Cable under Sky pressure October 11, 2010 MEDIA giants yesterday united against Rupert Murdoch’s plans to buy BSkyB in an £8bn deal. DMGT’s Associated Newspapers, the Telegraph Media Group, Trinity Mirror and Guardian Media Group wrote a joint letter urging business secretary Vince Cable to intervene in the deal. The BBC, Channel 4 and BT also signed the letter. They argue the [...]
FTSE gains on hope of more banking stimulus measures October 11, 2010 Britain’s top shares rose yesterday as hopes that governments around the world would take steps to bolster economic recovery fuelled investor optimism. Meanwhile, bullish broker comment helped lift Petrofac and Weir Group, while Prudential, Autonomy and BP were hit by broker downgrades. The FTSE 100 closed up 14.79 points, or 0.3 per cent, at 5,672.40. [...]
BT must give access to its fibre network October 7, 2010 OFCOM yesterday said it will force BT to allow its rivals access to the former state phone firm’s superfast fibre broadband network. BT will also have to wholesale its infrastructure of telegraph poles and underground ducts in a bid to increase competition for superfast internet to rural areas. The decision supports government plans laid out [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 6, 2010 FINANCIAL TIMES BUSINESS PLEADS FOR A STRATEGY Business leaders urged David Cameron to turn his pro-enterprise rhetoric into a detailed strategy that would deliver better infrastructure and remove obstacles to growth. David Frost, director-general of the British Chambers of Commerce said corporate Britain was strongly behind the government’s effort to shrink the budget deficit but [...]
BT’s Tech Mahindra stake eyed October 5, 2010 Private equity firms including Apax Partners and Providence Equity have shown interest in buying BT Group’s stake in Tech Mahindra that is likely to be valued at $830m (£522m). BT has restarted discussions to sell its holding in Tech Mahindra following the restatement of financial numbers by the Indian IT services firm’s unit Mahindra Satyam. [...]
BEST OF THE BROKERS October 3, 2010 LEGAL & GENERAL Legal & General has confronted the UK life industry’s strategic challenges, transforming both its product range and cash flow, according to UBS. The broker maintains a “buy” recommendation and says that the fruits of this are now evident and the company has answered the existential questions that still vex some peers. TATE [...]
SUPERFAST BROADBAND HITS THE BEACH September 30, 2010 BT chief executive Ian Livingston (right) yesterday launched a major fibre broadband network in Cornwall as part of the firm’s goal of providing superfast internet to 66 per cent of the UK by 2015. BT worked with the local authority and Brussels to fund the roll out to some of the more remote parts of [...]
Pension funds back FRC code September 23, 2010 A RAFT of UK pension funds have come out in support of the Financial Reporting Council’s (FRC’s) new Stewardship Code. Eleven pension funds, collectively valued at £180bn, have banded together to back the new code, set out by the FRC in July. In a letter sent to the financial watchdog, the pension funds said they [...]
World’s 500 biggest firms guilty of carbon footprints September 19, 2010 THE WORLD’S 500 largest companies are responsible for more than 10 per cent of global emissions, new research by the Carbon Disclosure Project has found. Figures show that the world’s largest businesses contribute 11 per cent of global emissions. Roughly 65 per cent of these companies have implemented carbon emission reduction targets but a meagre [...]
BT accused of creating two tier internet September 14, 2010 A NEW BT service that will allow it to charge ISPs higher prices for better quality services has led to accusations it is creating a “two tiered internet”. BT’s Content Connect effectively creates an online space separate from the regular internet which ISPs can stream video without sapping bandwidth from regular users. The telecoms giant [...]