Sky to claw back £330m from sports cancellations ahead of Premier League restart June 16, 2020 Sky is set to receive rebates of up to £330m from organisers of leading sporting events, as the broadcaster seeks to shore up its balance sheet after months of cancelled events. The Premier League has agreed to return £170m to Sky, the Financial Times reported, after the UK broadcaster allowed customers to halt sports subscriptions [...]
HPE boss warns of Huawei cyberattacks June 11, 2020 Hewlett Packard Enterprise’s (HPE) managing director has warned of “data loss, privacy breaches and cyberattacks” if the government proceeds with Huawei technology in its 5G rollout. Speaking to City AM, Marc Waters said: “Securing the future of the UK’s mobile networks is a vital issue. Data loss, privacy breaches, and cyberattacks on individuals, organizations and [...]
O2 amps up pressure for UK networks to snub Huawei June 10, 2020 O2 today announced a partnership with Ericsson to upgrade its 5G technology, adding pressure for other telecoms firms to seek alternatives to Huawei as force grows for the UK to cut ties with the Chinese vendor. The UK telecoms firm last October confirmed plans for Ericsson to develop part of its 5G infrastructure. O2 today [...]
Vodafone lashes out over UK’s Huawei doubts June 10, 2020 Vodafone has warned that the UK’s desire to be a global leader in 5G technology will be crippled if it decides to block Huawei from the country’s telecoms infrastructure. “The UK’s leadership in 5G will be lost if mobile operators are forced to spend time and money replacing existing equipment,” said Scott Petty, Vodafone UK’s [...]
BT auditor highlights new accounting weaknesses June 8, 2020 The external auditor of BT has highlighted “material weaknesses” within the company’s financial reporting controls, in the latest upset to its accounting credibility. In a letter to the telecoms firm KPMG noted that BT “did not maintain effective internal control over financial reporting as of 31 March, 2020 because of… material weaknesses related to general [...]
Lloyds hit by investor backlash over executive pay package May 21, 2020 Lloyds was left reeling from a shareholder revolt today after more than a third of investors voted against the bank’s pay policy for top executives. The investor backlash came after influential proxy adviser group ISS recommended voting against the changes to the policy amid concerns it will all but guarantee long-term bonuses. While the rebellion [...]
BT bosses to waive millions in bonuses after dividend suspension May 20, 2020 BT’s top executives are said to be waiving cash bonuses for the next two years in a bid to appease investors following the company’s decision to suspend its dividend. Chief executive Philip Jansen and finance director Simon Lowth will defer their combined bonus payments of £2.2m for the next three years. They will also turn [...]
Huawei says ‘pernicious’ new US sanctions puts its survival at stake May 18, 2020 Huawei has slammed “pernicious” new sanctions rolled out by the US last week, warning they could put the Chinese tech giant’s survival at stake. “We expect that our business will inevitably be affected. We will try all we can to seek a solution,” Huawei’s rotating chairman Guo Ping said in a speech this morning. “Survival [...]
Woodford protege Mark Barnett leaves Invesco after 24 years May 15, 2020 Woodford protege Mark Barnett is leaving Invesco after 24 years, after a disappointing few months. Invesco confirmed the departure after Sky News reported Barnett would be leaving the firm after a difficult few months for the fund manager. It comes just weeks after he was sacked by Perpetual Income and Growth Trust after more than [...]
BT shares surge on possible sale of £20bn stake in Openreach May 15, 2020 BT’s share price jumped in early trading today following reports the telco is preparing to sell a £20bn stake in its fibre rollout arm Openreach. The telecom giant’s shares, which have been trading at a record low this year, rocketed 9.25 per cent to 111.6p on a Financial Times report that discussions were underway. BT [...]