January 27, 2015 Reports
The posited deal merging H3G and O2 would create a new largest UK mobile operator with 40% market share, with massive synergy benefits available from cutting overlapping network and operations costs. Regulatory hurdles would be very significant, and the remedies required may well counteract the benefits of reduced network operator competition, as they will be designed to do. For Vodafone and EE, the impact will be mixed; a potentially aggressive competitor is removed, but their preferred positioning as being the best mobile networks is under threat.
The posited deal merging H3G and O2 would create a new largest UK mobile operator with 40% market share, with massive synergy benef [...]
January 26, 2015 Reports
In marked contrast to its Q3 2014 results release, Netflix reported a strong Q4 with respect to paid subscriptions that was ahead of company guidance and consensus expectations. The positive news about subscriber numbers, which saw a sharp jump in share price immediately after the results, was heavily reinforced by Netflix’s announcement of its aim to expand its global base from 50 to 200 countries over the next two years and generate a material profit from 2017.
In marked contrast to its Q3 2014 results release, Netflix reported a strong Q4 with respect to paid subscriptions that was ahead o [...]
January 16, 2015 Reports
Ofcom has decided to implement a fibre margin squeeze test on BT, starting in March, which will include the costs of BT Sport as part of the calculation. Ofcom has stated that on its preliminary figures, BT does currently pass the test, but given earlier statements we conclude that it does not have a lot of headroom. This will make it challenging for BT to absorb the extra costs for its Champions League rights hitting from July without breaching the test, and even harder to absorb an increased cost for Premier League rights, reducing its incentive to bid aggressively in the upcoming auction.
Ofcom has decided to implement a fibre margin squeeze test on BT, starting in March, which will include the costs of BT Sport as pa [...]
December 17, 2014 Reports
Underpinned by a legislative regime since the 1970s designed to prevent sex discrimination and unequal pay between men and women, the UK has enjoyed successive and ever bigger waves of young women gaining the education and skills to enter the work force as professionals, now standing at 5 million strong. The UK also boasts 1 million female-led companies and the digital age has greatly expanded the opportunity for entrepreneurship for women to be their own bosses. The workplace inflicts a stiff ‘motherhood penalty’ that produces a yawning gender pay gap for women in their 40s and 50s as men more readily gain access to managerial and executive positions, radiating from there to board positions, where Lord Davies’ initiative for FTSE companies has led some to endorse the merit of a diversity of directors on boards. On the whole, however, employers often overlook the potential to optimise talent management practices to accommodate maternity and support the work-life balance of employees, prevent sexism and unequal pay, and offer women an equality of opportunity to accede to top jobs. Companies that do so could be more likely to establish a lasting competitive advantage and the UK economy will gain too from releasing the talent and energy of women at work.
Underpinned by a legislative regime since the 1970s designed to prevent sex discrimination and unequa [...]