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☆ BT to reduce workforce by up to 55,000 jobs by 2030
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 18 (Reuters) - BT Group (BT.L), Britain's biggest broadband and mobile provider, said on Thursday it would reduce its workforce by up to 55,000 jobs by the end of the decade to become a much leaner business. The announcement came after it met market expectations with a 5% rise in full-year adjusted core earnings of 7.9 billion pounds ($10 billion) after growth in networks and consumer offset a decline in enterprise. "New BT Group will be a leaner business with a brighter future," he said. He said BT had grown both pro forma revenue and core earnings for the first time in six years in the year to end-March, while navigating an "extraordinary macro-economic backdrop". The group said it expected to grow both revenue and core earnings on a pro forma basis this year.

☆ Israel's Bezeq Telecom sees benefits from AI as posts flat Q1 profit
▼ + stars: | 2023-05-17 | by ( Steven Scheer | ) www.reuters.com time to read: +2 min

JERUSALEM, May 17 (Reuters) - Bezeq Israel Telecom (BEZQ.TA) reported flat quarterly profit on Wednesday, and said it expects to reap benefits from an exponential expansion of data created by artificial intelligence (AI) platforms through more lucrative fibre optics growth. Bezeq is working with Nokia to provide broadband speeds of up to 25 gigabits per second (Gbps) and said it plans to offer 10 Gbps in 2024, reaching 25 Gbps by 2027. It currently offers a maximum of 2.5 Gbps. Fischbein also said that he remained comfortable with Bezeq's forecast of 1.2 billion shekels of net profit in 2023. Shares of Bezeq were up 0.3% to 5 shekels in afternoon Tel Aviv trading, but are nearly 18% lower so far in 2023.

☆ Japan's Hamamatsu Photonics says Denmark denies approval for NKT Photonics acquisition
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

TOKYO, May 8 (Reuters) - Japan's Hamamatsu Photonics KK (6965.T) said on Monday that Danish authorities had rejected a European subsidiary's application to acquire Copenhagen-based fibre laser manufacturer NKT Photonics A/S from NKT A/S (NKT.CO). Hamamatsu Photonics had announced plans for the takeover last June for about 205 million euros ($226 million) to expand application of its laser diode business based on compound semiconductor manufacturing technology. NKT Photonics' lasers could be used for inspection of cutting-edge semiconductor devices, among other applications, it had said. "We are currently considering further actions in relation to the decision," Hamamatsu Photonics said in a statement on Monday. The Danish Business Authority said the denial was in accordance with the Danish Investment Screening Act.

☆ Invictus Energy confirms oil, gas and helium find in Zimbabwe
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

Companies Invictus Energy Ltd FollowHARARE, May 8 (Reuters) - Australia-listed Invictus Energy (IVZ.AX) on Monday confirmed the presence of light oil, gas condensate and helium at its Cabora Bassa project in Zimbabwe, sending its shares up 8.7%. “Analysis shows the presence of light oil and rich natural gas condensate, with condensate gas ratios estimated at between 30 and 135 barrels per million cubic feet," it said. The analysis also confirmed the presence of helium gas in commercial concentrations comparable with global helium producing fields, the company added. Helium is a key component in the manufacture of semiconductors, liquid crystal display (LCD) panels and fibre optic wire. “Success at Mukuyu-2 and confirmation of a significant discovery will further unlock the value of our material portfolio," said Invictus Energy Managing Director Scott MacMillan.

☆ Microsoft M12 boss departs tech giant's VC arm to help turn London-based investor Systemiq Capital into the Sequoia of climate tech
▼ + stars: | 2023-05-05 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

A founding partner at Microsoft's VC arm M12 has left to take up a GP role at a climate tech investor. Goldstein has joined Systemiq Capital and plans to turn it into the Sequoia of climate tech. One of the founding partners of Microsoft's venture arm M12 has left the company to join London-based investor Systemiq Capital, which he wants to help turn into the Sequoia of climate tech. Systemiq Capital, meanwhile, was spun out of advisory firm Systemiq in 2022 to allow it to thrive on its own, Goldstein said. The climate tech investor expects to reach final close on its second fund, worth $200 million, towards the end of 2023.

☆ South Africa's Pistorius seeks early release 10 years after killing girlfriend
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

JOHANNESBURG, March 31 (Reuters) - Former South Africa paralympic athlete Oscar Pistorius, jailed in 2016 for murdering his girlfriend Reeva Steenkamp, will ask a parole board on Friday to release him early from prison, lawyers and prison officials said. Pistorius, behind bars for almost seven years, became eligible for parole after serving half of his 13-year prison sentence. The closed-door parole board meeting is scheduled to start at 10 a.m. local time (0800 GMT) at the Atteridgeville prison near capital Pretoria. The independent parole board must determine, among other issues, whether Pistorius is at risk of committing similar crimes in the future, prison spokesperson Singabakho Nxumalo said. Pistorius' lawyer, Julian Knight, told Reuters he was not in a "position to comment until such time as the Parole Board has made a decision".

