Four reasons to fear Labour’s plan to part-nationalise BT November 15, 2019 British businesses today poured scorn on Labour’s plans to provide Brits with free broadband and part-nationalise BT, slamming the policy as a major setback for the UK’s digital economy. Labour leader Jeremy Corbyn has set out plans to nationalise BT’s full-fibre arm, Openreach, along with other divisions, funding it by taxing multinational tech giants. Read [...]
21 UK stocks in danger from a Labour election win November 15, 2019 The Labour party today announced it will nationalise parts of BT if it wins power in December’s General Election. The party would nationalise the telecoms giant’s Openreach fibre rollout arm in a bid to create a UK-wide network owned by the government. Read more: BT chief executive warns Labour’s part-nationalisation would cost £100bn Shadow chancellor [...]
Labour leader Jeremy Corbyn’s British broadband speech in full November 15, 2019 Jeremy Corbyn has laid out plans to provide free full fibre broadband to every UK household and part-nationalise BT this morning. Labour said that the policy, the cost of which was estimated at £20bn, would be funded by taxing multinational tech giants. The policy announcement sent BT’s share price down over two per cent this [...]
BT CEO warns Labour’s part-nationalisation plan could cost £100bn November 15, 2019 BT’s chief executive Philip Jansen has warned that Labour’s plan to renationalise parts of the telecoms giant could cost more than £100bn. Labour will reveal its election pledge to part-nationalise BT later today, with the policy announcement sending BT’s share price down as much as three per cent in early trading. “These are very, very [...]
Labour’s BT plans force Talk Talk to pause sale of Fibrenation November 15, 2019 Broadband provider Talk Talk’s chief executive Tristia Harrison said that Labour’s plans to nationalise BT’s Openreach arm had forced the company to pause negotiations over the sale of its Fibrenation sister business. On a call with reporters, Harrison said: “Negotiations are going very well, but the news overnight means that we are all pausing, considering [...]
Talk Talk back in the black as City Fibre circles broadband arm November 15, 2019 Talk Talk revealed a £4m half-year profit today amid reports that it is close to a deal to sell its Fibrenation sister company to Cityfibre, the UK’s largest alternative broadband network provider. Sky News reported that although sources warned that the deal had not yet been finalised, there was a chance the agreement could be [...]
City reacts with shock to Labour’s plans to part-nationalise BT November 14, 2019 The City reacted with shock tonight to Labour’s plans to part-nationalise FTSE 100 giant BT and promise free full-fibre broadband for every UK household. Labour unveiled the new £20bn policy late last night and said it would pay for its plan by levying a tax on tech giants such as Amazon, Google and Facebook. Chief [...]
Former Man Group president Jonathan Sorrell to join Capstone November 12, 2019 The former president of FTSE 250-listed hedge fund Man Group Jonathan Sorrell is joining hedge fund Capstone. Sorrell, son of former WPP boss Sir Martin Sorrell, stepped down as an executive director of Man Group in September. He had been at Man Group since 2011 when he joined as chief financial officer. Previously, he had [...]
Vodafone threatens to withdraw from India amid dispute over taxes November 12, 2019 Vodafone has warned it may pull out of India unless the government grants it a series of remedies, after a court ruling in the country dragged the firm to a €1.9bn (£1.6bn) half-year loss. Chief executive Nick Read today said the firm was in a “critical” situation in the country amid a fierce battle with [...]
Vodafone improves guidance but lowers dividend after €1.9bn loss November 12, 2019 Vodafone hiked its full-year earnings guidance today as organic earnings rose 1.4 per cent in its second quarter, but the telco fell to a loss of almost €1.9bn in its latest half-year results. Read more: BT shares fall as Virgin Media decides to ditch BT mobile for Vodafone network The figures Vodafone fell to a [...]