FTSE 100 movers: BT surges on results
30th Jul 2009 14:46
Telecoms giant BT leads the FTSE 100 higher after investors shrugged off a 45% drop in first quarter profits and a jump in its pension deficit of £3bn. Investors were also buoyed by the adjusted EBITDA falling only 3% to £1.37bn, which was ahead of analyst's expectations. But pre-tax profits slid
Read moreLondon midday: Footsie tops 4600
30th Jul 2009 11:54
Footsie has broken through the 4,600 barrier, helped by well received results from index heavyweight BT and strong demand for miners. Telecoms giant BT racked up a double-digit percentage gain in the morning after quarterly figures that were not as bad as feared. EBITDA (earnings before interest, t
Read moreUpdate: BT surges despite profit slump
30th Jul 2009 11:09
Telecoms giant BT posted a 45% drop in first quarter profits and said its pension deficit ballooned by £3bn but shares ticked higher as investors concentrated on the firm's cost cutting measures. Investors were also buoyed by the adjusted EBITDA falling only 3% to £1.37bn, which was ahead of analy
Read moreSector movers: Better than expected BT results lift telecom sector
30th Jul 2009 10:52
The telecommunications sector jumps ahead after BT's results, while still fairly grim, were ahead of expectations. The firm saw profits slump in the first quarter, held back by BT Global Services, while its pension deficit surged. The group said net pension position at 30 June 2009 was a deficit o
Read moreLondon open: Positive start to busy day
30th Jul 2009 08:16
Investors have a batch of results to consider this morning, with BT currently leading London's blue chips higher after publishing quarterly figures. Telecoms giant BT saw adjusted EBITDA fall 3% in the first quarter, held back by BT Global Services. It saw adjusted EBITDA come in at £1.3bn against
Read moreBT profits fall, pension deficit jumps
30th Jul 2009 07:38
Telecoms giant BT saw profits slump in the first quarter, held back by BT Global Services, while its pension deficit surged. The group said net pension position at 30 June 2009 was a deficit of £5.8bn, compared with a deficit of £2.9bn at 31 March 2009 "The deterioration in the position since 31 Ma
Read moreInformation superhighway hit by traffic jams
28th Jul 2009 08:12
Most broadband users stuck on old fashioned copper-based networks are receiving nowhere near the advertised top download speed from their Internet service providers (ISPs) the communications watchdog Ofcom confirmed Tuesday. Providers that offer “up to 8 megbits per second (Mbps)” download speeds v
Read moreBT Vision expects to offer BSkyB football
27th Jul 2009 15:42
BT Vision, BT's pay-tv operation, expects to offer all BSkyB's English Premier League package to its customers by the start of the next football season. "I want to add Sky Sports to our offering, there's no question about that," said Mark Watson, the incoming chief of BT Vision, to The Independent.
Read moreMonday newspaper round-up: Shell, National Express, Volkswagen
27th Jul 2009 06:20
Royal Dutch Shell is poised to announce a fresh wave of cuts in senior jobs this week as Peter Voser, the new chief executive, intensifies an aggressive restructuring drive within Europe's largest company. The Anglo-Dutch oil company will reveal alongside its interim results on Thursday that up to
Read moreKCOM still confident of improvement
24th Jul 2009 07:13
Hull-based telecoms group Kcom has stated again that trading this year so far is on track and it remains confident it will deliver an improved financial performance. Earlier this month, Kcom restructured around two businesses: the East Yorkshire business and Eclipse Internet; and a national managed
Read moreVodafone takes over BT's Irish broadband customers
22nd Jul 2009 15:15
Mobile telecoms firm Vodafone has agreed a deal to takeover BT's consumer and small business broadband and voice customer base in Ireland. BT will also provide wholesale network services to underpin Vodafone's business over a seven-year period. BT said it will continue to focus on becoming the numb
Read moreThursday newspaper round-up: City pay, Rio Tinto, BT
16th Jul 2009 06:19
The pay and bonuses of hundreds of high-flying City traders and dealmakers will have to be publicly disclosed under a Treasury-backed plan to curb excessive and risky remuneration. Alistair Darling, chancellor, wants banks to be more transparent about what they pay their top earners to expose them t
Read moreRake says BT will emerge stronger from recession
15th Jul 2009 11:39
BT chairman Michael Rake said the telecom firm will deliver £1bn of cost reductions in the current year and will emerge from the recession stronger. The group said Rake acknowledged the company's 2008/09 financial year had been difficult. "Whilst three of the company's four market facing divisions
Read moreWednesday newspaper round-up: UK banks, BT,
15th Jul 2009 06:10
Alistair Darling has summoned Bank chiefs to another meeting in Downing Street to quiz them on why they are still failing to pass on interest rate cuts to their lending charges. The Chancellor admitted that despite the Government's large stakes in leading UK banks, the lenders were still yet to get
Read moreUpdate: Ofcom may force BSkyB to share channels
26th Jun 2009 12:22
Satellite broadcaster BSkyB should be forced to share its premium channels, according to media regulator Ofcom. Ofcom has threatened to intervene directly in the next auction of Premier League football rights and force Sky to also make its films available to other broadcasters. BSkyB disagreed wit
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