Setback for Phorm after BT opts out July 6, 2009 SHARES in the controversial online behavioural monitoring firm Phorm plummeted 42 per cent to 265p yesterday after BT said it had no immediate plans to roll out the firm’s Webwise Discover service. Telecoms giant BT was a major player in the development of the system, which collects information on users’ online behaviour and targets them [...]
BT denies its new executive pay plan is in response to investor pressure July 5, 2009 TROUBLED telephone operator BT has denied its programme of cutting base salaries for its executives to below the industry standard is designed to head off a shareholder revolt at a shareholder meeting this month. The group said its remuneration committee began the changes as early as 2007, and they are designed to motivate staff to [...]
CITY MOVES WHO’S SWITCHING JOBS June 30, 2009 TalkTalkThe broadband provider has appointed David Cooper as chief information officer. Cooper will be responsible for the firm’s IT systems and, in particular, will oversee the integration of those systems with Tiscali UK, which it acquired in May for £236m. He previously worked at BT during the 1980s and 1990s, and most recently spent seven [...]
EU approves Carphone deal June 30, 2009 TELECOMS and retail group Carphone Warehouse received approval from European Union antitrust authorities yesterday for its £236m takeover of Internet service provider Tiscali UK. The European Commission, executive arm of the 27-nation European Union, said in a statement that the transaction would not impede competition. It said that though Carphone Warehouse and Tiscali UK, a [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 29, 2009 FINANCIAL TIMES BT’S PENSION SCHEME TO HOLD LESS IN EQUITIESThe BT Group Pension Scheme had only enough money at the end of 2008 to pay about 57 per cent of promised benefits if the telecommunications company were to become insolvent, and said it intended to pare back sharply its future investments in equities in the [...]
Ofcom should stop persecuting BSkyB June 28, 2009 REWARDS for failure, we all agree, need to be eradicated. Everybody has had their fill of those – in the City, in government and elsewhere – who have pocketed a fortune while failing to deliver or even destroying institutions. But successful, entrepreneurial firms that have risked their owners’ capital, taken huge gambles and delivered vastly [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 28, 2009 THE SUNDAYSThe Sunday TelegraphCAMELOT LAUNCHES CONSULTANCYCamelot, the national lottery group, has launched a consultancy business to lotteries globally and is close to winning its first piece of business advising the California operator. Camelot Global Services, an independent company, is expected to be appointed as a consultant to the California State Lottery and advise the US [...]
Energy groups must modernise June 28, 2009 Executives from top UK companies including Tesco, Rolls Royce and BT have warned the big six energy groups that their draconian contract terms will lead to more job losses unless they are massively overhauled. The Major Energy Users’ Council will hold a crisis meeting tomorrow.
THE LONDON REPORT June 25, 2009 THE FTSE 100 dropped 0.6 per cent yesterday, led by banks after a trading update from Standard Chartered failed to excite investors while commodity stocks were also under pressure. The index closed down 27.41 points at 4,252.57, after gaining 1.2 pe rcent in the previous session. Banks shaved most points off the index after Asia-focused [...]
Cable & Wireless powers ahead with a fifteen-year National Grid agreement June 24, 2009 COMMUNICATIONS group Cable & Wireless (C&W) yesterday secured a 15-year deal with National Grid, worth £207m, to support electricity transmission in the UK. C&W will design, deliver and manage a telecoms network for National Grid, becoming a key player in a new era of power transmission, and challenging BT’s dominant position as a next a [...]