ITV chief: now is last chance to build British challenger to Netflix (3 hours old)

With subscription service in place, we’ll keep Love Island in-house, says Carolyn McCallThe chief executive of ITV has said now is the last chance for UK broadcasters to build a British Netflix, as the US streaming giant continues to grow at breakneck speed.The warning from Carolyn McCall, chief executive of the UK’s largest free-to-air commercial broadcaster, follows protracted talks between the BBC, Channel 4 and ITV to create a credible domestic streaming rival to Netflix that have failed to bear fruit. Continue reading...

Italian bank fears expected to grow after debt downgrade (2 hours old)

Pressure on reserves could trigger crisis as government official issues warningFears that Italy’s banks face a black hole in their finances are expected to grow this week following a debt downgrade that could send the value of bank reserves plummeting.Despite efforts to shore up Italian banks’ reserves, a downgrade by the ratings agency Moody’s on Friday following a row between Rome and Brussels over the government’s budget could send them into freefall again. Continue reading...

Saudi Arabia has the most to lose from a sharp rise in oil prices | Larry Elliott (8 hours old)

With Riyadh dependent on arms supplies from the west, its threat to weaponise oil no longer works The Opec oil cartel chose its moment well. Inflationary pressures had been building in the global economy for years and stocks of crude were low. With Israel on top in the Yom Kippur war, Arab oil producers decided to step in. They announced production cuts and an oil embargo on the US and other western countries.The decision had far-reaching consequences. Oil prices more than quadrupled in a matter of months. Inflation rocketed, triggering demands for higher pay. Rising business costs led to job [...]

Shopping malls' desperate decline comes to prime minister’s doorstep (1 day old)

Nicholsons in Theresa May’s constituency is just one of hundreds suffering from the UK’s high street malaiseWith its deserted tables and recycled office furniture, the Ping Pong Parlour in Maidenhead’s struggling Nicholsons shopping centre is not fooling anyone.The desperate attempt to fill what used to be Argos is evidence of the losing battle fought by private equity investors who have surrendered the keys after the mall’s declining fortunes left them unable to meet huge loan repayments. Continue reading...

Brexit could kill off entire industries, says Jaguar Land Rover chief (20 hours old)

Ralf Speth calls for political action as CBI survey finds four out of five businesses have cut investment ahead of EU exitKey industries will be destroyed by a hard Brexit, one of the country’s most powerful chief executives has predicted, amid warnings that Britain’s imminent EU exit has dented investment by four in five businesses.Ralf Speth, the boss of Jaguar Land Rover, said that such an outcome would lead to the closure of plants and major job losses as he warned that some exposed industries would have “no way to survive a hard Brexit”. Continue reading...

Post Office boss receives 7% pay rise as postmaster salaries cut (2 days old [19/10/18])

Paula Vennells took home £718,300 last year while 11,500 workers lost a combined £17mThe Post Office boss Paula Vennells received a 7% pay rise last year, while thousands of postmasters took an average 4.5% pay cut.The former L’Oréal and Argos executive took home £718,300 in the year to March, according to accounts filed at Companies House this week, while 11,500 Post Office workers – the vast majority of whom are self-employed – received a combined £17m pay cut to £371m. Continue reading...

Ryanair accused of inaction over racist incident on plane (5 hours old)

Airline apparently did not remove passenger who abused woman on flightRyanair has referred a racist incident on one of its flights to Essex police, after facing criticism that it did little to prevent a male passenger inflicting a tirade of racist abuse on a 77-year-old woman.The airline apparently did not remove the passenger from the flight from Barcelona, instead moving the woman from her seat. Continue reading...

Scottish Power to invest in solar energy for the first time (2 days old [19/10/18])

Big six firm to focus exclusively on renewables, adding solar power to its windfarmsScottish Power, one of Britain’s biggest energy companies, has said it will invest in solar power for the first time as part of its move away from fossil fuels.The big six firm sold off its last gas-fired power stations to Drax Group this week to focus exclusively on renewables, which today consists of onshore and offshore windfarms. Continue reading...

