Business
MPs back Doug Gurr for CMA chair but demand safeguards over conflicts and independence
MPs have approved Doug Gurr as fit to become the next permanent chair of the Competition and Markets Authority (CMA), but warned ministers that additional safeguards are needed to protect the regulator’s independence and address potential conflicts of interest.
In a report published on Thursday following a pre-appointment hearing earlier this week, the House of Commons Business and Trade Committee said it was satisfied that Mr Gurr has “the professional competence and independence required” to take on the role as defined by the Government. However, the committee stressed that serious concerns remain about the context of his appointment and the broader direction of competition policy.
Mr Gurr, a former senior executive at Amazon, was questioned extensively by MPs about his ability to act independently, particularly given the circumstances surrounding the removal of the previous chair amid pressure to align the watchdog more closely with the Government’s pro-growth agenda. Committee members made clear that the CMA must not prioritise investment or consolidation over consumer welfare, warning that growth cannot come at the expense of competition.
MPs also expressed unease about potential conflicts of interest arising from Gurr’s long and senior career at Amazon, one of the world’s largest technology companies and a business that could fall within the CMA’s new digital market regime. The committee suggested ministers consider whether he should recuse himself from any future decision about designating Amazon with Strategic Market Status under the Digital Markets, Competition and Consumers Act 2024.
The hearing also became a wider examination of the CMA’s recent performance. MPs noted that staff numbers at the regulator have almost doubled over the past decade, yet competitive pressures in the UK economy have not improved. They criticised what they described as slow market investigations during the cost-of-living crisis and weak enforcement action in certain high-profile cases.
Concerns were also raised about the CMA’s handling of digital competition issues, including delays in seeking remedies from Google over its relationship with news publishers and the limited commitments secured from Google and Apple regarding their mobile ecosystems. The committee questioned whether the watchdog had been sufficiently assertive in deploying its new statutory powers.
Internal challenges within the CMA were also highlighted. A recent budgeting error forced a 10 per cent reduction in staff, and internal surveys suggest that only around a quarter of employees expect to remain at the organisation for the next three years. MPs indicated that rebuilding morale and confidence inside the regulator would be a significant task for the new chair.
Another issue scrutinised during the hearing was the time commitment attached to the role. The CMA chair is currently expected to dedicate two days a week to the position. The committee questioned whether that allocation is sufficient for a regulator operating at the centre of politically sensitive and economically significant decisions, particularly during periods of crisis or intense scrutiny.
While the committee ultimately endorsed Mr Gurr’s appointment, it warned that it is “not the hallmark of a robust recruitment process” to have secured only one appointable candidate for such a critical role.
Liam Byrne, the committee’s chair, said the CMA sits at the heart of whether markets work for consumers or against them. He said that although Mr Gurr is professionally competent to take on the job, ministers must take steps to maximise confidence in the appointment.
“Growth cannot mean greater concentration,” Byrne said. “Investment cannot come at the expense of consumer welfare. And operational independence must be protected in fact, not just in theory.”
The final decision now rests with the Business Secretary, but the committee’s report makes clear that Parliament will be watching closely to ensure that the CMA remains an independent and effective guardian of competition in the UK economy.
Paul Jones
Harvard alumni and former New York Times journalist. Editor of Business Matters for over 15 years, the UKs largest business magazine. I am also head of Capital Business Media’s automotive division working for clients such as Red Bull Racing, Honda, Aston Martin and Infiniti.
Advanced Micro Devices Inc. (NASDAQ: AMD) shares fell sharply in late February trading, dipping below $203 amid broader semiconductor sector volatility and investor digestion of recent gains tied to artificial intelligence demand.
As of midday Feb. 26, 2026, AMD stock traded around $202.50, down approximately 4% from the previous close of $210.86. The decline placed the shares well off the 52-week high of $267.08 reached in late 2025, though still significantly above the 52-week low of $76.48. Trading volume exceeded 20 million shares in early sessions, reflecting heightened investor interest.
AFP
The pullback comes despite positive developments in AMD’s AI chip business. On Feb. 24, the company announced a major multi-year deal to supply up to $60 billion worth of artificial intelligence accelerators to Meta Platforms Inc. over five years. The agreement allows Meta to acquire as much as 10% of AMD’s equity under certain conditions. News of the partnership initially propelled shares higher, with gains of more than 8% in one session to around $213.84.
