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In United States v. United Shoe Machinery Corp., United Shoe Machinery (USM) was found guilty of illegal monopolization due to its leasing practices. Existing scholarship on this case largely focuses on the issue of leasing versus selling. In this article, we provide a more comprehensive analysis of this important decision. In addition, we examine USM’s antitrust experience before and after the famous 1953 case. We find that USM’s business practices were largely procompetitive and, therefore, did not warrant condemnation.

Legal and Sharīʿah issues abound in creating security to finance waqf property development in Malaysia, for it involves integrating the Sharīʿah concept of waqf with requirements of Malaysian land law as well as the requirements of modern finance under civil law. Banks and financial insti­tutions will not generally finance property development without any form of security for the loan. The best type of security transaction under Malaysian land law is to create a charge on the land under the National Land Code 1965, rendering the land liable as a security which upon default of the chargor, would entitle the chargee to seek statutory remedies including sale of the land. Such may not be feasible for waqf properties due to the inalienable nature of such properties. Due to the remedy of sale of the land upon default, the same issues would arise in regard to other types of securities like a lien and a loan agreement cum assignment. There is therefore a need to diversify the available options in creating security over waqf property. What are the existing Sharīʿah restrictions on waqf property? Do these restrictions affect the creation of security over waqf lands under conventional Malaysian land law? What are the legal and Sharīʿah issues relating to creating a charge over waqf lands? What are some feasible options? Initial findings are that creating a charge on a lease of waqf land as well as resorting to a hybrid form of a traditional security transaction in Malaysia, called ‘Jualjanji’, may hold some answers. Through doctrinal legal research and content analysis, this chapter explores these issues and recommends feasible solutions.

Judging by the amount of Press coverage and the fears of lost revenue emanating from the Treasury, leasing must be an expanding market. How fast is the rate, and what is the volume, is difficult to ascertain. The major organisations, the British Vehicle Rental and Leasing Association (of which Interleasing are members) the Equipment Leasing Association and the Finance Houses Association between them cover the market. By a special correspondent from Interleasing (U.K.) Limited.

BY 1985 half the cars in Britain will be leased as companies throughout the country step up the general move to leasing. Such has been the thumbs‐up approval given to leasing that the business has rocketed 80 times in the last four years; today, over £450m worth of cars on British roads are leased. What's more, the trend is accelerating despite tax changes in the last two budgets.

The cost of transport is one of the highest single items of expenditure a businessman has to face. These days a basic Cortina can set you back £4,500, and cost at least half as much again a year to keep on the road. A Rover 3.5 would cost double, and a medium size truck will leave little change out of £30,000.

Industrial relations in Britain have been aggravated rather than eased by recent employment legislation, concludes a survey on management attitudes, compiled by the Polytechnic of North London with help from the London Chamber of Commerce and Industry. The survey claims that most managers in British industry believe that the main effect of employment legislation has been to harm the relationship between manager and employee.

The aim of this paper is to make policy makers and regulators more fully aware of the practical problems and costs involved in implementing geographically segmented regulation. This awareness will be valuable in deciding whether to adopt the approach and, if so, in designing its implementation, i.e. how the scheme's problems will be addressed and costs minimized.

Increasingly, incumbent operators and some regulators have argued that regulatory forbearance should be adopted in geographic areas (usually the more densely populated cities) where facility‐based competition is developing. Certainly geographically segmented regulation accords with widespread agreement that regulation should be the minimum necessary. Indeed, a number of countries have implemented the scheme, including Australia, Austria, Canada, Finland, Portugal, Spain, the UK and USA. This paper examines the experience these countries have had in applying geographically segmented regulation.

The lessons from experience in applying geographically segmented regulation suggest that the processes used to determine specific relevant markets are, at present, contentious and problematic in principle, and complex and subjective in practice. The problems/costs relating to the implementation of geographic regulation could erode the stability, certainty and predictability so important in a regulatory regime. Moreover, outcomes are uncertain, especially when looking ahead into an NGN environment.

This is the first paper that examines the actual experience of countries that have implemented geographically segmented regulation.

Islamic banking as a financial institution has always been proclaimed to be different from conventional banking systems. This is mainly due to the prohibition of interest and emphasis on achieving social economic responsibility in society. However, in practice, Islamic banking practices in the UK seem to be far away from its paradigm version. The main purpose of this study is to evaluate user perceptions of Islamic banking practices in the UK.

To explore the understandings and perceptions of customers about Islamic banking practices in the UK an online questionnaire survey is used as the research approach in this study. The survey was conducted through a closed‐ended structured questionnaire.

The overall findings of this study suggest that Islamic banking in the UK is not fully aligned with the paradigm version of Islamic finance. The respondents generally agree with the view that the principle of profit and loss sharing element represents the true spirit of Islamic banking practices, however, due to the complex nature of Islamic banking products, they are unsure about the full benefits of this system. There is a high expectation among the respondents about the commitment and strong welfare role of Islamic banks in society. It is therefore suggested that through research, effective marketing and generating more awareness in users about Islamic finance, it is possible to achieve more from the Islamic banking paradigm.

This study is not only relevant to Muslims, but also to the banking regulators in the UK, as many conventional banks are now offering Islamic products and services alongside their routine interest‐based transactions. Hence there is a need for the regulators to understand the real nature of such practices by both the Islamic and conventional banks and establish a uniform regulation so that users are not ill‐treated by banks in the UK.