BT boss on Ofcom: “I don’t think they are trying to break the company up” December 4, 2016 BT has played down damning action by the telecoms watchdog to split up the company for failing to address competition concerns. Chairman Sir Mike Rake has insisted that Ofcom is not trying to break-up the telecoms firm, just days after the regulator said it was pushing forward with plans to legally separate its Openreach broadband infrastructure division. Rake denied that Ofcom was calling [...]
Britain’s telecoms giants to be probed by Ofcom over landline pricing December 1, 2016 The UK's phone companies are exploiting vulnerable people by hiking landline prices even though their costs are falling. Regulator Ofcom delivered a damning verdict on the likes of BT and Virgin Media and announced plans of a detailed review of pricing to ensure customers get value for money. Read more: Ofcom will go to European Commission [...]
UK pension funding deficits remain at nearly one-third of UK GDP, despite recovery of £50bn in November December 1, 2016 A £50bn improvement in the deficit of defined benefit pension funds in November 2016 failed to offset declines earlier in the year, leaving the total deficit at £580bn. The deficit is still over £100bn higher since the start of the year, according to PwC’s Skyval Index. Deficits have leapt since Spring after asset value growth failed to [...]
Virgin Media catches up to rivals with its first 4K TV set-top box November 30, 2016 After much teasing and trailing, Virgin Media has finally launched its first ultra HD 4K TV set-top box. Virgin – whose owner Liberty gave the company its backing post-Brexit vote – is joining the likes of rivals Sky and BT in pushing 4K content to the masses, offering four times the resolution of high definition broadcasts. The TV [...]
Who’s afraid of the big, bad pensions deficit? Contrarian stock-pickers can find hidden value in companies with large holes in their defined benefit pension funds November 30, 2016 For some UK companies, having a large pension deficit is like a proverbial albatross around the neck – unsightly and foreboding. This can make the shares appear cheap on some measures. But valuing stocks with large schemes is difficult, due to the enhanced complexity of pension accounting. Actuaries and trustees make numerous assumptions regarding future [...]
Sky dives into mobile market with “flexible” contracts but steers clear of content offers November 29, 2016 Pay-TV operator Sky has unveiled details of its long-awaited mobile service. Available to Sky staff already and rolling out gradually to pre-registered customers and then to the wider market early next year, the service is aiming to offer what the company has called a "flexible" mobile subscription plan. Sky will then begin offering handsets to users [...]
TalkTalk share price jumps on news BT and Openreach will be split November 29, 2016 Shares in telecom group TalkTalk have jumped this morning on the news that rival BT is to be separated from its broadband infrastructure arm, Openreach. TalkTalk's stock was up four per cent by mid-morning. Ofcom said earlier that it would go the European Commission seeking to legally split BT and Openreach. "Creating a more independent [...]
BT Openreach’s conscious uncoupling: Reactions from four City analysts (and one business school professor) November 29, 2016 Entire geological eras have passed since Ofcom first began um-ing and ah-ing about spinning BT's Openreach broadband division out from the main company. Today the communications watchdog said it will definitely push ahead with plans to legally separate the two entities, causing BT's share price to fall as much as 1.5 per cent this morning, before paring [...]
Ofcom pushes to legally separate BT and Openreach November 29, 2016 Ofcom said today that it will push ahead with plans to legally separate BT and its broadband network division Openreach. The watchdog accused BT of failing to volunteer any actions that would address competition concerns. BT shares dropped 1.3 per cent at the open. Openreach is the division of BT Group that develops and maintains [...]
CityFibre plans to roll out its fibre network across business parks in 20 cities by next year November 29, 2016 Broadband infrastructure challenger CityFibre is to roll out its full fibre network to 20 cities in 2017 as part of new plans announced today. The scheme is intended to reach some 600 business parks across CityFibre’s 40 city footprint. CityFibre is planning on growing to 100 towns and cities by 2025 across the UK. “By [...]