Former BT boss Gavin Patterson approached over Super League top job April 19, 2021 The former chief executive of BT is said to have been approached about heading up a controversial new football competition dubbed the European Super League (ESL). Organisers made an informal overture to Gavin Patterson, who left the telecoms giant in 2019, over becoming the inaugural boss of the venture, Sky News reported. His name is [...]
Cyber firm Darktrace confirms plans for London float in early May April 19, 2021 UK cybersecurity company Darktrace today confirmed it will float on the London Stock Exchange in the coming weeks as it looks to build on a successful pandemic year. The firm’s offer price will be determined following a book-building process, with the listing expected to take place early next month. The company is understood to be [...]
FTSE 100 pushes above 7,000 for first time since Covid crash as Wall Street hits new records April 16, 2021 London’s FTSE 100 rose above the 7,000-mark today for the first time since Covid pummelled financial markets last year. Across the Atlantic, Wall Street again hit new record highs on the back of a bumper set of earnigns from America’s banking giants. Speedy vaccine rollouts and government policy support has lifted investor confidence about a [...]
Competition watchdog clears £31bn O2-Virgin Media merger April 14, 2021 The competition watchdog has provisionally cleared the £31bn merger between O2 and Virgin Media following an in-depth investigation. The Competition and Markets Authority (CMA) launched a probe into the tie-up amid concerns it would harm competition in the wholesale market. Virgin Media provides leased lines to mobile operators such as Vodafone and Three, while O2’s [...]
UK urged to use new telecoms suppliers after Huawei ban April 13, 2021 The UK must ensure smaller telecoms suppliers play a major role in the country’s 5G network following the decision to ban Chinese tech firm Huawei, according to a new report. The vendor diversity task force, which was set up last year to lead the search for a replacement to Huawei, said smaller equipment makers should [...]
Darktrace revenue hits $200m as it confirms London float April 12, 2021 Darktrace today said its revenue surged to almost $200m (£146m) thanks to the pandemic as it confirmed plans to float on the London Stock Exchange. In a filing this morning the Cambridge-based tech firm unveiled its intention to list in London, with its registration document due to be published later today. Darktrace did not provide [...]
FTSE 100 jumps on post-lockdown hopes but Wall Street flat April 6, 2021 London’s FTSE 100 climbed by 1.4 per cent today as prospects of a planned re-emergence from lockdown next week boosted shares. The capital’s premier index currently stands at 6,840, its highest levels since 11 January. Across the Atlantic, however, the mood was more subdued, with Wall Street’s main markets flat at the open this afternoon. [...]
Exclusive: FTSE 100 dividend yields forecast to jump by 24 per cent this year March 31, 2021 Dividend yields on FTSE 100 shares may rise by 24 per cent this year as the economy begins its recovery from the coronavirus recession, according to new research shared with City A.M. this morning. Based on a consensus of analysts’ views on how dividends will increase over the next year, UK equity analysts at Bowmore [...]
Huawei: Growth slows amid geopolitical tensions, but smart cities on the horizon March 31, 2021 Huawei took home $137.7bn in revenue last year, an uptick of just 3.8 per cent year on year, as it saw a lift to its enterprise business amidst geopolitical tensions. The Chinese telecoms giant enjoyed a 23 per cent boost to its enterprise business which earned $15.4bn, as it has channelled its focus away from [...]
Ofcom to build Manchester tech hub as it gears up for new online role March 26, 2021 Ofcom today unveiled plans to open a new tech hub in Manchester as it prepares to take on its new role as the UK’s first online regulator. The media watchdog said its new base, which is set to be up and running by the summer, will create 150 new jobs by 2025. The organisation will [...]