Analysts viewed the Meta deal as a validation of AMD’s growing presence in the data center AI market, where it competes directly with Nvidia Corp. The transaction follows AMD’s push into high-performance computing with its Instinct series GPUs and EPYC processors.
“AMD is accelerating adoption of its high-performance EPYC and Ryzen CPUs while rapidly scaling its data center AI franchise,” AMD Chair and CEO Lisa Su said in recent statements highlighting momentum entering 2026.
The company’s latest financial results, reported Feb. 3, underscored robust growth. For the fourth quarter of 2025, AMD posted record revenue of $10.3 billion, up 34% year-over-year. Gross margin reached 54% (57% non-GAAP), operating income hit $1.8 billion ($2.9 billion non-GAAP), and net income stood at $1.5 billion ($2.5 billion non-GAAP). Diluted earnings per share were $0.92 ($1.53 non-GAAP), surpassing analyst expectations.
Full-year 2025 results showed record revenue of $34.6 billion, with non-GAAP operating income of $7.8 billion and diluted EPS of $4.17. The data center segment, fueled by AI demand, drove much of the performance.
Management expressed optimism for 2026, forecasting significant top- and bottom-line growth. Executives projected a 60% compound annual growth rate in data center revenue over the coming years, supported by hyperscaler spending. Major cloud providers, including Meta, Amazon and Alphabet, plan hundreds of billions in capital expenditures for AI infrastructure in 2026, creating opportunities for AMD’s offerings.
Despite these tailwinds, shares have retreated about 18% in the past month. Some investors appeared to take profits after the post-earnings surge and subsequent deal announcement. Broader market concerns, including interest rate uncertainty and competition in AI chips, contributed to the pressure.
Analysts remain largely bullish. Consensus price targets hover around $285 to $286, implying substantial upside from current levels. Bank of America recently adjusted its target following the Meta news, while other firms highlighted AMD’s competitive positioning against Nvidia in cost-effective AI solutions.
The company continues innovating in AI hardware. Partnerships, such as the Helios rack-scale system developed with Meta through the Open Compute Project, position AMD to challenge Nvidia’s dominance in data center deployments. Initial shipments of advanced systems are expected later in 2026.
AMD’s broader portfolio includes Ryzen processors for consumer and enterprise markets, where demand remains steady. The company benefits from trends in personal computing, gaming and embedded systems.
Investors monitor upcoming catalysts, including progress on the Meta deal, new product launches and quarterly guidance. With AI infrastructure spending projected to rise sharply, AMD appears well-placed for multi-year expansion, though near-term volatility persists in a competitive landscape.
Market capitalization stands at approximately $330 billion to $344 billion, depending on intraday fluctuations. The price-to-earnings ratio remains elevated, reflecting growth expectations in the AI era.
As the semiconductor industry navigates rapid technological shifts, AMD’s trajectory hinges on execution in capturing AI market share while maintaining profitability. The recent stock dip may represent a buying opportunity for long-term investors betting on sustained data center growth.
FOX Business’ Jeff Flock joins ‘Mornings with Maria’ live from Austin, Texas, showcasing 3D-printed homes.
Mortgage rates fell below 6% this week for the first time in three and a half years, mortgage buyer Freddie Mac said Thursday.
Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage fell to 5.98% from last week’s reading of 6.01%.
The average rate on a 30-year loan was 6.76% a year ago. It was most recently under 6% on Sept. 8, 2022, at 5.89%.
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The average rate on a 30-year fixed mortgage fell to 5.98% from last week’s reading of 6.01%. (David Ryder/Bloomberg via Getty Images)
“This rate, combined with the improving availability of homes for sale, is meaningful and will drive more potential buyers into the market for spring homebuying season,” said Sam Khater, Freddie Mac’s chief economist.
The average rate on a 15-year fixed mortgage increased to 5.44% from last week’s reading of 5.35%.
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Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.02% as of Thursday afternoon.
Realtor.com economist Jiayi Xu said the dip in rates comes in the wake of the Supreme Court’s ruling against the Trump administration’s use of emergency tariff powers.
US HOME PRICES ARE RISING – BUT THESE FAST-GROWING MARKETS REMAIN AFFORDABLE
The average rate on a 15-year fixed mortgage rose to 5.44% from last week’s reading of 5.35%. (Mike Blake/Reuters)
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“This legal tug-of-war has triggered a flight to safety among investors, pushing bond prices higher and yields lower, helping mortgage rates settle around 6%,” Xu said. “However, as this week’s decline stems from market volatility rather than fundamental economic data, more supportive economic data is needed to establish a consistent trend.”
