Shadow business secretary slams ‘ivory tower’ financial regulators as takeover bids cripple UK stock market
London Report: Financials hold FTSE down yet Sky gives a lift January 14, 2014 BRITAIN’S top share index steadied near two-month highs yesterday, with a sell-off in financials offset by a crop of solid updates in the healthcare and retail sectors, while BSkyB shares jumped following a note from UBS. The broadcasting giant closed up 3.75 per cent after UBS analysts suggested various potential merger activities and said the [...]
Former HSBC exec named as BT Openreach’s next chief executive January 13, 2014 BT ANNOUNCED yesterday that Joe Garner will take up the role of chief executive of its infrastructure business Openreach in February, replacing Liv Garfield, who is leaving to become chief executive of Severn Trent. Garner previously worked at Procter & Gamble and as UK chief at HSBC, where he helped lead the bank through the [...]
Former HSBC UK chief Joe Garner joins BT as CEO of Openreach January 13, 2014 Joe Garner is the latest big name hire for telecoms company BT. He'll replace Liv Garfield as CEO of Openreach in mid-February, as Garfield leaves to become CEO of Severn Trent. Garner has worked most recently for HSBC as head of the UK bank, in which BT says that he drove "some of the highest [...]
What the other papers say this morning – 9 January 2014 January 8, 2014 FINANCIAL TIMES UK mobile services in Channel tunnel British Eurotunnel passengers will finally be able to use mobile phones under the sea following an agreement between the Channel tunnel operator and UK telecoms groups to provide the same sort of voice and data services that have been available to the French since 2012. China offers [...]
Former banking star Cruz signs for Old Mutual January 6, 2014 ONE OF Wall Street’s most powerful businesswomen Zoe Cruz was yesterday appointed to a £77,000 a year boardroom role at FTSE 100 fund manager Old Mutual. Cruz, who was co-president of Morgan Stanley until 2007 and was once tipped as the future boss of the bank, will join as non-executive director and sit on its [...]
Ofcom rules for BT Openreach to improve service December 19, 2013 OFCOM has proposed a set of stricter rules for BT’s Openreach division that will require 80 per cent of fault repairs to be made within two working days, regardless of factors such as severe weather conditions. Sky and TalkTalk – who offer phone and internet services to their customers over BT’s network infrastructure – have [...]
Huawei’s technology to receive closer scrutiny from government December 17, 2013 THE NATIONAL security adviser published a report yesterday encouraging tighter oversight at the Huawei Cyber Security Evaluation Centre (HCSEC), which tests the Chinese telecoms firm’s equipment for vulnerabilities. Huawei’s technology is deeply embedded in the UK’s telecoms infrastructure after a deal in 2005 with BT led to Huawei providing parts of its extensive broadband network. The [...]
Downing Street adviser wants tighter oversight of this key Chinese tech firm December 17, 2013 The national security adviser has published a report encouraging tighter oversight at the Huawei Cyber Security Evaluation Centre (HCSEC), which tests the Chinese telecoms firm’s equipment for vulnerabilities. Huawei’s technology is deeply embedded in the UK’s telecoms infrastructure after a deal in 2005 with BT led to Huawei providing parts of its extensive broadband network, [...]
What the other papers say this morning – 13 December 2013 December 12, 2013 FINANCIAL TIMES Bitcoin start-up fundraises $25m A Silicon Valley company that allows speculators and merchants to trade Bitcoin has raised $25m (£15.3m) in venture capital funding in the largest investment so far in a virtual currency business. As a result of the deal, San Francisco-based Coinbase will have two of the most prominent venture capitalists [...]
Ofcom to apply freephone rules to mobile calls December 12, 2013 MOBILE calls to businesses or services using freephone numbers will be free from 2015 as part of new rules unveiled by Ofcom yesterday. Freephone numbers 0800, 0808 and 116 will be made free from mobiles under the plans, and the pricing of 08, 09 or 118 numbers will be made clearer for callers. “These changes [...]