BT shares downgraded amid concerns about business-facing unit, alt-nets and capex
The pressures on BT's business-facing units had perhaps previously been underestimated, analysts said
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Telecommunications
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Snap ditches Web3 plans amid mass layoffs
Metaverse-related plans first on the chopping block for struggling social media company
Netflix poaches Snapchat execs to head ad business as it plans ad-supported streaming
Jeremi Gorman and Naylor have been appointed to oversee global advertising at Netflix
BT employees begin two-day strike, govt targets foreign labour
BT said the pay rise is its largest in 20 years and represents an average increase of around 5%
SpaceX and T-Mobile team up for mobile coverage
Most T-Mobile phones will be compatible with the new service
BT: waving through of Drahi's stake-building throws more fuel on fire
The government said it will continue to assess acquisitions “on a case by case basis”
UK government takes no action on Altice stake in BT Group
Business Secretary Kwarteng used his call-in power in May to look at the Altice move
Vodafone agrees to sell Hungarian business for €1.8bn
“The combined entity will increase competition and have greater access to investment to further the digitalisation of Hungary," said Vodafone CEO Nick Read
Fibre-optic supplier Unigel plans to float on Aquis
A total of 11,285,000 ordinary shares are to be issued at a nominal value price of 0.5p per share, with an expected admission date of August 26, 2022
Apax trust says 'weak public markets' affected valuations
The FTSE 250 trust said "weak public equity markets" affected the valuation of its funds' listed holdings
Helios Towers interims boosted by acquisitions and strong tenancy growth
"We have delivered strong organic tenancy growth in the first half of the year, which combined with the successful integration of acquired assets in Senegal, Madagascar and Malawi has resulted in impressive year-on-year financial performanc
BT to join summer of discontent with late-August strike
The FTSE 100 company said it will look to reduce the impact of industrial action by postponing any non-essential planned
SinglePoint acquires Frontline Power Solutions, a multi-state, licensed energy services company
Frontline Power Solutions provides energy supply agreements to commercial, industrial, and institutional properties
SinglePoint expects immediate revenue opportunities for its majority-owned subsidiary Boston Solar with passage of the Inflation Reduction Act
"SinglePoint is capable of exponentially increasing revenue due to this legislation passing,” the company’s CEO Wil Ralston said
Snap considers headcount cull weeks after net loss doubles
The social media platform plans to reduce its headcount after its net loss widened in the second quarter
BT audit failings land PWC £1.75mln fine
BT eventually took a £513mln charge for the fraud in its Italian arm
Spirent pre-tax profit and revenue soars
Pre-tax profit was US$40.3mln, 16% higher than the first half of last year.
Virgin Media O2 secures £4.5bn for fibre network expansion
The company has agreed to build a full-fibre network that will provide connectivity to up to 7mln homes
UK taxpayer liable to pick up the tab on up to £2bn of defaulted Covid-19 loans
The British Business Bank has so far settled £420mln of claims made by lenders under the loan guarantee scheme