PERSONALITY OF THE YEAR July 29, 2012 TODAY we kick off the countdown to the City A.M. Awards with the first of the shortlists – for Personality of the Year. Our awards, now in their third year, have established themselves as a key part of the business calendar, celebrating all of the City’s main sectors and the people that make sure London [...]
TalkTalk battles Sky with pay-TV service July 26, 2012 BUDGET broadband provider TalkTalk bid to take on Sky, Virgin Media and BT yesterday as it unveiled plans to launch a pay-TV service in tandem with the newly released YouView set-top box. The company also appointed Sony chairman Sir Howard Stringer to its board as it said it lost 19,000 customers in the quarter to [...]
BT rocked by fall in European contracts as shares plummet July 25, 2012 SHARES in BT slumped yesterday as the extent of the telecoms operator’s European woes were laid bare, with the firm announcing a six per cent drop in revenues. BT’s lossmaking global services arm, which provides phone and internet services to multinational corporations and governments, saw contracts dry up in the three months to July, with [...]
FTSE ends flat as patchy earnings steal focus away from Eurozone July 25, 2012 BRITAIN’S top share index steadied yesterday, pausing after three days of falls thanks to a mixed batch of corporate results that pitted a weak showing in Europe for GlaxoSmithKline and BT against a sterling performance for chipmaker Arm. The international backdrop also offered conflicting signals, with weak US data on the one hand and growing [...]
BT cuts costs to offset revenue slide July 25, 2012 BT had to rely on deep cost cuts in the first quarter to lift core earnings 2 per cent after tough conditions in southern Europe and the financial sector hit overall revenues. Britain’s biggest fixed-line telecoms firm reported first quarter revenues down 6 per cent to £4.48bnand an outflow of normalised free cash flow of [...]
FTSE edges down as UK borrowing rises July 20, 2012 Telecoms giant Vodafone pushed the FTSE 100 lower while UK government borrowing came in above estimates this morning. The Office for National Statistics said that public sector net borrowing excluding financial sector interventions rose last month to £14.4bn from £13.9bn in June 2011. On London’s blue chip index Vodafone fell 1.3 per cent after the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 19, 2012 FINANCIAL TIMES EU targets Google mobile services Europe’s antitrust enforcer is demanding that Google makes sweeping changes to its mobile services as it paves the way to serve formal charges against the company for anti-competitive behaviour should talks over a settlement collapse. The regulator is worried about how Google favours its own products in search results; [...]
FTSE tracks Wall Street losses July 11, 2012 The FTSE 100 fell in early trading tracking overnight losses on Wall Street as the US earnings season revealed corporate weaknesses. US stocks fell for a fourth day after a sales warning from engine maker Cummins came on top of earlier weak forecasts from chipmakers Applied Materials and Advanced Micro Devices. In London luxury retailer [...]
LONDON REPORT July 8, 2012 ALL eyes will be focused on the Treasury Select Committee hearing today, as deputy Bank of England governor Paul Tucker presents his side of the story in the Barclays/ Libor scandal. His appearance will be followed tomorrow by one from Marcus Agius, the former Barclays chairman. Today sees trading updates from housebuilder Bovis – expected [...]
Ofcom moves to cap BT’s wholesale prices July 5, 2012 TELECOMS giant BT could see its revenues suffer following yesterday’s proposal by Ofcom of price caps on its wholesale charges. The telecoms regulator wants to cap the fees BT charges for the lease of its telecom lines, which provide high-speed links for businesses, broadband providers and mobile services. The proposals follow a review by Ofcom, [...]