Auquan's Weekly Wrap | 21st- 27th January: What you might have missed

Live Nation and Ticket Master under scrutiny by U.S. Senators, Drax Lobbying Efforts and more...

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Drax Environmental Risks

Photo: Anna Gowthorpe/PA

Drax is facing potential strike action by its workers in Scotland over a pay dispute, which could disrupt energy supplies to Scottish businesses. The company recently faced a fine of £6.12 million by Ofgem for submitting excessively expensive bids and breaching its Generation Licence. The company is also facing accusations by Greenpeace of distorting its stance on biomass burning and estimates that Drax could receive more than £30 billion in future subsidies. The outcome of the dispute and its impact on energy supplies and the overall operations of the company remains uncertain.

Live Nation - Ticketmaster Antitrust Investigation

Photo: Anna-m w./Pexels

Live Nation and Ticketmaster, the dominant player in the live music industry, are under scrutiny by U.S. senators for their lack of transparency and inability to block bot purchases of tickets. The hearing was called after a major ticketing debacle involving Taylor Swift's upcoming concert tour. Live Nation's CFO testified at the hearing and acknowledged that the company could have done better in handling the ticket sales and setting fan expectations. The senators also criticized Live Nation's fee structure and called for better enforcement of existing laws or new legislation to protect consumers.

Big Pharma Pricing Power

Stock photo/ Getty Images

A new report from Global Health Advocates and StopAids has revealed that the pharmaceutical industry, companies including Pfizer, AstraZeneca and Moderna had a disproportionate influence on EU institutions, leading to harm to public health, particularly during the COVID-19 pandemic. The report highlights the influence of the pharmaceutical lobby on EU institutions such as the European Commission and the Parliament and calls for increased transparency in future negotiations between the Commission and pharmaceutical companies.

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