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Let's talk antitrust: Discussing recent cases and emerging competition issues
Recent cases and judgments have shone a light on some emerging themes and trends that companies will want to consider as part of their risk management framework.
Global | Publication | October 23, 2018
Last month marked the ten-year anniversary of the collapse of Lehman Brothers. We hosted a conference in our London office to discuss how the financial landscape has changed and what lessons have been learned (or not).
I had the pleasure to speak at the event along with Sarah Coucher, a restructuring partner in our London office, and our special guest, former UK cabinet minister Ed Balls. Ed gave his insights on the financial crisis from a UK perspective.
The financial crisis and the resulting Great Recession took a tremendous toll on the US: trillions of dollars of wealth were destroyed and nine million jobs lost. I addressed what things look like in the US ten years on from the demise of Lehman. And the economy looks upbeat indeed. Last month marked the longest bull market on record, with the S&P 500 Index hitting an all-time high. It has been a remarkable run since the end of the financial crisis with record level corporate earnings. Inflation has been manageable; unemployment is down from a high of 10% to its current level of 3.7%. The housing market is back with home prices up. The US economy seems to be churning at nearly full strength.
Yet there are some worrying signs that the lessons learned from the financial crisis are being forgotten with our surging economy. Three things in the US to be concerned about:
So, as we discussed at our conference in London last month, are we shunning financial prudence in the US and ignoring relevant lessons from the financial shocks of 2008? Time will tell.
On that upbeat note, I hope you find our latest issue of the International Restructuring Newswire to be of interest.
Howard Seife
Global Head
Financial Restructuring and Insolvency
Video
Recent cases and judgments have shone a light on some emerging themes and trends that companies will want to consider as part of their risk management framework.
Publication
After a lacklustre finish to 2022 when compared to the vintage year for M&A that was 2021, dealmakers expected 2023 to see the market continue to cool in most sectors, in response to the economic headwinds of rising inflation (with its corresponding impact on financing costs), declining market valuations, tightening regulatory scrutiny and increasing geopolitical tensions.
Publication
On 18 September 2023, the CMA published its Initial Report (Initial Report) on AI Foundation Models (FM), supplemented in April 2024 with the publication of its “Update Paper” focused on potential antitrust risks associated with FMs and a “Technical Update Report” providing more detail on the development on FMs (collectively the “Reports”). Below, we consider these CMA publications.
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