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The Competition Bureau (the Bureau) just discontinued its inquiry into the use of revenue management (algorithmic) pricing software for rental housing in Canada. The Bureau’s position statement provides useful guidance to help businesses understand how their use of algorithmic pricing will be treated under the Competition Act (the Act) – not only in the context of property rental markets, but any markets where these tools are being used.
The investigation
The Bureau commenced its inquiry in January 2025 in response to public concerns about housing affordability and whether landlords were colluding on rental prices by using algorithmic pricing software. Algorithmic pricing software combines multiple data points, including users’ competitively sensitive data, and supply and demand data, to calculate recommended pricing.
In this case, the Bureau investigated whether landlords and property managers used algorithmic pricing tools supplied by RealPage Canada, Inc. and Yardi Canada, Ltd. in a manner that resulted in tenants paying higher rents than would otherwise have been the case. The concern with these types of pricing tools is they allow users to set rents based on non-public, competitively sensitive data. The Bureau considered whether this behaviour raised concerns under both the civil and criminal provisions of the Act.
The Bureau’s investigation focused on:
Abuse of dominance: Whether RealPage and Yardi were engaging in practices contrary to the abuse of dominance provisions of the Act that were intended to harm or in fact had harmed competition in the rental housing market. The specific practices investigated include: the collection and comingling of non-public, competitively sensitive information from landlords, the use of pricing algorithms to artificially inflate price recommendations, and the extent to which software makes it easier to comply with those recommendations or provides disincentives not to do so.
Anticompetitive collaboration: Whether RealPage or Yardi entered into anticompetitive agreements or arrangements.
The Bureau concluded that, because the use of revenue management software is not widespread in Canada, there was insufficient evidence to suggest either abuse of dominance or anticompetitive collaboration.
However, the Bureau has suggested it will continue to monitor market participants’ behaviour in the rental housing market and may reopen its inquiry if it obtains further information.
In the US, the Department of Justice, in ongoing litigation, sued RealPage and several landlords in August 2024, alleging that its software facilitates price fixing.
Guidance
The Bureau indicated that, while its inquiry did not find a contravention of the Act, it “remains concerned about the use of algorithmic pricing tools in the Canadian rental housing market and their potential to harm competition.”
The Bureau has recommended that landlords review their practices and software providers review their product offerings to ensure they do not contravene the Act. Specifically, the Bureau recommends they ask themselves the following questions:
Does the revenue management software use non-public or competitively sensitive information from competitors? This may include a variety of factors relevant to landlord decision-making, including lease terms, rents, vacancy data, and rent concessions.
Does the software affect a landlord’s ability to reject or override price recommendations, or impose penalties for doing so? The Bureau is concerned with how easy it is for landlords to accept and implement pricing recommendations, and whether the software creates an environment conducive to price coordination.
Does the software artificially inflate price recommendations—e.g., by setting a minimum price floor or limiting available inventory to create an artificial lack of supply?
Does the software disclose non-public, commercially sensitive information about competitors?
Key takeaways
While this case focussed on the use of algorithmic pricing in the rental housing market, it clearly suggests that companies should expect that the Bureau is actively monitoring the use of algorithmic pricing tools in other markets.
Companies seeking to provide or use algorithmic pricing or similar revenue management tools should carefully review their practices from a competition law compliance perspective. In this regard, the Bureau’s guidance provides a useful framework that can assist companies in all markets where algorithmic pricing tools are used with assessing whether their use of these types of tools could raise serious compliance issues under the Act.
This winter, the festive spirit has a boarding pass. Virgin Atlantic Holidays is sprinkling some magic over one of the UK’s signature winter experiences in London – Skate at Somerset House. Returning as the event’s headline partner, the team is bringing a world of wonder and warmth to the ice. Unveiling a world-inspired Christmas tree and a first-of-its-kind pop up Clubhouse lounge – skaters can travel the world with their feet firmly on the ground. Think Mexican margaritas and New York inspired martini’s from Virgin Atlantic’s lounges all around the world.
At the heart of the ice rink stands a 40-foot Christmas tree where each ornament tells a story – from glittering baubles collected in Las Vegas to hand-painted treasures from the Caribbean. So long as your skating skills permit, make sure you look up! It’s a reminder that that wherever we’ve travelled, the best souvenirs are the memories we bring home.
