and Market Competition | Scoop.it
The Competition and Markets Authority (CMA) has cleared Just Eat’s acquisition of Hungryhouse, following an in-depth phase 2 investigation.
Geoff Riley's insight:
A great competition policy applied example! The Competition and Markets Authority (CMA) has cleared Just Eat’s acquisition of Hungryhouse, following an in-depth investigation. They refer to the fast-changing nature of competition in the industry notably the emergence of new (and scaled) players in the sector such as Deliveroo, UberEATS and Amazon. 
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Airbus secures $49.5bn aircraft deal

Airbus secures $49.5bn aircraft deal | Business Economics and Market Competition | Scoop.it
Airbus has struck its biggest single deal with an order for 430 aircraft worth $49.5bn
Geoff Riley's insight:
A terrific example here of the balance of bargaining power when a duopolist (Airbus) meets a business owning a group of low-cost airlines (monopsony buying power) to reach a deal for 430 aircraft worth - at list price - nearly $50 billion.
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The golden age of internet transparency is collapsing – and no one wants to regulate for the strangest reasons

The golden age of internet transparency is collapsing – and no one wants to regulate for the strangest reasons | Business Economics and Market Competition | Scoop.it
The golden promise of the internet was the creation of an Eden of transparency and efficiency. We would be able to compare prices for all manner of goods and services at the click of a mouse button. It would complete markets and empower customers. To an extent the promise has been fulfilled. Anyone old enough to remember what it was like searching for an out-of-print book or reserving a flight before the days of the internet will know what technological progress feels like.
Geoff Riley's insight:
"The internet means an intensification of competition for providers of all goods and services except, ironically, for platforms themselves. Once a platform has established itself, it can have a largely unassailable competitive position."

Excellent article on competition / monopoly issues on network platforms such as Google, Netflix, Amazon and Facebook.
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Japan firm fined for excessive overtime

Japan firm fined for excessive overtime | Business Economics and Market Competition | Scoop.it
Dentsu's workplace practices have come under scrutiny after a young employee killed herself in 2015.
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GAFA Market Power continues to Grow | tutor2u Economics

GAFA Market Power continues to Grow | tutor2u Economics | Business Economics and Market Competition | Scoop.it
This FT interview looks at the rising market power of the GAFA platform businesses - Google, Amazon, Facebook and Apple. The argument is made that many of…
Geoff Riley's insight:
This FT interview looks at the rising market power of the GAFA platform businesses - Google, Amazon, Facebook and Apple. The argument is made that many of these companies build their profits around data that we give them for free. Are they really the engines of innovation that their senior executives might want us to believe?
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Toys ‘R’ Us Plans Bankruptcy Filing Amid Debt Struggle

Toys ‘R’ Us Plans Bankruptcy Filing Amid Debt Struggle | Business Economics and Market Competition | Scoop.it
Toys “R” Us Inc., which has struggled to lift its fortunes since a buyout loaded the retailer with debt more than a decade ago, is preparing a bankruptcy filing as soon as today, according to people familiar with the situation.
Geoff Riley's insight:
Heavily in debt - the business has paid out nearly half a billion US $ in interest payments in the last decade - and under pressure from online retailers, Toy R Us looks set to apply for Chapter 11 bankruptcy in the coming days.
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The age of the Microsoft and Amazon economy

The age of the Microsoft and Amazon economy | Business Economics and Market Competition | Scoop.it
The age of the Microsoft and Amazon economy
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The snacks boss with an appetite for success

The snacks boss with an appetite for success | Business Economics and Market Competition | Scoop.it
How popular snack food business Graze was successfully grown by its chief executive Anthony Fletcher.
Geoff Riley's insight:
Really interesting for those studying organic growth and the importance of constant iteration of the product offering in response to consumer feedback.
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Heidi Klum to launch fashion range with Lidl

Heidi Klum to launch fashion range with Lidl | Business Economics and Market Competition | Scoop.it
The supermarket chain remains tight-lipped about the specifics of the collection, but says it will be "accessible for everyone".
Geoff Riley's insight:
Lidl launching an accessible clothing range is note-worthy - targeting Asda and Sainsbury's no doubt especially for low priced children's clothing suitable for everyday wear.
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Is Google a Natural Monopoly

Is Google a Natural Monopoly | Business Economics and Market Competition | Scoop.it
Google is poised to get approximately 78% of total US search ad revenues in 2017
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