(Bloomberg) -- The prospect of a Competition and Markets Authority investigation into the cloud infrastructure market in the UK may not dominate the front pages of British newspapers, but it will be important for the thousands of businesses that pay for these services. An investigation by Ofcom into the market found things like fees for transferring data and committed spends make it more difficult for business customers to switch suppliers. They’re now proposing they ask the CMA, who are already looking into cloud gaming, to investigate.

Here’s the key business news from London this morning:

In The City

AstraZeneca Plc: The pharmaceutical giant’s combination of Lynparza and Imfinzi helped progression-free survival in newly diagnosed patients with advanced ovarian cancer and without certain tumor mutations in a phase III trial.

Ofcom: The UK’s communications regulator’s study into cloud infrastructure services in the UK has found features that make it harder to switch between suppliers like Amazon and Microsoft. 

• They found high fees for transferring data, discounts for committed spends and technical restrictions that are making it difficult for business customers
• The regulator is proposing to refer the market to the UK’s competition regulator for further investigation 

Hilton Food Group Plc: The protein specialist’s CEO Philip Heffer will step down after almost 30 years with the company, including five as CEO.

• The company said it took a series of steps to rebuild profitability in its seafood business, while its meat category has “performed well”

In Westminster

It has on occasion been difficult to fill this section in recent months, especially compared to the drama of last year. For the UK this doesn’t seem like a bad thing, the Editors of Bloomberg write. Read their editorial: UK Politics Is Getting Boring. It’s About Time.

Brexit put strain on Northern Ireland, at times threatening to unsettle a peace brokered by the Good Friday Agreement 25 years ago. Yet the youth of the country are now hoping for more than just peace: they want prosperity too.

In Case You Missed It 

President Joe Biden will not be attending King Charles III’s coronation in May, the White House said last night, although the First Lady Jill Biden, will represent the US at the ceremony.

Meanwhile, business confidence in the UK crept up in the first quarter of the year, despite only a third of firms seeing an increase in sales, according to a survey. And Britain’s homeowners are taking almost twice as long to sell their properties after a turbulent year in the housing market. It took an average of 35 days to agree a sale on a UK home last month, roughly 15 days longer than a year ago.

Finally, read how Teck Resources Ltd’s rejection of Glencore Plc’s $23 billion offer has given the Swiss commodities giant just three weeks to keep its proposal alive.

Looking Ahead

There’s just one more major company release before the country retires to the four-day Easter weekend: Shell Plc’s first quarter update. The oil and gas major posted a record profit for 2022 as a result of record commodity prices. Tomorrow’s update will be an early indication on how it is fairing in 2023.

For a more considered take on the UK's economic and financial news, sign up to Money Distilled with John Stepek.

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