Once you’re feeling sufficiently nostalgic and warm inside, it’s time to warm up on the outside at the Virgin Atlantic Clubhouse (no passport required). Tucked rink-side in Somerset House, the lounge is designed to warm your cockles and fuel your inner explorer – without any turbulence or queues at the security line.
Partnering with the likes of Hambledon, Fever-Tree, Cygnet Gin and Pantalones Tequila, it’s a first-class fusion of British brilliance and international flair. Twinings brings the steamy comforts – from spicy chais to green tea glow-ups – while snacks like Truffle Parmesan Popcorn and Savour Smiths Bloody Mary crisps immediately transport you airside.
This year, Virgin Atlantic is bringing the world home for Christmas. So whether you’re gliding across the ice-rink or just dreaming of your next getaway – Virgin Atlantic is helping you feel the festive magic all across the globe.
Ten J.P. Morgan Wealth Management teams were honored on Forbes’ 2025 America’s Top Wealth Management Teams ranking, which recognizes the 200 leading groups across the country. This honor includes 27 J.P. Morgan financial advisors and their partners.
Nine of these teams have been named to this ranking for at least two consecutive years, and five have been honored every year since the award’s inception in 2022.
“This recognition is a testament to the incredible dedication of our advisor teams,” said Mollie Colavita, head of J.P. Morgan Advisors. “They work together to help clients navigate all parts of their financial lives and complex wealth needs. I’m so proud to celebrate their teamwork.”
“For our advisors, client needs are at the forefront of everything they do,” said Eric Tepper, head of branch-based advisors at J.P. Morgan Wealth Management. “Their partnership and commitment to clients set a powerful standard of excellence for the industry. Congratulations to each of them on this honor.”
Forbes recognized the following teams:
The Phil Scott Group (Bellevue) helps people pursue meaningful goals around their wealth, providing them with honest advice that reflects the distinctive nature of their situations. The team looks to help clients design a pathway to their ambitions, lending ease and coordination to their financial affairs.
The O’Callaghan Thomas Group (New York) provides investment guidance to ultra-high-net-worth individuals, families, executives and entrepreneurs. The highly responsive, high-touch practice seeks to grow and preserve each clients’ wealth and help them leave a legacy for future generations.
The Weikes Slattery Group (New York) serves the wealth management needs of family offices, business owners, c-suite executives and real estate investors. The team’s family office-style approach to handling the intricacies of wealth management allows them to provide a tailored approach for each one of their clients.
The OCB Group (San Francisco) offers the high-touch, client-centric benefits of a boutique firm with the resources of one of the world’s largest and most respected financial institutions. The team’s business is rooted in their mission to exceed clients’ expectations.
Maybach Partners (New York) is dedicated to the stewardship of significant wealth and financial assets. The team serves diverse and sophisticated clients, ranging from high-net-worth individuals and their families to organizations such as publicly traded companies, universities and municipalities.
The Vahab Group (New York) works with an ultra-high-net-worth clientele, including founders, serial entrepreneurs, venture capitalists, C-suite executives, as well as generations of families and family offices. At the foundation of the team’s approach is rigorous and ongoing multigenerational planning that accounts for each client’s situation and aspirations.
The Babrick Team (Los Angeles) helps an accomplished clientele simplify their financial lives and navigate a more direct pathway to their ambitions. The team serves as a single, integrated resource that is wholly focused on advancing each client’s interests, steadily and methodically.
The Alta Group (San Francisco) is a single source of integrated wealth management encompassing investing, financial planning, wealth transfer, retirement strategies, succession planning and family-wealth dynamics. The team is proud to serve as trusted members of clients’ inner circle, helping them advance their priorities and chart a path to their aspirations.
Joseph Minaudo, Christopher J. Lee and Andrew Han at J.P. Morgan Wealth Management (New York) provide comprehensive wealth management services to a diverse clientele, including individuals, families, business owners, corporate executives, entrepreneurs, professionals and foundations. The team is committed to delivering tailored planning and investment offerings.
The McPhee Haggerty Ledoux Longmire Group (Boston) delivers comprehensive strategies for life science executives, leveraging a deep understanding of the unique liquidity and wealth management challenges inherent to the business life cycle of this industry.
