Huawei says ‘pernicious’ new US sanctions puts its survival at stake May 18, 2020 Huawei has slammed “pernicious” new sanctions rolled out by the US last week, warning they could put the Chinese tech giant’s survival at stake. “We expect that our business will inevitably be affected. We will try all we can to seek a solution,” Huawei’s rotating chairman Guo Ping said in a speech this morning. “Survival [...]
Sky to claw back £330m from sports cancellations ahead of Premier League restart June 16, 2020 Sky is set to receive rebates of up to £330m from organisers of leading sporting events, as the broadcaster seeks to shore up its balance sheet after months of cancelled events. The Premier League has agreed to return £170m to Sky, the Financial Times reported, after the UK broadcaster allowed customers to halt sports subscriptions [...]
City Moves for 4 February – Who’s switching jobs at Saatchi & Saatchi, Barkby and Superunion? February 4, 2020 Today’s City Moves includes Saatchi & Saatchi, Barkby and Superunion Saatchi & Saatchi Saatchi & Saatchi London has announced the appointment of Andrew Kay as managing partner on its prominent BT account. Andrew takes on the new role after three years as managing director at BETC. He began his career with account management roles at [...]
TalkTalk: Will a go-private deal ring the changes for the troubled telecoms firm? October 8, 2020 TalkTalk announced earlier today it had received a takeover bid from investment management firm Toscafund. The offer paves the way for a go-private deal for the London-based telecoms group. Investors reacted positively to the news, with shares in the company rising more than 19 per cent. The bid came as little surprise to analysts, who [...]
Woodford protege Mark Barnett leaves Invesco after 24 years May 15, 2020 Woodford protege Mark Barnett is leaving Invesco after 24 years, after a disappointing few months. Invesco confirmed the departure after Sky News reported Barnett would be leaving the firm after a difficult few months for the fund manager. It comes just weeks after he was sacked by Perpetual Income and Growth Trust after more than [...]
Ericsson shares soar as 5G sales boost profit July 17, 2020 A rise in 5G network sales and software revenue helped Ericsson report higher-than-expected quarterly core earnings today, as it stuck to 2020 and 2022 financial targets. The Swedish company has experienced a recovery under Borje Ekholm – a former CEO of Investor AB- who took the position in 2017, having been chosen to steer the [...]
O2 amps up pressure for UK networks to snub Huawei June 10, 2020 O2 today announced a partnership with Ericsson to upgrade its 5G technology, adding pressure for other telecoms firms to seek alternatives to Huawei as force grows for the UK to cut ties with the Chinese vendor. The UK telecoms firm last October confirmed plans for Ericsson to develop part of its 5G infrastructure. O2 today [...]
Advertising giant Clear Channel sells Chinese business for $250m March 31, 2020 Clear Channel today said it has sold its business in China for $253m (£205m) as it pulled its guidance and announced a raft of cost-cutting plans to combat the coronavirus crisis. The outdoor advertising group said it will sell its 51 per cent stake in subsidiary Clear Media to Ever Harmonic — a consortium of [...]
FTSE 100 and US stocks rise despite more dire economic warnings May 7, 2020 US stocks have joined the FTSE 100 in positive territory as investors bet on a relatively speedy economic recovery from coronavirus despite yet more dire economic predictions. London’s blue-chip FTSE 100 index was up 1.4 per cent at 5,933 points in afternoon trading. This was despite the Bank of England warning of the worst slump [...]
Talk Talk back in the black as City Fibre circles broadband arm November 15, 2019 Talk Talk revealed a £4m half-year profit today amid reports that it is close to a deal to sell its Fibrenation sister company to Cityfibre, the UK’s largest alternative broadband network provider. Sky News reported that although sources warned that the deal had not yet been finalised, there was a chance the agreement could be [...]