I have sat on the CMA panel for nine energy licence modification appeals and five water redeterminations. The government's new consultation would end that version of the process. The legal test barely changes in most sectors. What changes is the prize. Win an appeal today and a company can walk away with a different number. Win under the proposed regime and you get sent back to the regulator to start over. For water, energy and aviation companies, that difference matters more

Every four years, and especially in the week before the World Cup final on Sunday, football is about as close as the world gets to a single global product. Billions of viewers, very large broadcasting revenues, and a tournament owned and commercialised by a governing body with considerable influence over the structure of the sport. After three decades in telecoms regulation, I find it an interesting thought experiment to ask what a familiar regulatory toolkit - market definit

Crypto has had no shortage of turning points, but the one now unfolding has a different character. It lacks the drama of the boom-and-bust cycles that tend to dominate the headlines, and that quietness is precisely why it matters. Stablecoins have travelled from the margins of digital finance to the heart of global payment flows, and they have arrived well ahead of the rules meant to govern them.