THE TIPSTER November 23, 2009 ASIAN markets have been struggling to keep up with the likes of European and US indices, which have continued to mark new highs for 2009. The Japanese Nikkei has failed around the 10,500 level a few times between July and October but its weakness could provide a buying opportunity ahead of the seasonal rally higher [...]
Tesco pushes into broadband as drive beyond groceries continues November 19, 2009 TESCO has set its sights on capturing a bigger slice of the broadband and home phones market as part of a drive to increase revenues from more profitable non-grocery markets. The supermarket group said it had agreed a five-year deal with Cable & Wireless for the telecoms firm to supply it wholesale broadband services. This [...]
Tesco to tie up with C&W November 19, 2009 Tesco, the UK’s biggest supermarket, is set to spark a price-war in the telecoms sector when it ties up with Cable & Wireless. The new venture will threaten rivals BT, Virgin Media and Carphone Warehouse. The tie-up is forecast to generate £2bn in annual sales and £200m in yearly profits over the medium term.
C&W to raise 200m as it unveils demerger plan November 17, 2009 Telecoms group Cable & Wireless (C&W) is to split itself in two in a de-merger and tap the bond market to fund the deal. C&W will de-merge its worldwide unit, which supplies services to blue-chip companies in Europe, Asia and the US, from its international division, which provides fixed-line, mobile and broadband services in the Caribbean, [...]
BEST OF THE BROKERS November 17, 2009 BT GROUPJP Morgan downgraded BT to “neutral”, saying that the group delivered on earnings in its first-half, but that there is reduced upside and scope for positive surprises. This and the increased pension liability drove the downgrade to the broker’s valuation, with the target price dropping to 170p. It believes the pending pension review will [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 16, 2009 FINANCIAL TIMES MOBILE MAKERS ACT TO CURB FAKE PHONESThe global mobile phone industry is trying to rein in the rapid worldwide spread of illegitimate handsets by introducing a stricter regime for the allocation of handset identification numbers. The move comes as unlicensed Chinese handset manufacturers have started flooding the world market with exports in a [...]
British Airways and Iberia merger sends FTSE soaring November 12, 2009 BRITAIN’S FTSE 100 hit its highest close in three weeks yesterday as British Airways soared with investors cheered as a merger with Iberia looked imminent, while gains were also powered by strength in banks. But the rise was limited by falls in commodity prices hitting miners and energy stocks, which together constitute a third of [...]
BT sees slide in profits but lifts cost cuts November 12, 2009 BT GROUP yesterday reported a 45 per cent drop in first-half profits, but upped its full-year guidance and said it had seen improvements at its troubled Global Services (GS) division. The telecoms giants said that cost cutting measures had enabled it to report a two per cent increase in second-quarter earnings to £1.43bn, and free [...]
Anglo American snaps up Hampton to boost board November 9, 2009 MINING company Anglo American yesterday confirmed the appointment of RBS chairman Sir Philip Hampton to the board. Sir Philip joins as non-executive director in the latest of a series of senior changes at the precious metals group. Seen as a heavyweight figure in the City, Sir Philip was previously chairman of J Sainsbury, a position [...]
ITV lifted by recovery and hiring hopes November 5, 2009 SHARES in ITV soared yesterday after the commercial broadcaster forecast an upturn in advertising revenue, and ex-City financier Bob Wigley was said to be in pole-position to take over as its new chairman. In a surprise market update, the troubled broadcaster forecast a four per cent rise in net ad revenue (NAR) for December, as [...]