Oneweb raises $550m as French satellite firm Eutelsat takes major stake April 27, 2021 Oneweb today said it had raised $550m (£395m) in fresh funding from French satellite firm Eutelsat as the race to roll out space internet services gathers pace. Eutelsat, which is part owned by the French state, will take a stake of roughly 24 per cent in the British company and take on similar governance rights [...]
Premier League set for TV cash boost after it agrees to renew £4.7bn contracts with Sky, BT and Amazon on same terms April 27, 2021 The Premier League is close to renewing its £4.7bn domestic broadcast contracts with Sky, BT and Amazon, according to reports. It has chosen a private sale to current partners on the same terms as existing deals rather than a traditional auction of the rights for 2022-2025, according to SportBusiness Media. The arrangement must still be [...]
Premiership Rugby chief executive Darren Childs to quit and become advisor to shareholder CVC Capital Partners April 21, 2021 Premiership Rugby chief executive Darren Childs is to step down and become an advisor to CVC Capital Partners, which owns a minority stake in England’s top division. Childs, who only took up the role two years ago, will leave in the next few weeks, Premiership Rugby said. Predecessor Mark McCafferty also went on to advise [...]
Amazon executive in conflict of interest row over UK space role April 20, 2021 A senior Amazon executive is said to be in the running for a role as government space adviser despite concerns over serious conflicts of interest. Peter Marquez, head of space policy at Amazon, has been put forward to serve as a temporary, unpaid adviser to the government. He would take up the position alongside his [...]
Furious UEFA warns clubs: Join European Super League and we will ban you and your players April 20, 2021 UEFA president Aleksander Ceferin has warned the football body is working to ban breakaway European Super League clubs and their players from its competitions “as soon as possible” and urged domestic leagues to follow suit. Twelve clubs, including the Premier League’s so-called ‘big six’, are part of plans which would fundamentally alter the shape of [...]
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 [...]