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State Farm on Thursday announced a historic $5 billion dividend for its car insurance members, the largest in the mutual insurance company’s 103-year history.
“This dividend is possible due to State Farm Mutual’s financial strength and a stronger than expected underwriting performance, which has been reported industry wide,” the company said in a statement.
Customers can expect to receive $100 refund on average, though State Farm says it will vary by state and by the amount of premium paid.
State Farm reports it has also lowered premiums by about 10% across 40 states, totaling $4.6 billion in lower costs for customers.
That’s a trend across the motor vehicle insurance industry. Auto repair costs are starting to decline, and the frequency of accidents declined in 2025.
But car insurance premiums have soared. By early 2025, rates had climbed by more than 50% over three years, according to the Bureau of Labor Statistics, the highest inflation for motor vehicle insurance in 50 years.
Affordability became a primary concern for many customers and led them to shop around for better deals.
TransUnion recently issued a report showing insurance shopping has become a routine activity for consumers, rather than a rare event prompted by a new car or home purchase.
“At this point we can safely say that regular insurance shopping is just the new normal,” Patrick Foy, the senior director of strategic planning for TransUnion’s insurance business, told CNBC in an interview.
The report noted that the main drivers behind the rate shopping are economic pressures pushing consumers to find ways to reduce household expenses. At the same time, insurers are investing heavily in marketing and setting competitive rates.
Travelers, Berkshire Hathaway’s Geico, Root and Chubb compete with State Farm and USAA and other mutuals, where customers are also shareholders.
Progressive in particular has been pressuring State Farm’s dominance in auto and was among major auto insurers announcing significant financial returns to customers in 2025. The company paid a billion dollars in dividends to its customers in Florida, where state laws require insurers to return excess profits.
USAA announced a $3.8 billion payout to its members across states in 2025.
The auto insurance business represents 63% of State Farm’s property and casualty insurance business. Customer loyalty in auto insurance often leads to loyalty in homeowner’s insurance too, where State Farm told CNBC, it is not seeing its claims costs subsiding and it’s still working to charge adequate rates to compensate.
Instagram will begin notifying parents if their teenagers repeatedly search for suicide or self-harm related content, marking the first time owner Meta has proactively flagged search behaviour rather than simply blocking it.
From next week, parents and teenagers enrolled in Instagram’s “Teen Accounts” supervision programme in the UK, US, Australia and Canada will receive alerts if a young user searches for harmful terms within a short period of time. The feature will be rolled out globally at a later stage.
Previously, Instagram restricted access to certain harmful material and redirected users to support resources. The new measure goes further by directly alerting parents via email, text message, WhatsApp or within the Instagram app itself, depending on available contact details.
Meta said the alerts are designed to flag sudden changes in search patterns that may indicate distress. Notifications will be accompanied by guidance and expert-backed resources to help parents navigate what are likely to be sensitive conversations.
The move has been met with sharp criticism from the Molly Rose Foundation, established by the family of Molly Russell, who died in 2017 aged 14 after viewing self-harm and suicide content online.
Chief executive Andy Burrows described the announcement as “fraught with risk”, warning that “forced disclosures could do more harm than good”.
“Every parent would want to know if their child is struggling,” Burrows said, “but these flimsy notifications will leave parents panicked and ill-prepared to have the sensitive and difficult conversations that will follow.”
He added that the onus should be on preventing harmful content from appearing in the first place, rather than shifting responsibility onto families after the fact.
The foundation previously published research claiming Instagram was still actively recommending content related to depression, suicide and self-harm to vulnerable young people. Meta rejected those findings, saying they misrepresented its safety efforts.
Ged Flynn, chief executive of Papyrus Prevention of Young Suicide, welcomed the attempt to increase transparency but argued that it did not address deeper systemic issues.
“Parents contact us every day to say how worried they are about their children online,” he said. “They don’t want to be warned after their children search for harmful content, they don’t want it to be spoon-fed to them by unthinking algorithms.”
‘Erring on the side of caution’
Meta said the system is designed to “err on the side of caution” and acknowledged that parents may occasionally receive alerts even when there is no serious cause for concern.
The company said the feature builds on broader Teen Account protections, which include automatically limiting exposure to sensitive material, restricting who can contact teens, and blocking certain harmful searches outright.
Two in-app screenshots released by Meta show alerts titled “Alert about your teen’s safety” followed by a screen offering advice on “How you can support your teen”.