J.P. Morgan Wealth Management continues to invest in top talent and resources. Our advisors and clients have access to a wide array of products and in-house specialists, award-winning research and a diverse range of investment strategies. J.P. Morgan also offers a suite of Family Wealth Services to help clients navigate the unique opportunities and challenges of family wealth, including family engagement and governance, philanthropy, family office and exclusive access to lifestyle services such as bill pay, private aviation, cybersecurity and more. The firm’s robust offerings empower advisors to help clients navigate the markets and plan for their family’s goals and legacy.
J.P. Morgan has earned the Top Global Research Firm spot from Institutional Investor for four consecutive years.
This Forbes ranking includes 200 teams and was compiled by SHOOK Research. The selection criteria includes interviews, industry experience, compliance records, revenue produced and assets under management.
To see the full ranking and information on criteria, visit here for Top Private Wealth Teams and here for Top High Net Worth Teams.
Forbes/SHOOK America’s Top Wealth Management Teams (11/12/25, data as of 03/31/25); (11/13/24, data as of 03/31/24); (11/07/23, data as of 03/31/23); (11/08/22, data as of 03/31/22). Ratings may not guarantee future success or results. Fee paid to rating provider for advertisement materials after rating announced. Methodology here: jpmorgan.com/award-disclosures
About J.P. Morgan Wealth Management
J.P. Morgan Wealth Management is the U.S. wealth management business of JPMorgan Chase & Co., a leading global financial services firm with assets of $4.6 trillion and operations worldwide. J.P. Morgan Wealth Management has ~6,000 advisors and $1.2 trillion of assets under supervision. Clients can choose how and where they want to invest. They can do it digitally, remotely or in person by meeting with an advisor in one of our more than 5,000 Chase branches throughout the U.S., or in one of our offices. For more information, go to www.jpmorgan.com/wealth and follow J.P. Morgan Wealth Management on LinkedIn.
J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.
The carmaker owned by the billionaire industrialist Jim Ratcliffe will make hundreds of job cuts across the company’s global workforce as his heavily indebted empire comes under increasing pressure.
Ineos Automotive did not specify an exact number of losses from its 1,700-strong workforce, saying only that it would shed “several hundred” head office staff across multiple locations, including the UK and parts of Europe.
The company owned by Ratcliffe, who also co-owns Manchester United, said the “strategic measures to structure its business” would help to simplify its head office and improve efficiency.
The Guardian understands that the cuts are unlikely to affect the company’s automotive plant in Hambach, France, which is building the Ineos Grenadier, an off-road vehicle that pays homage to the discontinued Land Rover Defender.
Ratcliffe has struggled to turn his vision into a profitable business after a string of problems at the French factory, which led the company to recall more than 7,000 of its Grenadier vehicles in the US over faulty doors.
Donald Trump’s decision to impose higher tariffs on imports of cars into the US, the Grenadier’s biggest market, has piled further pressure on the business.
Ineos Automotive is part of a sprawling business empire focused on chemicals manufacturing. Last month Ineos closed two chemical factories in Germany and said it would cut a fifth of jobs at its East Yorkshire plant, blaming “sky-high” energy costs and “dirt-cheap” imports from China.
The company has accused Europe of carrying out “industrial suicide” by imposing green policies that Ineos claims raise the cost of energy. The group is also scrambling to file anti-dumping cases to block the import of cheap chemicals products into the EU in an attempt to protect its core petrochemicals business from further financial strain.
But the company has already lost the confidence of credit rating agencies and debt investors. The Guardian revealed earlier this year that two leading credit ratings agencies had raised red flags over the Ineos Group, which could lead to its debt pile climbing to almost €12bn (£10bn) this year.
Fitch Ratings and Moody’s, which provide financial health checks for most big companies, said in February that Ratcliffe’s chemicals business had racked up debts that were between five to six times larger than the company’s annual earnings. Its debts have since climbed to eight times their annual earnings, according to Fitch.
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Ratcliffe, who has a net worth of £17bn, according to this year’s Sunday Times rich list, built Ineos by using debt to make strategic acquisitions in the chemicals industry, including a deal to buy an Antwerp chemicals facility from BP in 1998.
