BT Boosted by Broadband Investment (WSJ)
U.K. telecommunications operator BT Group plc (ADR) (NYSE:BT) Friday marked an end to 4½ years of declining revenue, as billions of pounds spent on new cables for superfast fiber broadband started to pay off. The U.K. is undergoing a sea-change in the telecom and media industry as the lines become blurred between telecom, Internet and television. BT Group plc (ADR) (NYSE:BT), the former telecom monopoly, has suffered from dwindling demand for its fixed line phone services and lost out to rivals like British Sky Broadcasting Group plc (LON:BSY) and Virgin Media Inc. (NASDAQ:VMED) +0.14% who have grabbed customers by offering bundled phone, broadband and television packages.
BT boss: ‘We want to bring sports back to fans’ (Telegraph)
Ian Livingston is on ebullient form in his office at the top of BT Group plc (ADR) (NYSE:BT) headquarters by St Paul’s Cathedral. The 48-year-old Scot has just presented his company’s strongest annual results for several years and sent it headlong into battle with British Sky Broadcasting Group plc (LON:BSY) with the commercial launch of BT Sport, its £1bn per year television venture. …BT Group plc (ADR) (NYSE:BT)’s strategy is clear for the first time. It has taken the lessons of British Sky Broadcasting Group plc (LON:BSY)’s success using football to attract pay TV customers and hopes to lure broadband and telephone customers back from rivals who have hurt the company’s consumer business in recent years. For the first time since the foundation of the Premier League, live coverage will be available for “free”.
Ocado squeezed high on hopes of Morrisons deal (Yahoo)
Shares in British online grocer Ocado continue their roller coaster ride this week, squeezed 13 percent higher by hopes the firm will soon tie-up a partnership deal with Wm. Morrison Supermarkets plc (LON:MRW), Britain’s No. 4 grocer. Ocado on Friday reiterated Wm. Morrison Supermarkets plc (LON:MRW)’ comment on Thursday that talks were continuing, with a further announcement to be made “in due course”. Sentiment in Ocado is also boosted by Goldman Sachs Group, Inc. (NYSE:GS), upgrading the stock to a buy rating from a previous neutral stance and by longstanding bear Panmure Gordon upping its price target to 130 pence from 50 pence, though it maintained its sell stance.
Morrisons’ quarterly sales fall again (Reuters)
Britain’s No. 4 grocer, Wm. Morrison Supermarkets plc (LON:MRW), said quarterly underlying sales fell again, as its limited exposure to convenience stores and lack of an online food offer continued to hurt. Morrisons, which trails market leader Tesco Corporation (USA) (NASDAQ:TESO), Wal-Mart Stores, Inc. (NYSE:WMT)‘s Asda and J Sainsbury plc (LON:SBRY) in UK market share, said on Thursday sales at stores open over a year fell 1.8 percent, excluding fuel, in the 13 weeks to May 5. That compared with analysts’ average forecast of down 2 percent, according to a Wm. Morrison Supermarkets plc (LON:MRW) poll, but was an improvement on a fourth quarter decline of 4.1 percent.
