Saudi Arabian takeover of Newcastle United off as bid withdrawn July 30, 2020 The Saudi Arabia-backed bid to takeover Newcastle United football club has been withdrawn this afternoon. A consortium made up of the Gulf state’s Public Investment Fund, PCP Capital Partners and the Reuben brothers had reportedly made a £300m bid to businessman Mike Ashley for the Premier League team. In a statement, the group said: “With [...]
Openreach to deliver fibre to 3.2m extra homes as it slams government inaction July 29, 2020 BT’s infrastructure arm Openreach has pledged to extend its fibre service to 3.2m extra homes by 2025, as it said the government was “running out of time” to meet its connectivity targets. Openreach today unveiled plans to bring full-fibre broadband to the UK’s “hard-to-reach” areas, as part of BT’s £12bn plan to connect more than [...]
UK broadband customers to save £270m following Ofcom review July 28, 2020 Broadband customers who choose not to sign up to contract deals are set to make total savings of £270m each year from pricing changes following a new Ofcom review. A report released today by telecoms watchdog Ofcom found that broadband companies are failing to protect customers from high out-of-contract prices, in a move that is [...]
Vodafone shares slide as operator ‘calculates cost’ of Huawei ban July 24, 2020 Vodafone shares dipped more than five per cent this morning as the telecoms firm said it was still “calculating the cost” of removing Huawei kit from its 5G network following a government ban on the Chinese vendor. Vodafone chief executive Nick Read told reporters this morning the firm was “clearly disappointed” in the government’s decision [...]
Vodafone targets 2021 IPO for European towers unit July 24, 2020 Vodafone today confirmed it would target an early 2021 initial public offering (IPO) for its European telecoms towers business. The spin-off will see the division renamed Vantage Towers after Vodafone signalled its intention to separate the unit to maximise shareholder value. Vodafone said it will seek a prime listing in Frankfurt for its European mast [...]
Ericsson shares soar as 5G sales boost profit July 17, 2020 A rise in 5G network sales and software revenue helped Ericsson report higher-than-expected quarterly core earnings today, as it stuck to 2020 and 2022 financial targets. The Swedish company has experienced a recovery under Borje Ekholm – a former CEO of Investor AB- who took the position in 2017, having been chosen to steer the [...]
Markets live: FTSE 100 and US stocks soar as vaccine optimism builds July 15, 2020 The FTSE 100 doubled its gains on Wednesday as investor optimism about a coronavirus vaccine grew stronger, also fuelling US and European stocks. London’s blue-chip index climbed as high as 6,241 as it opened trading this morning, following positive trial results of a Moderna vaccine. By 1.30pm the FTSE 100 was up 2.07 per cent [...]
Our favourite restaurants and bars re-open! July 15, 2020 As businesses make their first steps back towards ‘normal life’ we have listed some of our favourite London spots to help you keep up to date with what’s on offer across the City. 1 Lombard Street will reopen on 20th July with some exciting new changes as chef, restaurateur and food writer Mark Hix joins the [...]
Rival firms prepare to scoop up Huawei market share after government ban July 14, 2020 Rival telecoms firms welcomed the government’s announcement today that the UK will ban new Huawei products from its 5G infrastructure from next year, in a move that could signal a “gold rush” as alternative vendors scramble to scoop up Huawei’s market share in the UK. Speaking in the House of Commons today, culture secretary Oliver [...]
Former BP boss Lord Browne to step down as Huawei UK chair July 14, 2020 Lord John Browne has resigned as UK chairman of Huawei, ahead of an expected ban on the telecoms provider to be announced later today. He will step down from the board in September, ending his tenure seven months early. Culture secretary Oliver Dowden is expected to tell MPs this afternoon that the government will ban [...]