An ex-Ofcom employee stole commercially sensitive data about the UK’s major TV broadcasters – and then offered it to one of them March 10, 2016 Ofcom has admitted that a former employee stole data from the regulator exposing commercially sensitive information about the UK's biggest TV companies. The ex-employee, having left Ofcom, joined one of those TV companies – and offered the information to their new employer, bringing the theft to light, City A.M understands. Ofcom was made aware of the theft two weeks ago [...]
Banking Standards Board (BSB) chairman Dame Colette Bowe says rebuilding the trustworthiness of British banking will be a “long haul” March 8, 2016 Building the trustworthiness of the British banking sector will be a “long haul”, a former regulator has warned, as the Banking Standards Board (BSB) publishes its first annual review. The BSB is an independent body set up last year to improve standards of behaviour in the Square Mile and restore the public’s trust in financial [...]
BBC’s self-regulating trust should be scrapped, independent report by former Bank of England deputy governor finds March 1, 2016 The BBC’s self-regulating body, the BBC Trust, should be scrapped, a new independent report has suggested. Sir David Clementi, a former deputy governor of the Bank of England, was tasked with conducting the review into how the BBC is regulated and governed as part of the Government's review of the corporation’s Royal Charter. He has recommended today that the BBC Trust [...]
Banking Standards Board (BSB) names Sir Brendan Barber deputy chairman, replacing former Treasury Select Committee chairman Lord McFall March 1, 2016 A former trade union boss has been named deputy chair of an influential body tasked with improving standards of behaviour in the Square Mile and restoring the public’s trust in financial institutions. The Banking Standards Board (BSB) announced today that Sir Brendan Barber would take the number-two role on the board, replacing former Treasury Select [...]
Britain needs to take a giant leap forward and embrace radical competition to achieve ultrafast broadband February 29, 2016 London is one of the world’s greatest cities, and arguably the pre-eminent global financial centre. The UK has 17 of Europe’s 40 tech unicorns (startups valued at $1bn or more), and all bar three of these are in London. And yet, compared to other European cities, its broadband infrastructure – the vital sensory network of a [...]
IoD: UK broadband ambition needs to be “a thousand times” higher February 29, 2016 The Government stood today accused by business leaders of a “poverty of ambition” when it came to UK broadband speeds. The Institute of Directors (IoD) also called for a new target for households and business to have access to speeds of 10 gigabits per second (Gbps) by 2030, 1,000 times faster than the current official [...]
BT Openreach ruling: Has Ofcom done enough to ensure broadband competition? February 26, 2016 Dana Tobak, managing director of Hyperoptic, says Yes. Yes – for now. Ofcom has rightly focused on the key areas of change required to promote investment in fibre and to support true product competition for consumers. By keeping structural separation as the potential “naughty step”, Ofcom has ensured that Openreach should be compelled to partner in [...]
TalkTalk accuses Ofcom of dodging BT Openreach decision after digital review demands better access for rivals, sending BT’s share price soaring February 25, 2016 TalkTalk boss Dido Harding has slammed Ofcom for “kicking the Openreach can down the road”, after the telecoms regulator decided not to split off the infrastructure arm from BT. Ofcom yesterday released the results of its once-a-decade industry review that stopped short of demanding Openreach be hived off from BT, but said the option was still [...]
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 [...]