At the close: FTSE 100 index surges as banks’ share prices including Lloyds, RBS and Barclays rise February 25, 2016 The FTSE 100 index rocketed on Thursday as banking stocks surged, supported by the news that fourth quarter UK GDP was revised upwards to 0.5 per cent. The index closed 2.48 per cent higher at 6,012 points, led higher by Lloyds Banking Group and RSA Insurance Group. "European banks were the centre of market turmoil two [...]
Ofcom: BT’s share price rises as telecoms giant avoids Openreach spin-off – for now February 25, 2016 BT's share price climbed this morning after it narrowly avoided being forced to spin off Openreach into a separate company by the industry regulator. Ofcom has said BT must open up its network to competitors and reform Openreach "to better serve UK customers and businesses", but it stopped short of insisting it would have to carve up [...]
Telecommunications giant BT expected to avoid being broken up from Openreach, in verdict due this Thursday February 21, 2016 BT is expected to avoid having its infrastructure arm Openreach carved out this week, following months of campaigning for a split by the company’s rivals. City A.M. understands the decision will be announced on Thursday in Ofcom’s Digital Communications Review, though will reportedly include requirements for minimum-service standards between Openreach and BT’s rivals Vodafone, Sky, and [...]
Economic think tank calls for Openreach to be carved out from BT as Ofcom deadline looms February 17, 2016 BT faces fresh calls for its broadband infrastructure arm Openreach to be hived off today, after economists at the Centre for Policy Studies (CPS) found the UK is falling behind international competitors. The CPS also has warned Britain's current broadband infrastructure market appears anti-competitive and Ofcom should refer the issue to the Competition and Markets Authority [...]
Three owner Hutchison pledges five-year price freeze to ease competition concerns over merger with O2 February 4, 2016 Tens of millions of UK mobile phone customers could see their costs frozen for the next five years, as CK Hutchison tries to sway competition watchdogs over Three’s merger with O2. As Three’s parent company, Hutchison has pledged a #5bn investment to ease concerns over its proposed takeover of O2. Together, the two would create [...]
BT’s share price rises as it reveals new structure after EE acquisition – and the mobile brand is staying (for consumers at least) – as revenues reach seven-year high February 1, 2016 BT has unveiled sweeping changes to its structure, following the completion of its £12.5bn takeover of EE last week, as the business reports its best revenues in more than seven years. Although some had predicted the demise of the EE brand, the mobile firm will continue in its current form as far as "the consumer market [...]
BT’s share price climbs as it completes EE deal – creating UK’s biggest telecoms firm – but Ofcom’s decision on Openreach yet to be made January 29, 2016 BT's share price climbed this morning as it completed its £12.5bn takeover of EE today, in a deal that makes it the biggest telecoms firm in the UK. The deal, which gives BT instant access to around one in three mobile phone customers in the UK, is expected to help pave the way for the [...]
Channel 4’s new chairman named as Charles Gurassa by Ofcom to replace Lord Burns as privatisation question mark hangs January 26, 2016 Charles Gurassa, the deputy chairman of EasyJet has been named the new chairman of Channel 4, succeeding Lord Burns. “I am delighted that we have appointed a chairman of Charles’ calibre to Channel 4. He brings with him a wealth of experience built up across a broad range of sectors," said Ofcom chairman Dame Patricia Hodge. The [...]
Cross-party report says BT should be forced to sell Openreach January 23, 2016 A report backed by 121 cross-party MPs says that BT should be forced to sell Openreach due to poor performance. The report, published by the cross-party British Infrastructure Group (BIG), said that Openreach, the country's leading broadband provider, had only partially extended superfast broadband, despite £1.7bn of government money. Read more: BT Openreach boss Joe Garner steps down [...]
Advertising Standards slams telcos over broadband prices January 21, 2016 Apparently Britons are struggling to work out the cost of broadband contracts – but don’t worry, it’s not entirely due to a lack of mathematical ability. The Advertising Standards Authority (ASA) has teamed up with the communications watchdog Ofcom to censure broadband providers over the way they advertise their services. According to research commissioned by [...]