Agreements between firms not to hire each other’s workers have recently come under the radar of competition authorities, particularly in the USA. However, there is a question about whether labour markets come within the remit of competition authorities, and whether it is their role to intervene. If it is, how can tools developed in competition economics help in such cases?
The Chinese payments industry has recently experienced significant disruptions from technology companies Alipay and WeChat. Although consumer preferences and the regulatory environment have played an important part in the success of Alipay and WeChat Pay in China, many factors are also applicable in the European context. With technology companies now evaluating opportunities in the European payments market (most recently, Facebook’s Libra), what can the Chinese example tell us about its likely evolution?
In the EU, support provided by the state to finance projects operating in competitive markets typically needs to comply with state aid rules. However, there may be challenges in structuring project financing from the state in a way that is compliant with these rules. What are the fundamental elements to consider when assessing whether the funding confers an economic advantage on the recipient? What alternative financing structures could be considered?
The UK pharmaceutical industry, and in particular the generic medicines segment within it, has grown significantly in recent years. For example, the use of generic medicines has doubled between 2005 and 2017 to reach 75% of total prescriptions. At the same time, they account for only 28% of NHS spending on drugs valued at reimbursement prices.
Oxera’s expert evidence helps Vale to achieve a successful outcome in a multi-billion-dollar international arbitration. An LCIA tribunal, established in respect of the dispute between Vale (a Brazilian mining company) and BSG Resources (a mining company registered in Guernsey), has ruled in favour of Vale with an award of over US$1.2bn in damages. Together
Flood Re, a pioneering flood insurance levy scheme in the UK, is celebrating its third birthday. Since its launch in April 2016, the scheme has helped over 200,000 households, and is now increasingly looking at how it can help the market to transition to ensure that Flood Re is no longer needed by 2039. Aidan Kerr, Director of Operations at Flood Re, explains the scheme’s history and underlying social purpose
With modern society increasingly relying on large infrastructure projects, we look at the economics and financial considerations that underpin their development and delivery. Three particular aspects are explored: how to finance them, weigh their costs and benefits, and build in effective incentive properties
Investors’ holdings in multiple firms give rise to what is known as ‘common ownership’. Are the strategic decisions of competing firms affected by the presence of common ownership? Albert Banal-Estañol of Universitat Pompeu Fabra, Barcelona GSE and City University of London, and Melissa Newham and Jo Seldeslachts of DIW Berlin and KU Leuven, provide evidence on the impact that common ownership has on market entry, one of the most important strategic decisions that firms make, in US pharmaceutical markets
Oxera advises HKCC in precedent-setting caseOn 17 May 2019, the Hon. G Lam J, President of the Hong Kong Competition Tribunal (‘the Tribunal’), ruled in favour of the Hong Kong Competition Commission (‘HKCC’) in an enforcement action against ten construction companies.