WHAT THE OTHER PAPERS SAY THIS MORNING November 16, 2010 FINANCIAL TIMES ABU DHABI MOVES TO SECURE FOOD SUPPLY Abu Dhabi is to make a bold foray into commodities with the establishment of a government-owned trading house aimed at securing food supplies for the import-dependent nation and capturing profit margins in metals and agriculture trading. People familiar with the plans say the company, which is [...]
BT warns Ofcom of legal challenge ahead of ruling November 16, 2010 TELECOMS giant BT has warned it could sue regulator Ofcom, after it refused to allow a rise in wholesale fees to rivals to help repair BT’s onerous pension deficit. An interim ruling in July by the regulator denied BT the opportunity to raise charges on its Openreach business, the subsidiary used by rivals to access [...]
Pensions clarity can hit investor risk perception November 14, 2010 COMPANIES which disclose pension liabilities in their accounts are increasingly taking a hit on investor perceptions, regardless of whether or not they have a pension deficit, new research has shown. Over half of finance directors surveyed in a recent PwC study on attitudes to pensions accounting said that information disclosed in their accounts gave investors [...]
FTSE 100 slips on financials’ exposure to Ireland’s debts November 11, 2010 FINANCIALS pressured Britain’s top share index yesterday as concerns over Royal Bank of Scotland’s exposure to Ireland’s debt troubles weighed on the bank, and ICAP fell after a downgrade from BofA Merrill Lynch. Weakness among financials offset gains in commodity-linked assets, which rallied after strong data from China, the world’s biggest consumer of raw materials, [...]
Profits at BT given a boost by broadband November 11, 2010 BT LAST night raised its full-year forecasts after bumper broadband sales boosted its profits. During the second quarter over 250,000 new broadband customers were added to its network, including rival firms renting BT lines. Virgin added 35,000 new broadband customers during the same period. BT’s new superfast broadband service “Infinity” is rising at a level [...]
Just 50,000 sign up to BT’s sports package November 11, 2010 BT yesterday announced its Sky Sports offering has limped to just 50,000 subscribers since its launch this summer. Chief executive Ian Livingston admitted the firm has a “lot more to do” but reiterated BT’s long term committment to the project. He said: “Around 10 per cent of our BT Vision subscriber base is now taking [...]
ANALYST VIEWS: JUST HOW GOOD ARE BT’S LATEST RESULTS? November 11, 2010 WILL DRAPER | EXECUTION NOBLE Although this is a brighter set of results from BT, with figures ahead on most measures and full-year guidance raised, much of the increased guidance had been anticipated. The interim dividend of 2.4p was the one area of disappointment, four per cent lower than our estimate. SIMON WEEDEN | CITI [...]
CITY PAYS ITS DEEPEST RESPECTS TO BRITAIN’S FALLEN WAR HEROES November 11, 2010 SILENCE blanketed the City of London yesterday at 11am, to mark the anniversary of Armistice Day, the end of the First World War. The largest remembrance ceremony took place at Lloyd’s of London, where 5,000 members of the insurance market gathered on the trading floor to watch on as their chairman Lord Levene and Lord [...]
BT raises forecast after broadband boost November 11, 2010 BT has raised its full-year core earnings outlook after posting better-than-expected second quarter results boosted by demand for broadband and its Global Services unit. It now expects to post full-year adjusted core earnings of around £5.8bn, compared with a previous pledge to perform in line with the year before which achieved earnings of £5.6bn. Britain’s [...]
BT wins hearing in fight against DEA November 10, 2010 THE Digital Economy Act was hanging in the balance last night after a judge granted a full hearing into claims the legislation was rushed through and could contravene EU rules. BT and TalkTalk have mounted a legal battle against the act, which they claim was not properly discussed before being passed during “wash-up” – the [...]