Sameer Hinduja, co-director of the Cyberbullying Research Center, said the impact of the new feature would depend heavily on the quality of guidance provided alongside the alert.
“You can’t drop a notification on a parent and leave them on their own,” he said. “What matters is the immediate support and context that follows.”
Meta also confirmed that it plans to introduce similar parental alerts in the coming months if teenagers discuss self-harm or suicide with Instagram’s AI chatbot. The company said young people are increasingly turning to AI tools for advice and emotional support.
The expansion comes amid heightened scrutiny of social media companies’ impact on children’s mental health.
Australia recently passed legislation banning social media access for under-16s, while policymakers in Spain, France and the UK are considering similar measures. In the US, Meta chief executive Mark Zuckerberg and Instagram head Adam Mosseri have faced legal challenges and congressional hearings over allegations the company’s platforms were designed to attract and retain younger users.
For now, Instagram’s new alert system represents a shift in Meta’s child-safety strategy — moving from passive content restriction to active parental notification. Whether that approach proves protective or problematic will likely depend on how families, regulators and mental health experts respond in the months ahead.
Jamie Young
Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.
When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.
U.S. Trade Representative Jamieson Greer joins ‘Mornings with Maria’ to outline President Donald Trump’s new global tariff strategy and warn trading partners that enforcement is coming.
The Trump administration isn’t letting a Supreme Court setback derail its tariff strategy. The nation’s top trade official says the White House won’t wait on Congress to restore the program.
In a 6-3 ruling last week, the high court struck down President Donald Trump’s global tariff authority under the International Emergency Economic Powers Act (IEEPA). Democrats lauded the Supreme Court’s ruling as a victory, arguing tariffs raise prices for everyday Americans.
But U.S. Trade Representative Jamieson Greer said while he’s “disappointed,” it’s not the end of tariffs, adding that he doesn’t plan on waiting for Congress to reestablish the program. He noted that while some members of Congress have offered to work with the White House, the administration has other strategies.
U.S. Trade Representative Jamieson Greer testifies before the Commerce, Justice, Science, and Related Agencies Subcommittee in the Dirksen Senate Office Building on Capitol Hill in Washington, D.C., on Dec. 9, 2025. (Chip Somodevilla/Getty Images / Getty Images)
“I have had individual members of Congress come to me and express interest in that, and I’m happy to continue having those conversations,” Greer said on the “Fox News Rundown” podcast.
“But I’m not [going to] wait for that to reestablish the president’s tariff program,” he added.
US TRADE REPRESENTATIVE GREER SAYS TARIFFS WILL GO UP TO 15% OR HIGHER FOR SOME COUNTRIES
Greer said the Trump administration is “very confident” that the program could be back up within months. He confirmed they are pivoting to existing authorities, like Section 301 and Section 232, to launch investigations targeting unfair trade practices and national security threats.
President Donald Trump and U.S. Trade Representative Jamieson Greer speak to members of the media aboard Air Force One on Oct. 30, 2025. (Andrew Harnik/Getty Images / Getty Images)
“We are very confident that within the next few months we can reestablish through these investigations, tariffs to deal with the challenges that have been identified by the president,” Greer told FOX News Audio White House correspondent Jared Halpern.
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During Tuesday’s State of the Union address, Trump criticized the Supreme Court’s ruling, calling it “very unfortunate” and saying the program brought in revenue for the country.
President Donald Trump answers questions during a press briefing at the White House in Washington, D.C., on Feb. 20. The Supreme Court ruled the same day against his use of emergency powers to implement certain international trade tariffs. (Getty Images)
Greer confirmed that no foreign countries have called the United States to renege on trade deals yet, only asking for clarity.
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“It’s not really in the interest of these countries to renege on the deal because then their auto tariffs go up, all these other things. So, I’d say they’ve been very constructive conversations,” Greer said.
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Tariffs have become a signature aspect of the second Trump administration. In 2025, the president declared the country’s trade deficit a “national emergency,” arguing the IEEPA gave him broad tariff authority.
In response to the Supreme Court ruling, the president wrote on Truth Social that he would raise a global tariff rate to 15%.
Rep. Jim Jordan, R-Ohio, and former House Speaker Kevin McCarthy discuss Republicans’ midterm agenda after President Donald Trump’s ‘record-long’ State of the Union speech on ‘Mornings with Maria.’
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New snack is high in protein and fiber.
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