Crucial court date for BT over pension deficit July 11, 2010 TELECOMS giant BT will this morning begin a court case that could have a momentous impact on its future. Trustees of the firm’s pension plan are seeking a ruling on how far the government will underwrite the bloated scheme. If the ruling goes in the trustees’ favour BT will have to pay significantly less to [...]
Desmond may bid for Five July 11, 2010 EXPRESS Newspaper owner Richard Desmond has emerged as an unlikely frontrunner in the battle to buy Channel Five. The owner of adult channel Television X has made no secret of his desire to expand his media empire but this is the first time he has been linked to the struggling terrestrial broadcaster. It is understood [...]
BT pay deal averts strike action July 9, 2010 BT and the Communication Workers Union (CWU) have sealed a deal on pay, heading off strike action. Under the agreement BT workers receive a 9.3 per cent pay rise over 39 months. BT had previously offered a 5.1 per cent rise over 21 months. The company described the deal as “unprecedented” while the union said [...]
Coalition tells top suppliers to cut the cost of services July 8, 2010 FRANCIS Maude, the minister for the Cabinet Office, yesterday hauled in the bosses of blue-chip companies and asked them to cut the cost of the services they provide to the government. Nineteen chief executives, from the likes of Serco, BT, Logica and Vodafone, were summoned to the meeting and told to do their bit to [...]
BT and TalkTalk to fight piracy laws July 8, 2010 BT AND TalkTalk will fight controversial new anti-piracy laws in the courts, they revealed yesterday. The internet providers say the Digital Economy Act, which was rushed through parliament earlier this year, will unfairly target their users and could hurt their businesses. The “draconian” act could force ISPs to disconnect users suspected of repeatedly downloading copyrighted [...]
Tottenham ready to mount a league title challenge – Bale July 8, 2010 TOTTENHAM flyer Gareth Bale believes Spurs are ready to take another step up and mount a challenge for the Premier League title next season. Harry Redknapp ended years of frustration in May when he led the White Hart Lane outfit to fourth place and a first ever shot at the Champions League. And Wales star [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 7, 2010 FINANCIAL TIMES ENERGY-FOCUSED HEDGE FUNDS FEEL HEAT OF MARKET VOLATILITY Hedge funds focused on energy markets have suffered a rocky start to the year, hit by volatile commodity prices and the Gulf of Mexico oil spill disaster. Many funds have been left nursing double-digit percentage losses over the first six months of the year. The [...]
BEST OF THE BROKERS July 7, 2010 BMW Barclays Capital reiterates a “strong buy” for BMW, based on its new forecasts. BarCap said that it believes that the luxury market provides a safehaven in the volatile European auto sector, due to its net exports, strong emerging market sales and lack of exposure to scrappage schemes. PERSIMMON JP Morgan Cazenove said that Persimmon [...]
Botched ballot saves BT from strike action July 5, 2010 BT escaped its first strike in 23 years after its workers’ union botched a vital ballot. The Communication Workers’ Union (CWU) was convinced it had secured enough votes to organise a walk out later this summer, with BT scrabbling to provide cover for maintenance work and even planning to draft in management to answer the [...]
Battle of the broadcasters – BT vs SKY July 1, 2010 • BT yesterday attacked its major TV rival, offering Sky Sports 1 for as little as £6.99 a month • Sky pre-empted the BT move by hiking its wholesale prices, hitting the telecom firm hard IAN Livingstone, BT chief executive, could be staring down a £100m-a-year black hole after announcing a ground-breaking football package. The [...]