What the other papers say this morning – 13 August 2013 August 12, 2013 FINANCIAL TIMES Subpoenas issued over metals probe The US commodities watchdog has subpoenaed companies including Goldman Sachs, JP Morgan Chase and Glencore as it ramps up its probe into the metals warehousing industry. The subpoenas come amid a barrage of criticism in the US of activities in commodity markets. The CFTC requested documents by the [...]
Best of the Brokers for 5 August 2013 August 4, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com ROTORK Espirito Santo tells investors to “buy” shares in the manufacturing group and has a fair value of 3,050p ahead of first-half results tomorrow. The broker thinks Rotork’s shares have unfairly fallen behind the rest of the industrial sector in the year so [...]
Round one to Sky in battle with BT August 1, 2013 Communications regulator Ofcom dealt a blow to BT yesterday, ruling that it is not ready to force Sky to allow its sports channels to be shown on BT’s new TV service. The decision came on the day that BT launched its new TV sports channel, BT Sport, with presenter Jake Humphrey leading the way last night. [...]
BT splits retail division into consumer and business July 30, 2013 BT yesterday said it would split its retail division into two separate companies amid an increasingly bitter broadband war with rivals. BT Retail, which posted quarterly revenues of £1.8bn last week and represents roughly 40 per cent of the groups income, will split into two entities called BT Consumer and BT Business. John Petter will [...]
Pace rides US media boom July 30, 2013 PACE, the Yorkshire-based provider of set-top TV boxes, yesterday said its first-half profits had tripled thanks to huge sales growth in the North American market. A massive increase in demand in the US for media servers – devices that transmit TV and internet feeds to the screens of laptops, tablet and smartphones – means the [...]
BSkyB revenues rise ahead of BT battle July 26, 2013 BRITISH Sky Broadcasting (BSkyB) today posted a seven per cent increase in full-year revenues to £7.2bn, as it gears up for a battle with an increasingly aggressive BT. The satellite broadcaster’s earnings rose eight per cent to £1.7bn and operating profit rose nine per cent to £1.3bn over the period. With mere weeks to go [...]
BT Sport signs up 500,000 in battle with Sky July 25, 2013 HALF a million homes are ready to receive BT’s new sports channels when they launch on 1 August, it was announced yesterday. The company says more than 500,000 households have already signed up to access the new service, which represents a billion pound punt by the telecoms giant and puts it in direct competition with [...]
Bottom Line: Beware the hype, this game’s only just kicked off July 25, 2013 IT HASN’T even started broadcasting yet, but BT Sport has already cost the group £40m – or one Luis Suarez – in pre-launch expenses. Yesterday outgoing chief executive Ian Livingston was keen to highlight the 500,000-odd households that have signed up for the new service, which goes live next Tuesday. But take a closer look at the [...]
BT Sport signs up half a million pre-launch July 25, 2013 TELECOMS company BT today said more than half a million households have ordered its new sports offering to challenge Sky Sports, as it reports a smaller than expected decline in first quarter profit and revenue. BT Sport is being launched in August as part of the British firm’s plan to compete with Sky and [...]
BT reports profit and revenues fall in second quarter July 25, 2013 Telecoms company BT has reported a revenues fall of one per cent, down to £4.449bn, for the period from the first quarter to 30 June (release). The biggest revenues fallers were Wholesale (down six per cent) and Global Services and Openreach (both down by two per cent). Profit before tax fell by 16 per cent [...]