John Nelson named new Lloyd’s chairman April 18, 2011 Lloyd’s of London has named John Nelson, a long-time City financier and chairman of real estate developer Hammerson, as its incoming chairman to replace Lord Levene. Nelson, a chartered accountant and corporate financier with Kleinwort Benson and Lazard, was chairman of Credit Suisse First Boston Europe from 1999 to 2002. He has since moved to [...]
Fujitsu to roll out fibre internet to rural Britain April 13, 2011 Fujitsu has announced plans to deliver next generation internet services to 5m homes in rural Britain. It says it will provide the infrastructure and work with broadband providers including Virgin Media and TalkTalk, which will wholesale its fibre. Fujitsu says the network is a “ground breaking and innovative alternative to BT Openreach.” The open access [...]
BEST OF THE BROKERS March 29, 2011 BT GROUP JP Morgan Cazenove (JPM) rates the telecoms group “overweight” and has cut its 12-month target price by 6p to 214p to reflect changes to the firm’s pensions deficit. The broker thinks many of BT’s short-term cost efficiencies might be reinvested to achieve growth targets, meaning slowing momentum before the firm returns to sustainable [...]
Virgin Media hits forecasts April 20, 2011 Cable operator Virgin Media said it added 20,200 net new cable customers in the first quarter, drawn by fast broadband speeds and pay-TV, helping it to post solid results in line with forecasts. Virgin Media, which competes with pay-TV company BSkyB and telecoms and broadband providers such as BT, said its customers were also paying [...]
Just-in-time is on the rocks but not sunk yet June 13, 2011 DURING Japan’s rise, its companies developed the just-in-time method of manufacturing, allowing greater efficiency of production. Following the devastating Tohoku earthquake earlier this year, manufacturers across the world – including Toyota, which pioneered the just-in-time production system – suffered, and continue to suffer, from disruption to their global supply chains. Many companies have bounced back [...]
BT’s Tech Mahindra stake eyed October 5, 2010 Private equity firms including Apax Partners and Providence Equity have shown interest in buying BT Group’s stake in Tech Mahindra that is likely to be valued at $830m (£522m). BT has restarted discussions to sell its holding in Tech Mahindra following the restatement of financial numbers by the Indian IT services firm’s unit Mahindra Satyam. [...]
BT must give access to its fibre network October 7, 2010 OFCOM yesterday said it will force BT to allow its rivals access to the former state phone firm’s superfast fibre broadband network. BT will also have to wholesale its infrastructure of telegraph poles and underground ducts in a bid to increase competition for superfast internet to rural areas. The decision supports government plans laid out [...]
City veteran tries insurance April 18, 2011 INVESTMENT banker turned industry leader John Nelson is to fill the large shoes left by Lloyd’s chairman Lord Peter Levene from October. A City grandee whose finance career started at Kleinwort Benson and continued at Lazard, where he ran its corporate finance division for 13 years, Nelson is now best known for his leadership of [...]
City veteran tries insurance April 18, 2011 INVESTMENT banker turned industry leader John Nelson is to fill the large shoes left by Lloyd’s chairman Lord Peter Levene from October. A City grandee whose finance career started at Kleinwort Benson and continued at Lazard, where he ran its corporate finance division for 13 years, Nelson is now best known for his leadership of [...]
FTSE edges down as IMF scandal cast shadow over markets May 16, 2011 The FTSE 100 fell in early trading as the arrest of IMF chief Dominique Strauss-Kahn threatened to derail crisis talks on eurozone debt. Strauss-Kahn, who denies a sexual assault charge in the US, was a pivotal player in tackling the eurozone debt mountain. A bailout package for Portugal is set to be given the green [...]