Vodafone looks to raise €4bn of hybrid bonds to fund Liberty Global acquisition September 26, 2018 Vodafone is looking to fund its acquisition of Liberty Global’s European cable networks through issuing around €4bn (£3.6bn) of hybrid bonds. Unlike corporate bonds, hybrid bonds combine debt and equity into a single security, and are classed partially as equity by ratings agencies. This allows Vodafone to maintain its credit rating while also raising much [...]
Fox and Disney confirm they will sell Sky stake to Comcast September 26, 2018 Disney and 21st Century Fox have confirmed they will sell off their stake in Sky to Comcast, meaning the US media titan will almost certainly win full control of the broadcaster. It ends speculation around what Disney and Fox bosses Bob Iger and Rupert Murdoch were going to do with the 39 per cent stake after losing the dramatic auction [...]
Ofcom sets out proposals to make mobile phone charges fairer for consumers September 26, 2018 Telecoms regulator Ofcom today indicated it could soon stop mobile phone operators from overcharging customers for handsets they have already paid off. Millions of customers pay for their phone on a "bundle" deal which allows them to pay for the handset over a number of months. Though many operators reduce the monthly payment customers [...]
CBS appoints Richard Parsons as interim chair after Lesley Moonves resigns over sexual misconduct allegations September 26, 2018 US media giant CBS has appointed an interim chairman to replace Lesley Moonves, who resigned earlier this month following a wave of sexual assault allegations. Richard Parsons will step in as interim chair – CBS also said two other board members, Bruce Gordon and William Cohen would step down to focus on other personal [...]
Google partially u-turns on cryptocurrency ad ban September 26, 2018 Tech giant Google has partially u-turned on a decision to ban cryptocurrency related advertising. In an effort to protect consumers from the high risk of fraudulent marketing related to crypto-currencies, Google earlier this year said it would ban all advertising promoting cryptocurrencies and crypto firms. But now it has rowed back on the ban, [...]
Nike boss stands by Colin Kaepernick ad campaign as sales soar September 26, 2018 Nike boss Mark Parker has stood by his company's controversial ad campaign featuring American Football star Colin Kaepernick, saying he is "proud" of it. In a call with analysts yesterday following the company's results, Parker said the campaign had caused "record" engagement and is driving sales of its products. Nike's share price plunged three per [...]
Snap exodus continues as communications chief announces departure September 26, 2018 The exodus from US tech giant Snap has continued after its head of communications told staff she would leave the company by the end of this year. In an email to staff, communications chief Mary Ritti said that after six years at Snap she thought it was time to "take a deep breath and [...]
Model maker Hornby on track to meet targets despite drop in sales September 26, 2018 Model train maker Hornby told investors its trading outlook was staying on track this morning, despite a drop in sales over the last six months. Ahead of its annual meeting later on today, the company gave a trading update – saying its decision to slow discounting has led to lower sales. However, it said not slashing [...]
Learning Technologies Group shares rocket as revenues rise following US acquisition September 25, 2018 Shares in corporate education software firm Learning Technologies Group (LTG) closed 19 per cent up today after it reported robust half-year results. Revenues jumped 60 per cent to £33.8m, while the dividend was hiked 67 per cent to stand at 15p. The group, which creates e-learning software for the likes of Jaguar Landrover and the [...]
Mercer slams competition watchdog for data errors in pension fund industry investigation September 25, 2018 A leading player in the pension fund industry has slammed the competition watchdog for using inaccurate data in its probe into the sector. The Competition and Markets Authority (CMA) report released in July found that there was a lack of competition in the investment consultancy which could cause "material customer detriment". The UK chief [...]
