On 19 June 2012, the Commission published the 2011 Annual Report on Competition Policy, and a speech by Almunia, Vice President of the Commission responsible for Competition Policy, on his presentation of the Report to the European Parliament Economic and Monetary Affairs Committee. In his speech, Almunia considered three areas which he believes represent the breadth of the Commission’s action in the competition field: (1) financial services – the Commission has been very active in this sector, having: extended the temporary State aid regime for banks into 2012; investigated antitrust cases against Standard & Poor’s, Thomson Reuters, MasterCard amongst other; blocked the Deutsche Börse/NYSE Euronext merger; and opened an investigation into the operations of the European Payments Council; (2) food – in this sector, the Commission has had a lot of involvement in reviewing some transnational mergers such as its conditional approval of Südzucker’s acquisition of ED&F MAN; and (3) State aid – in 2011, the Commission approved the reform of State aid rules on services of general economic interest and the first case analysed under the new rules was decided in March 2012 concerning the UK Post Office; and has also worked hard on the State aid modernisation package. The Annual Report and accompanying Staff Working Paper consider these three areas and also expand on recent developments in other industry sectors, including the aviation, network industries, R&D, energy, environment, information & communication technologies and pharmaceuticals sectors. Read Almunia’s speech. Read the Annual Report. Read the Staff Working Paper.