Facebook hires Nick Clegg as head of global affairs (2 days old [19/10/18])

Former UK deputy PM says he ‘will no longer seek to play a public role’ in Brexit debateFacebook has hired Sir Nick Clegg, the former UK deputy prime minister, as its head of global policy and communications.Clegg, 51, will join Facebook as it struggles to cope with mounting political pressure over issues including fake news, data protection and the threat of government regulation. Continue reading...

WPP no longer world's most valuable ad firm as share price falls (2 days old [19/10/18])

London-listed company’s market value has dropped behind US rival OmnicomWPP is no longer the world’s biggest marketing and advertising services group by market capitalisation after the UK company’s stock market value slipped below that of US rival Omnicom for the first time in almost a decade.The London-listed company’s share price has been slashed by a quarter over the past year and is languishing at levels not seen since 2012. The group, which has held the status of the world’s most valuable advertising group since 2011, has seen its stock market value plunge to about £13bn ($17bn) as it fac[...]

Ericsson: mast do better (3 days old [18/10/18])

Business has picked up, but not for long

US corruption probe casts pall over Ericsson rally (3 days old [18/10/18])

Swedish telecoms equipment group says it is likely to face ‘material’ fine

Samsung buys Spanish networks analysis firm in 5G push (4 days old [17/10/18])

Purchase of Zhilabs is part of a 3-year $22bn investment drive into new technologies

Shareholders rebuke Telstra executives on pay (5 days old [16/10/18])

Chairman of Australian telco concedes salaries are too high and vows to review policy

SoftBank lines up bankers for IPO of mobile unit (9 days old [12/10/18])

Goldman Sachs, Nomura and Deutsche Bank set to work on what could be largest ever listing

Tech and telecoms groups turn to deals in search of growth (9 days old [12/10/18])

UK’s smaller players have proved adept at scooping up rivals

Equipment vendors battle for early lead in 5G (12 days old [09/10/18])

Industry heavyweights vie for deals to supply kit for next-generation mobile networks

Danish telecoms group TDC names Allison Kirkby as chief executive (12 days old [09/10/18])

Vodafone warns of danger of ‘artificial’ 5G auctions (17 days old [03/10/18])

European countries urged not to follow short-term thinking of Italian spectrum sale

Cash-strapped Italy raises €6.5bn in 5G auction (19 days old [02/10/18])

Tiger Global raises £3.75bn for tech investments (3 hours old)

Investment group’s venture capital fund beats target as investors hunt for returns

Superstar companies are ripe for disruption (8 hours old)

Turnover at the top means market competition may work better than we thought

Clegg seeks to be ‘bridge’ between Big Tech and government (2 days old [19/10/18])

Former UK deputy prime minister says he never wanted to be a lobbyist

UK’s political class finds new home in Silicon Valley (2 days old [19/10/18])

US-based companies find willing recruits in figures such as Nick Clegg

PayPal: cash out  (2 days old [19/10/18])

Digital payments company’s stock needs a youthful kick

Facebook hires Clegg as head of global affairs (2 days old [19/10/18])

Former UK deputy prime minister to move to Silicon Valley next year

Microsoft garners EU approval for $7.5bn GitHub purchase (2 days old [19/10/18])

Jony Ive on the Apple Watch and Big Tech’s responsibilities (2 days old [19/10/18])

Apple’s chief design officer on Steve Jobs, the $5bn new campus — and why the unforeseen consequences of tech keep him awake

Amgen invests £50m in Oxford Nanopore (2 days old [18/10/18])

California-based group acquires 3 per cent stake in UK sequencing company

WeWork targets big business in Japan (2 days old [18/10/18])

Push comes as large groups try to adapt to digital era with flexible work spaces