City reacts with shock to Labour’s plans to part-nationalise BT November 14, 2019 The City reacted with shock tonight to Labour’s plans to part-nationalise FTSE 100 giant BT and promise free full-fibre broadband for every UK household. Labour unveiled the new £20bn policy late last night and said it would pay for its plan by levying a tax on tech giants such as Amazon, Google and Facebook. Chief [...]
Audit watchdog is ‘in poor state’, says FRC candidate for chair: ‘This is really not the way to run a regulator’ January 25, 2022 Sir Jan du Plessis, the government’s preferred candidate to head the Financial Reporting Council (FRC), has said the independent regulator is now in a “pretty poor state” due to the failures of its top level managers. Du Plessis, who has previously chaired some of Britain’s major companies including BT and Lloyds TSB, vowed to “address [...]
Serious Fraud Office probing O2 bribery allegations September 5, 2021 Telecoms giant O2 is being investigated Serious Fraud Office reportedly over allegations of bribery involving the company’s executives. The company revealed in a financial statement that it is cooperating with the SFO, following its merger with Virgin Media. O2’s recent £31bn merger with Virgin Media makes the new company the UK’s largest network, ahead of [...]
Exclusive: London’s first ever data charter launched September 20, 2021 One of London’s leading business associations has today launched the capital’s first ever Data Charter to help businesses tackle some of the biggest challenges facing the city. Drawn up by law firm Pinsent Masons for London First, the charter provides a framework for private and public companies across the city to collaborate and share data. [...]
City Moves: Who’s switching jobs in the Square Mile this week? January 11, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Moorhouse Management consultancy Moorhouse has appointed a new managing partner, who will focus on supporting the growth of its portfolio, which includes the Health, Financial Services, Energy and Life Science industries. Richard Brackstone, who had previously spent [...]
Full fibre broadband is the next gold rush to get Britain connected October 14, 2021 There is a gold rush taking place in the UK right now. Private equity barons and telecoms cowboys are pouring money into BT Openreach challengers. Last month Abu Dhabi’s Mubadala Investment Company and the IKEA holding company Intergogo injected over £1bn in CityFibre. It was the largest single round of funding into a UK full [...]
Inmarsat and BT cut ties with Prince Andrew over Epstein friendship November 20, 2019 Inmarsat and BT have become the latest organisations to cut ties with the Duke of York in light of questions about his relationship with convicted sex offender Jeffrey Epstein. A source close to Inmarsat confirmed to City A.M. that the satellite company had withdrawn its sponsorship. In a statement, BT said that they would no [...]
Screenshot: Who’s invited to the UK’s summer of fun? March 19, 2021 This week **Media Moment of the Week: No 10’s power vacuum **Who’s invited to the UK’s summer of fun? **BT gets a broadband boost Media Moment of the Week: No 10’s power vacuum There are two main things to remember when unveiling your grand £2.6m briefing room to the world: make sure it doesn’t look [...]
T20 World Cup: The fab four look for a place in the final November 10, 2021 The knockout stages of any tournament provides unparalleled sporting pressure. A simple task, win or go home. There are no second chances, no redos. Sport at its most intense. A stray ball, bad decision or a hot headed moment can make or break a team performance. This week, in the United Arab Emirates, four of [...]
Business leaders including Thames Water and Nestle call for end of gas usage by 2035 September 24, 2021 Business giants, including Thames Water, Nestle, BT and the Co-op, have reportedly called for an end of gas usage by 2035, as a supply and pricing crisis grips the UK. It would allow the UK to champion a “historic first”, following on from its legislation to end relentless coal-fired power. In a letter addressing MPs, [...]