Strong broadband demand boosts BT February 1, 2013 Strong demand for broadband boosted BT’s pre-tax profits in the three months to December, it said this morning. Pre-tax profit jumped seven per cent to £675m in the third quarter, compared to forecasts of £632m. Over the nine months to December, profits soared eight per cent to £1.8bn. BT said it was adding around 100,000 [...]
New TV services lift Sky’s profits as rivals circle January 31, 2013 AN IMPRESSIVE showing from BSkyB’s new on-demand internet streaming service, Now TV, helped it to a 10 per cent rise in profits, the broadcaster said yesterday. Sky said that half of the 50,000 new TV customers it signed up during the last six months of 2012 were for Now TV, which charges customers £15 a [...]
Remote working: A new approach to 9-5 January 30, 2013 LAST November, Nick Clegg hit headlines when he made a speech on flexible working. His proposal may only have extended the right to request flexible working hours to all employees, but this phenomenon is here to stay. And it won’t exclusively be for the benefit of those with children. Flexible working can be an appealing [...]
What the other papers say this morning January 29, 2013 FINANCIAL TIMES Brussels softens line on ringfencing The European commissioner in charge of regulatory reform of the region’s banks has signalled a retreat from plans to force lenders to build barriers around their securities trading operations, as policy makers focus on stimulating growth. Michel Barnier told the Financial Times that any implementation of last year’s [...]
FTSE 100 smashes through 6,300 level January 29, 2013 The FTSE 100 nudged back over the 6,300 level this morning – which it smashed through for the first time in almost five years yesterday – as it edged up around 0.15 per cent. Steelmaker Evraz was the biggest blue chip gainer this morning, adding 2.38 per cent. Global miner Anglo American rose two per [...]
EasyJet chair to quit after three turbulent years January 27, 2013 EASYJET chairman Sir Mike Rake plans to step down from the board this summer, after three years of locking horns with the budget airline’s founder and biggest shareholder. Sir Mike faced down calls for his resignation last year from Sir Stelios Haji-Ioannou, whose family holds a 37 per cent stake in EasyJet. Sir Stelios dubbed [...]
Airline’s ambitions to join the FTSE 100 sped Rake’s departure January 27, 2013 AT first sight, the departure of Sir Michael Rake as EasyJet chairman is a victory for Sir Stelios Haji-Ioannou, the company’s founder turned thorn-in-its-side. Sir Stelios sought Sir Michael’s removal last summer, following the BT chairman’s appointment to deputy chairman at Barclays, arguing overcommitment. However, despite public criticism by EasyJet’s largest shareholder, Sir Michael held [...]
Lords to quiz Ofcom chief exec January 27, 2013 Ofcom’s plans for media regulation could be revealed tomorrow as the regulator’s chief executive Ed Richards is grilled in the House of Lords. The Communications Committee will quiz Richards as part of an inquiry into media convergence, which has become an increasing issue with BSkyB selling internet connections and BT and Virgin Media entering the [...]
Best of the Brokers January 27, 2013 BSKYB Peel Hunt rates the broadcasting group “hold” with a target of 845p ahead of first half results due on Thursday. The broker expects BSkyB to report 3.4 per cent revenue growth to £3.45bn and flat operating profit of £577m as a result of higher programming costs. Longer term, Peel Hunt has concerns about growing [...]
UK firms set for busy week of trading reports January 27, 2013 THE UK’s corporate calendar is packed this week as many of Britain’s biggest companies deliver their results before the month’s end. Both AstraZeneca and Royal Dutch Shell are set to give full-year results on Thursday, while British Sky Broadcasting, Haynes Publishing and Rank Group will give interim reports. Trading announcements are also expected that day [...]