CBI: Labour pledges could “crack the foundations of the economy” November 18, 2019 The head of Britain’s biggest business group warned yesterday that Jeremy Corbyn’s policies could “crack the foundations of the economy” at the start of a week which holds the potential to define the upcoming General Election. Carolyn Fairbairn, head of the CBI, told Sky News that business leaders are asking “who’s next” after the “bolt [...]
TSB’s IT boss ‘kept board in dark’ ahead of tech meltdown November 17, 2019 TSB Bank’s head of IT reportedly failed to warn board members about “shortcomings” with the testing of a new technology system days before it suffered a huge meltdown. TSB is facing a lengthy investigation by City law firm Slaughter and May into the botched rollout of a new IT system that caused nearly 2m customers [...]
Labour’s BT plans show ‘misunderstanding’ of broadband industry, firms warn November 17, 2019 British broadband providers have slammed Labour’s proposals to nationalise parts of BT, saying the plans show a “fundamental misunderstanding” of how the industry works. Shadow chancellor John McDonnell last week said Labour would take Openreach and other parts of BT into public ownership, and promised free full-fibre broadband for every UK household. Read more: Labour [...]
Labour hasn’t factored BT’s pensions black hole into its nationalisation plan November 16, 2019 Here’s a riddle: how do you spend several billion pounds of taxpayers’ money and get nothing but a bunch of smiling accountants in return? The answer: tear Openreach out of BT, as Ofcom attempted a few years ago and Labour now proposes as part of its plan to nationalise the provision of ultrafast broadband. Read [...]
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 [...]
Interserve chief executive Debbie White set to step down next month November 14, 2019 The chief executive of outsourcer Interserve is reportedly stepping down at the end of the year, shortly after leading a restructuring that brought the company back from the brink. Debbie White, who has been chief executive at Interserve since 2017, is set to leave the company next month, Sky News reported. Read more: Outsourcer Interserve [...]
Terra Firma on brink of £160m care home deal with Barchester Healthcare November 14, 2019 A portfolio of care homes that private equity boss Guy Hands secured after a fierce legal battle is on the cusp of being sold for £160m. The 24 sites which are owned by Hands’ Terra Firma Capital Partners are close to being sold to care home operator Barchester Healthcare, Sky News reported. The deal would [...]
Disney Plus secures more than 10m subscribers in first day November 13, 2019 Shares in Disney rose more than three per cent today after the media giant revealed its new streaming service has nabbed more than 10m subscribers in its first day. Read more: Netflix and Nickelodeon sign original content deal in wake of Disney Plus launch The highly-anticipated launch of Disney Plus was beset by technical problems [...]
Cobham buyer Advent ‘mulls £2.5bn float of industrials firm Rubix’ November 13, 2019 The private equity giant which is in the process of buying British defence firm Cobham for £4bn is said to be mulling a float of another of its UK assets. Advent International, the US investment firm, has reportedly hired advisers to prepare the stock market debut of Rubix Group, a distributor of industrial repair kits, [...]