In recent years the prominent Brexit backer has expanded beyond the chemicals industry to invest in a string of sporting teams as well as the leather jacket maker Belstaff, and his automotive venture. In 2023 he took a minority stake in Manchester United, which has made a £300m loss over the past three years. Ratcliffe sold Belstaff in September to the sportswear group Castore.
Black Friday and Cyber Monday are just around the corner, with Amazon Europe’s Black Friday Week running from 20 November through 1 December.
Black Friday will once again offer customers great deals. As one of the biggest shopping events of the year, it is the perfect time to check items off your festive shopping list, saving money whilst doing so.
Whether you’re a seasoned Black Friday shopper or new to the game, this guide covers everything you need to know about Black Friday 2025, and Cyber Monday 2025, in the EU. So, let’s dive in.
What is Black Friday?
For many of our customers, Black Friday is the first major Christmas shopping event of the year, becoming synonymous with great discounts. It is closely followed by Cyber Monday.
Black Friday 2025 falls on 28 November this year, meaning it is only a few weeks away, and Cyber Monday is the following Monday, 1 December 2025.
Do you have to be an Amazon Prime member to get Black Friday deals?
While you don’t need to be a Prime member to shop on Amazon during Black Friday, having a Prime membership on your local European Amazon Store with its many delivery options and perks can help.
Don’t forget, you can also use Amazon gift cards when doing your Black Friday shopping.
What are the best deals during Black Friday?
During Black Friday Week, shoppers can find deals including: Amazon Devices, Beauty, Books and Kindle, Fashion & Fitness, and more!
How can I join Amazon Prime before Black Friday?
Prime helps customers get the most out of Amazon—which means it comes with a number of great benefits including fast, free delivery. If you want to take advantage of this during the festive season and beyond, now’s a great time to join.
Customers who haven’t joined Prime yet can sign up now or begin a free trial to unlock access to exclusive savings and benefit from fast, free delivery on millions of products.
Lloyd’s Register (LR) has collaborated with Italian ferry operator GNV to deliver the third edition of its training programme dedicated to fleet energy efficiency and decarbonisation.
The three-day course, which took place from 10 to 12 November at the MSC Training Centre in Sant’Agnello, Sorrento, involved approximately 50 members of the technical and operational staff from across the fleet, including Captains, Chief Engineers, Chief Pursers, First Engineers and Deck Officers.
The aim was to strengthen skills in energy management, the use of alternative fuels, and the application of digital tools for consumption monitoring and regulatory compliance.
Jointly developed by GNV’s Energy Efficiency Department and LR technical specialists, the training addressed the main international and EU regulatory frameworks, along with best operational practices, onboard efficiency technologies, and strategies for adopting low-emission fuels such as biofuels and LNG.
The sessions combined theory, workshops, and practical activities based on data analysis and performance monitoring systems.
The final day featured presentations from industry partners and stakeholders, including Wärtsilä, Hempel, VARD Fincantieri Group, KROHNE, RINA Digital Solutions and TRADER s.r.l. Worldwide Bunkers & Lubricants Supplier. Topics included emerging technologies, new energy scenarios and digital solutions to enhance the environmental performance of shipping operations. Gianpaolo Dalla Vedova, Legal Representative and Country Leader for Italy, and Antonio Pollio, Senior Client Relation Manager, at LR, also participated in the session.
This training initiative is part of GNV’s strategy to reduce its environmental impact through technology upgrades, refitting activities, and crew development, supporting an integrated energy management approach and compliance with IMO and EU regulations.
Ivana Melillo, Energy Efficiency Director at GNV, said: “The collaboration with Lloyd’s Register represents an important step in our decarbonisation journey. Investing in the training of our crews means valuing our people, strengthening professional skills and addressing the new regulatory and operational challenges with greater awareness.
“Through the adoption of innovative technologies and best practices in energy efficiency, we are contributing to reducing the environmental impact of our operations and supporting the maritime sector’s transition towards a more sustainable future.”
Gianpaolo Dalla Vedova, Strategic Business Partner, Country Leader and Legal Representative for Italy, Lloyd’s Register, said: “Our partnership with GNV reflects LR’s ongoing commitment to supporting maritime operators with tailored services and consultancy in energy management, digitalisation and the adoption of alternative fuels.
“This training programme is designed to guide shipowners and operators through today’s complex regulatory landscape and accelerate their decarbonisation pathway.”
