FTSE knocked for fifth day as US results hit confidence July 20, 2010 BRITAIN’S top share index ended lower yesterday for a fifth straight session as generally disappointing US results hurt investor sentiment, offsetting strong gains from mining stocks buoyed by firmer metals prices. The FTSE 100 closed down 8.82 points, or 0.2 per cent, at 5,139.46, having fallen 0.2 per cent on Monday. TELECOMS HIT BY BUDGET [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 19, 2010 FINANCIAL TIMES FUND BEARS LEAD THE PACK IN VOLATILE MARKETS Bearish hedge fund managers are making their biggest gains since the collapse of Lehman Brothers. Only a handful of hedge fund managers have made money in May and June, when many of the industry’s biggest names were caught out by a sharp rise in market [...]
Virgin close to legal action over media JV July 15, 2010 VIRGIN?Media is almost certain to take legal action over a controversial video-on-demand venture backed by the BBC. Project Canvas is a joint venture between media giants including BT, TalkTalk and ITV that will offer video streamed over users’ broadband connections. It has come under fierce criticism by Virgin and Sky, who say it is bad [...]
The ascent of prime London’s new hotspot July 15, 2010 FITZROVIA, the area around the BT Tower, bordered by Oxford Street, Tottenham Court Road, Great Portland Street and Euston Road, should be Londoners’ idea of property heaven. The West End is on your doorstep, as is Regent’s Park. The ever-more exciting restaurant and bar scene of Goodge and Charlotte Streets, and the more established prettiness [...]
Pension trustees wait for court to decide what happens if BT goes bust July 14, 2010 Pension trustees at BT were last night awaiting a High Court ruling over how much of the telecom giant’s liabilities would be guaranteed by the state if it were to collapse. The former state telecoms monopoly was given a guarantee when it was privatised in 1984 that the government would back its pension scheme in [...]
Q&A: BT IN COURT July 14, 2010 Q.IS BT IN TROUBLE WITH THE LAW? A.Technically BT is in the dock but it insists its position is simply a technicality and it is standing alongside the pension trustees in seeking clarification from the government. Q.WILL BT LOSE OUT OVER THE RULING? A.BT says its agreement to pay back the deficit – currently standing [...]
BT trustees in court over deficit July 13, 2010 BT pension trustees have asked the High Court to determine how much of the firm’s final salary pension fund is guaranteed by the state. The taxpayer could be liable for between £7.3bn and £22.8bn if the company went bankrupt, court papers said yesterday. The case aims to clarify whether employees who joined the scheme after [...]
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 [...]