BT Stems Broadband Losses as Network Investment Pays Off
Openreach, BT's fixed network, lost 169,000 customers in the first quarter of fiscal 2026, the London-based telecom operator said in a statement on Thursday. That's about half the 356,700 customers that analysts had expected, according to data compiled by Bloomberg.
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Bloomberg
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- Bloomberg
Trump AI Summit Targets Hardware as Key to US Supremacy
Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg's journalists around the world. Today, Ed Ludlow reports on the implications of the Trump administration's new AI Action Plan. Tesla and Samsung: Elon Musk's EV maker agreed a $16.5 billion chipmaking pact with Samsung, which will see the Korean company dedicate its production in an upcoming Texas fab to making the brains of future Tesla self-driving systems.
Yahoo
27 minutes ago
- Yahoo
Sterling bounces off two-year low on euro, soft on dollar
LONDON (Reuters) -The pound briefly hit a two-year low versus the euro on Monday, before rebounding, and dipped on the dollar, though its moves were largely a function of those elsewhere as investors digested the announcement of an EU-U.S. trade deal. The pound was last down 0.2% on the dollar at $1.34185, its lowest in a week, having struggled late last week because of soft British retail sales and business activity data. The pound was more volatile against the euro, which rose as high as 87.69 pence in early Asia trade, its highest since May 2023, as its gains last week were extended in a kneejerk bounce after the announcement of the trade deal. The common currency then reversed course, both broadly, and on the pound, as investors speculated that U.S. trade deals, in aggregate, would boost the dollar and so the euro's gains at its expense would cease. [FRX/] On the pound the euro was last down 0.5% at 86.99 pence. Investors are divided on sterling, partly due to disagreement on whether the Bank of England will step up the pace of its rate cuts later this year, something that would weigh on the currency. Inflation in Britain has proven sticky, meaning policymakers are loath to cut rates too quickly unless they are forced to, and recent data - soft but not terrible - has not yet definitively answered that question. "Another round of only modestly weaker data than expected were enough to push sterling to fresh lows versus the euro," said Barclays analysts in a note. "In our view, the pound's weakness is overdone and due a correction," they said, anticipating that the euro will fall to around 85 pence, which would be consistent with the gap between British and euro zone interest rates. Others expect that more BoE cuts, while the ECB now appears to be on hold, would hurt the pound against the euro. Nomura analysts see the euro rising to 89.75 pence. Little British economic data is due this week. The BoE meets next week, and markets are all but fully pricing in a 25 basis point rate cut, one of only two more they expect this year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27 minutes ago
- Yahoo
Buyout giant Warburg Pincus snaps up Health Partners stake
One of the world's biggest private equity firms has agreed to acquire a stake in Health Partners Group, a provider of occupational health services to millions of its clients' employees. Sky News understands that Warburg Pincus has struck a deal to partner with the company in a deal valuing it at more than £300m. Health Partners Group was founded in 2016 by chief executive Andrew Noble and chief medical officer Dr Alasdair Emslie. Money latest: It is principally focused on serving private sector clients, although it does not disclose their identities. In the year to July 31, 2024, it reported revenue of close to £77m and earnings before interest, tax, depreciation and amortisation of £13.6m, according to accounts filed at Companies House. The company says it is now the largest occupational health provider and among the largest non-hospital healthcare providers in Britain. Further details of the transaction with Warburg Pincus, including the size of the stake it had agreed to buy, were unclear on Monday. The deal is said by bankers to value Health Partners at between £300m and £400m. Warburg Pincus has backed similar businesses in other countries, including Quantum Health in the US and Arsipa in Europe. On Monday, Warburg Pincus declined to comment.
