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The British telecommunications company BT Group said that its revenue will decrease, because in the next 3 years it must pay 2.1 billion pounds to finance the pension deficit, which is 11.3 billion pounds, Bloomberg reports. BT predicts in the next fiscal year the reduction in base revenue by 2%, in adjusted earnings - by 1.3%. However, it intends to keep the dividends at the same level. After such forecasts, BT shares fell by 9.6%. On Thursday at 12:37 Moscow time, BT shares fell by 7.9% to 219.75 pence. The company also said it will cut 13,000 jobs in the back office and at the middle management level, but will increase the number of jobs by 6,000 in the network deployment and customer service segment.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
Samsung Electronics’ shares joined TSMC, its competitor, as both extended gains on Tuesday. This was mainly from upbeat expectations that Intel Corp’s plan of outsourcing more chip producers would favor the chipmakers. Shares of ...
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