21 UK stocks in danger from a Labour election win November 15, 2019 The Labour party today announced it will nationalise parts of BT if it wins power in December’s General Election. The party would nationalise the telecoms giant’s Openreach fibre rollout arm in a bid to create a UK-wide network owned by the government. Read more: BT chief executive warns Labour’s part-nationalisation would cost £100bn Shadow chancellor [...]
Labour leader Jeremy Corbyn’s British broadband speech in full November 15, 2019 Jeremy Corbyn has laid out plans to provide free full fibre broadband to every UK household and part-nationalise BT this morning. Labour said that the policy, the cost of which was estimated at £20bn, would be funded by taxing multinational tech giants. The policy announcement sent BT’s share price down over two per cent this [...]
Interserve CEO Debbie White confirms exit plan November 15, 2019 Interserve chief executive Debbie White has announced she will step down at the end of the year after implementing a turnaround plan at the company. The outsourcer also revealed a new operating structure, separating the group into three business divisions – construction, equipment services and support services – which will each be led by a [...]
BT CEO warns Labour’s part-nationalisation plan could cost £100bn November 15, 2019 BT’s chief executive Philip Jansen has warned that Labour’s plan to renationalise parts of the telecoms giant could cost more than £100bn. Labour will reveal its election pledge to part-nationalise BT later today, with the policy announcement sending BT’s share price down as much as three per cent in early trading. “These are very, very [...]
Private equity giant Carlyle dragged into dispute over Taylor Swift’s past hits November 15, 2019 Taylor Swift has begged private equity titan The Carlyle Group for help after accusing two record executives of exercising “tyrannical control” over her music and barring her from performing past hits. Swift appealed to Carlyle and her fans to help her secure ownership of six of her past albums, accusing her former record label of [...]
Watchdog pauses investigation into First Group’s West Coast Rail franchise November 15, 2019 The UK’s competition watchdog has paused its investigation into the decision to award the West Coast Rail franchise to First Group after the company offered to make changes to the deal. The Competition and Markets Authority (CMA) said last week it would escalate its probe into First Group’s joint venture with Trenitalia on the route unless [...]
China condemns ‘attack’ on Hong Kong minister in London November 15, 2019 The Chinese government has condemned what it called an “attack” on Hong Kong’s justice minister after she fell to the ground while surrounded by furious pro-democracy protesters in London last night. Teresa Cheng, who was in London to promote Hong Kong as a dispute resolution and deal-making hub, was circled by protesters shouting “murder” and [...]
Labour’s BT plans force Talk Talk to pause sale of Fibrenation November 15, 2019 Broadband provider Talk Talk’s chief executive Tristia Harrison said that Labour’s plans to nationalise BT’s Openreach arm had forced the company to pause negotiations over the sale of its Fibrenation sister business. On a call with reporters, Harrison said: “Negotiations are going very well, but the news overnight means that we are all pausing, considering [...]
Amazon to appeal Pentagon decision to award Microsoft $10bn cloud contract November 15, 2019 Amazon will appeal the US department of defense’s decision to award Microsoft a major cloud contract. Amazon, which already provides cloud computing for the Central Intelligence Agency, had been favourites to win the contract worth $10bn over 10 years. Read more: Nike pulls clothes and shoes from Amazon amid digital push The company has now [...]
Fuller’s takes a hit on sale of brewery business November 15, 2019 UK pub chain Fuller, Smith & Turner warned this morning that the costs associated with the sale of its brewery business to Japanese beer giant Asahi have been higher than expected. Shares in the company fell 5.69 per cent to 990.24p after it said profit for the full year ended 28 March is expected to [...]