£30bn in the pipeline: This is the year UK firms will cut pension schemes loose January 4, 2017 Britain's companies will shift sky-rocketing pension liabilities from their balance sheets this year, experts have predicted. With defined benefit pension schemes at record year-end levels, 2017 will be year to de-risk and UK plc is keen to take advantage of the improved affordability of shifting scheme risk to the insurance, according to Willis Towers Watson (WTW). Read more: As pension [...]
You’ve copper-be joking? Small business report reveals two-thirds of firms are on old-style connections January 4, 2017 The majority of Britain's small businesses are not using fibre broadband, a report by the telecoms regulator has revealed. Although speed and reliability of internet services were the two key issues facing the UK's smaller firms, 67 per cent of businesses are using a non-fibre fixed line ADSL connection, a study of over 1,500 firms commissioned by watchdog Ofcom found. [...]
Pension deficits hit a record year-end high as experts warn on implications January 3, 2017 Britain's pension gap almost doubled during 2016 to the highest ever year-end level, according to data released today. The aggregate deficit of defined benefit pension schemes leapt to £434bn, according to JLT Employee Benefits, up from £233bn, 12 months before. Although deficits have pared back from all-time highs of over £500bn in August, experts predicted bumper pension [...]
Virgin Media boss is baffled by broadband windfall, saying it conflicts with Ofcom plans December 22, 2016 Virgin Media has hit back at news of a £440m broadband boost to the remote parts of Britain. The government announced today more money would be ploughed back into the country's telecoms infrastructure as a result of better than expected demand for superfast broadband in the hard to reach areas. The money is a rebate from [...]
Surprise broadband demand leads to an extra £440m of telecoms infrastructure investment December 22, 2016 Better than expected demand for fibre broadband in Britain's hard to reach areas has provided a £440m boost to the public purse. In 2013, the government launched its £1.7bn Broadband Delivery UK (BDUK) project. The initiative included a series of aims culminating in ensuring 97 per cent of the UK's households could connect to superfast broadband by 2020. BT were [...]
Are you with Britain’s most complained about telecoms provider? December 20, 2016 The number of people complaining about their broadband service is on the rise, according to the regulator. There were 20 complaints for every 100,000 customers in the three months to the end of September, up from 15 in the previous quarter according to the latest complaint data from Ofcom. BT topped the naughty list with 36 complaints [...]
Just over a billion quid: Regulator estimates the cost to deliver minimum broadband levels to 1.4m homes December 16, 2016 Regulators say at least £1.1bn needs to be spent on Britain's telecoms infrastructure to provide a "decent" level of broadband to the more than 1.4m homes in the UK that are currently forced to go without it. Ofcom today set out a series of proposals to the government on how it can deliver on its promise [...]
Revealed: The best and worst 4G operators in London December 16, 2016 Mobile signal. It's a constant source of frustration and debate among friends and colleagues – and conversations often centre on which operator is worst. And let's be honest, when that emblem in the top corner of our phone turns from 4G to "E" or "GPRS", our hearts sigh. "How can it be there is no coverage when I'm in the middle [...]
Murdoch swoops: 21st Century Fox agrees Sky takeover deal December 15, 2016 Rupert Murdoch's 21st Century Fox today agreed a takeover deal for UK broadcaster Sky. Fox, which already owns 39 per cent of Sky, has made a £10.75-per-share offer, worth £11.7bn. The approach values the whole of the UK media giant at £18.5bn. Fox said it would be using a scheme of arrangement, meaning it would need 75 [...]
Shortlist narrows for BBC chairmanship December 14, 2016 The shortlist for the new BBC chairmanship has narrowed to around six, with the government aiming to name the successful candidate early next year. Former Prudential chairman and Bank of England deputy governor Sir David Clementi, who was one of the architects of the new system under which the position has been created, is reported to [...]