|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||1.9900 - 2.0100|
|52 Week Range||1.5400 - 3.9600|
|Beta (5Y Monthly)||0.60|
|PE Ratio (TTM)||6.70|
|Forward Dividend & Yield||0.19 (9.62%)|
|Ex-Dividend Date||Dec 23, 2019|
|1y Target Est||N/A|
For an event meant to showcase the power of telecoms, cancelling this year's Mobile World Congress in Barcelona without a back-up plan has perplexed many in the trillion-dollar sector. Wednesday's decision to call off the telecoms industry's biggest annual gathering over fears of coronavirus, which has yet to reach mainland Spain, has left a hole in marketing budgets and dealt a $500 million blow to the local economy. Sony and Nokia said after pulling out of the event that they would hold product launches online instead, while South Korea's Samsung Electronics showcased a new folding phone at separate event in San Francisco last week.
The decision to cancel a major telecoms conference in Barcelona slated for later this month after mass withdrawals due to fears over a coronavirus outbreak was motivated only by a desire to protect people's health and safety, organisers said on Thursday. "This is not about money - it's about health and safety and the reputation of our show," Mats Granryd, director general of the GSMA telecoms association that hosts the event told a news conference the day after announcing its cancellation.
The future of this year’s edition of Mobile World Congress is seriously in doubt, as more companies cancel their participation out of concerns about the spread of the coronavirus.
Spanish health officials said on Wednesday there was no reason to cancel the Mobile World Congress in Barcelona over coronavirus fears, despite major companies pulling out of the event. National Health Minister Salvador Illa said the government's goal was protecting people's health, but that it would take additional measures if necessary. The assurance came after behind-the-scenes pressure on Spanish authorities to declare that holding the event in Barcelona would pose a public health risk, which could potentially in turn trigger a payout on any event insurance taken out by the organisers.
The organisers of the Mobile World Congress (MWC) said on Wednesday they were monitoring "the fast-changing" development of the coronavirus, in a statement issued after sources said the event in Barcelona was likely to be called off. "We have already implemented additional health measures ahead of MWC 2020 and will continue to seek expert medical advice on a frequent basis," it added.
Telecoms industry lobby GSMA will hold a virtual board meeting on Wednesday to discuss a major conference later this month which is looking increasingly threatened by fears of coronavirus, a person with knowledge of the matter said. Board members of the GSMA will discuss the Barcelona conference by phone at 1300 GMT, according to the person, who declined to be named.
Deutsche Telekom is pulling out of this month's Mobile World Congress, a source familiar with the matter said on Wednesday, adding an official announcement by other European telecoms operators was possible later in the day. Such a step, if confirmed, would deal a fatal blow to the Feb. 24-27 that traditionally draws 100,000 visitors to Barcelona, as European operators are foundational members of the GSMA industry association that hosts the event. The GSMA board, comprising industry executives, will convene on Friday to review its options, sources said.
Britain will look to international allies to develop alternatives to Huawei to use in developing its 5G network, digital minister Nicky Morgan said on Wednesday. Britain granted Huawei a limited role in Britain's 5G mobile network last week, frustrating a global attempt by the United States to exclude the Chinese telecoms giant from the West's next-generation communications. "We are very determined... that another provider of 5G equipment is needed in order to provide that resilience to our very important 5G network," Morgan told reporters after a speech in London.
The following are the top stories on the business pages of British newspapers. - In a speech on Monday British PM Boris Johnson will say that he is ready to accept the "off-the-shelf" model first proposed by the Europen Union's Chief negotiator, Michel Barnier. - The British government's plans to introduce a cap on Huawei will cost BT about 500 million pounds($657.20 million) over the next five years, the telecoms group has revealed.
The company warned that the British government’s cap on the use of Huawei equipment in the telecom group’s 5G network will cost an estimated $655 million over the next five years.
The following are the top stories on the business pages of British newspapers. D&D London, the group behind upmarket London restaurants such as Quaglino's and Le Pont de la Tour, has secured its first site in Birmingham as it looks to expand into the regions. Flybe Group arranged for a third-party trust to take a charge over assets such as its buildings and aircraft equipment on behalf of its three shareholders.
It may seem as if the U.K. has been mired in political turmoil forever, but the deadlock over Brexit and the country’s future may just be broken this week when the public goes to polls.
BT's fixed-line network arm Openreach has started an evaluation process seeking a third strategic vendor alongside telecoms gear makers Nokia Oyj and Huawei Technologies Co Ltd [HWT.UL] for the rollout, Richard Knowles, an Openreach spokesman, told Reuters. The development comes as the United States has been pressing nations not to grant Huawei access to 5G networks and alleged that Huawei's equipment could be used by Beijing for spying, which the Chinese company has repeatedly denied.
BT's fixed-line network arm Openreach has started an evaluation process seeking a third strategic vendor alongside telecoms gear makers Nokia Oyj and Huawei Technologies Co Ltd for the rollout, Richard Knowles, an Openreach spokesman, told Reuters. The development comes as the United States has been pressing nations not to grant Huawei access to 5G networks and alleged that Huawei's equipment could be used by Beijing for spying, which the Chinese company has repeatedly denied.
Two of Britain’s biggest power companies have transferred the ownership of their U.K businesses overseas to safeguard against re-nationalization plans laid out by leader of the opposition Labour party Jeremy Corbyn. National Grid and SSE (UK:SSE) which are listed in the FTSE-100 and together own the UK’s gas and electricity transmission networks. The moves follow the launch of Labour’s election manifesto last week which outlined a programme to returns a series of industries to public ownership, including electricity, water and rail.
Britain's BT has told a company promoting digital skills it would continue working with it if it dropped Prince Andrew as a patron. The British royal has been engulfed in a growing scandal since he gave a TV interview on Saturday to discuss his friendship with Jeffrey Epstein, who killed himself in a U.S. prison in August while awaiting trial on sex trafficking charges. Andrew denied an allegation that he had sex with a 17-year-old girl procured for him by Epstein but said he did not regret the friendship.
British utilities are becoming increasingly popular with bond investors who believe their debt may benefit if a Labour government comes to power in December's general election and takes them into public ownership. Labour's finance spokesman John McDonnell last week detailed the party's plans to nationalise parts of BT to provide free broadband for all if it wins the election. Most opinion polls show the ruling Conservative Party with a clear lead ahead of the Dec. 12 poll, suggesting a left-wing government under Jeremy Corbyn is unlikely.
British Prime Minister Boris Johnson said on Monday he was putting on hold further cuts in corporation tax and told voters he would use the money for spending on health and other priorities. "We are postponing further cuts in corporation tax," Johnson told business leaders at a conference organised by the Confederation of British Industry, an employers' group. Britain's main corporation tax is among the lowest among the world's industrialised economies but the government had been due to cut it to 17% next year from 19% now.
There is a threat to British business from both the left and the right of politics, the country's biggest business lobby group the CBI warned on Monday, a month before voters head to the polls to elect a new government.
Jeremy Corbyn, leader of the U.K.'s Labour Party, plans to nationalize British Telecom's Openreach broadband network and provide free internet if the party wins power. The proposal is impacting shares ...