Full investigation into UK vets market announced to examine pet owners’ concerns – business live

Rolling coverage of the latest economic and financial news, as competition watchdog launches formal market investigation into £5bn/year vets market

• ‘The vet presented it as: if you care, you pay’: who really profits from poorly pets?

Elsewhere in the City, shares in energy company National Grid have tumbled 8% after it announced a massive cash call to fund the delivery of renewable energy.

National Grid is raising £7bn through a rights issue, in which existing shareholders can buy 7 new shares for every 24 they already own.

On both sides of the Atlantic, governments and regulators are moving with increased urgency to attract the levels of investment required to meet their decarbonisation targets.

As economies become increasingly digital, electrified and decarbonised, the need for energy infrastructure has rarely been more pressing. Our investment will unlock significant economic growth and, by the end of the decade, National Grid is expected to support over 60,000 more jobs, while also decarbonising our energy systems, bolstering security of supply, and reducing consumer bills in the long term.