Colour me confused but I thought the prospect of BT Group PLC (LON:BT.A) losing its Openreach arm was supposed to be kryptonite to the shares.
Ofcom hopes that the UK's broadband services will improve now BT and Openreach are legally separated. https://t.co/ICtGXQQWZ8
— Moments UK & Ireland (@UKMoments) March 10, 2017
The former nationalised industry announced today it will legally separate from its network division Openreach, which controls the UK's broadband infrastructure, after reaching an agreement with regulator Ofcom.
The shares climbed 4.3% on the news, because although BT is ceding control of Openreach, it is not relinquishing ownership.
“Investors interested in BT are likely to rejoice on the news today as it finally removes the element of concern surrounding the issue. Moreover, the company have retained ownership of Openreach but not the control so the fact that assets remain with BT will also come as a relief to investors,” explained Ian Forrest, an investment research analyst at retail-focused share dealing service The Share Centre.
Openreach's 'legal separation'? Still a BT Group company + under BT control, working to BT budgets. Jelly and ice cream for BT!
— Liam McMonagle (@lmcmonagle) March 10, 2017
Elon Musk, the boss of electric car maker Tesla, has offered to fix South Australia's energy crisis, which I think you will agree is very big of him.
Furthermore, he has pledged to do it in 100 days or less.
It may be a publicity stunt, but what has Oz got to lose?
Elon Musk says if he can’t build Australia a new battery farm in less than 100 days, he’ll give it to them for free https://t.co/C5i5QGAszr pic.twitter.com/2pLLOu7SEx
— Fast Company (@FastCompany) March 10, 2017
Donald Tusk has won a second term as European council president, and apparently Poland is furious.
Let's hope this is not a case of name confusion.
So many Donalds, but only one of them is a duck.
Is anyone surprised Tim Martin, founder and chairman of pubs group JD Wetherspoon PLC (LON:JDW) did not much like the Budget?
He called it a "dinner party" Budget; I am not sure what he means by that, but as no one ever has a dinner party (in the black tie sense) at a Spoons, I am pretty sure this is not a ringing endorsement from the mullet-haired ranter.
"In effect, this was a Budget for dinner parties, no doubt the preference of the Chancellor and his predecessor - dinner parties will suffer far less from the taxes outlined above, whereas many people prefer to go to pubs, given the choice," Martin said.
Not for the first time he claimed the biggest danger to the pub industry is that it is taxed differently to supermarkets, who according to Tim paid "less than 2p per pint for business rates, whereas pubs paid around 18p per pint".
Just because he drones on and on and on about the same old subject like some colossal pub bore does not mean he is wrong.
No one who visits Britain goes home raving about the “supermarket culture” - apart, maybe, from a few Bulgarians – but many appreciate the special place the pub has in British culture.
Talking of which, it's Friday, it's nearly noon, and the pubs are open ...