Summary Pistorius to appear at parole hearing next year - authoritiesMother of Reeva Steenkamp against release"Blade Runner" gained global fame for Paralympic titlesJOHANNESBURG, March 31 (Reuters) - Former South Africa Paralympic star Oscar Pistorius, jailed in 2016 for killing his girlfriend Reeva Steenkamp, has been denied parole, South Africa's prison authorities and a lawyer for the victim's family said on Friday. "Come August 2024, he would have reached the minimum detention period, then the (parole) board will make a decision," prison spokesperson Singabakho Nxumalo told a media briefing. [1/7] Olympic and Paralympic track star Oscar Pistorius leaves court after appearing for the 2013 killing of his girlfriend Reeva Steenkamp in the North Gauteng High Court in Pretoria, South Africa, June 14, 2016. He was not available to comment after Pistorius was denied parole. The basis for his argument for Pistorius' parole consideration was that "there doesn't seem to be any negative factors precluding his being released on parole because he meets the requirements of the department in terms of their policies and procedures".

☆ Oscar Pistorius: from 'Blade Runner' hero to convicted murderer
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +3 min

JOHANNESBURG, March 31 (Reuters) - Oscar Pistorius, known as the "Blade Runner" for his carbon-fibre prosthetic legs, went from public hero as a Paralympic champion to a convicted murderer in hearings that drew worldwide attention nearly a decade ago. 2004 - Running on carbon-fibre prosthetics which earn him the nickname "Blade Runner", Pistorius becomes a Paralympic gold medallist when he wins the 200 metres in Athens. 2008 - Pistorius wins three golds at the Paralympics in Beijing. 2014 - Sept. 12 - A high court judge convicts Pistorius of culpable homicide, letting him off the more serious charge of murder. Aug. 19 - South Africa's justice minister blocks Pistorius' expected release on parole after serving 10 months of his five-year sentence.

☆ UK's Ofcom delays BT fibre pricing decision after CEO remarks
▼ + stars: | 2023-03-17 | by ( Paul Sandle | ) www.reuters.com time to read: +3 min

Rivals such as Virgin Media O2 and alternative fibre providers known as altnets are investing billions of pounds to build competing networks. 'SIGNIFICANT CONCERN'But comments made by BT Chief Executive Philip Jansen to the Financial Times - headlined "BT chief warns Openreach fibre push will 'end in tears' for rivals" - caused "significant concern", Ofcom said. Ofcom chief Melanie Dawes said in a letter to Jansen, published on Friday, that the regulator was committed to network competition. "They must question why BT Group is reducing its wholesale charges whilst increasing the prices that consumers pay for broadband," INCA said. BT's earlier wholesale pricing, Equinox, was challenged by altnet CityFibre, but Ofcom decided not to intervene.

"We are taking notes from Zelenskiy," a senior Taiwan security official said, referring to Ukrainian President Volodymyr Zelenskiy's strong presence on social media. "We can't even fix sea cables on our own," the official said. "What if one day all 14 of Taiwan's undersea cables connecting us to the outside world break? Taiwan's military has long prepared back-up plans, including a fibre-optic network for communications within Taiwan, satellites, high-frequency radio, and microwave systems. "So the first step (for China) - with about 99 percent likelihood - is to cut our sea cables," Huang said.

CDP has teamed up with Australian infrastructure fund Macquarie (MQG.AX) to bid for Italy's most important telecommunications infrastructure, for which U.S. investment firm KKR (KKR.N) has already presented an offer. One of the people familiar with the matter said that CDP board members were set to meet at 3 p.m. (1400 GMT) to approve the offer. In recent weeks, sources have told Reuters that CDP-Macquarie and KKR have both set an 18-billion-euro ($19 billion) enterprise value for TIM's grid. CDP's offer would also involve TIM's smaller fibre-optic network rival Open Fiber, which is owned by CDP and Macquarie and would be folded into TIM's grid down the road. Under Italian rules, Rome has the power to block unwanted interest for assets of strategic importance such as TIM's grid.

CDP has teamed up with Australian infrastructure fund Macquarie (MQG.AX) in the offer for Italy's most important telecommunications infrastructure, which would compete with one submitted by U.S. investment firm KKR (KKR.N). In recent weeks, sources have told Reuters that CDP and Macquarie were ready to value TIM's grid at around 18 billion euros ($19 billion), including some 6 billion euros of debt. An offer from CDP and Macquarie leaves several scenarios open, two government officials said, without elaborating. Besides owning 10% of TIM, CDP controls fibre optic rival Open Fiber. Meloni's predecessors, Mario Draghi and Giuseppe Conte, have both backed plans to combine TIM's and Open Fiber's grids.

☆ OTE raises dividend, sticks to fast network investments
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

OTE, majority owned and managed by Deutsche Telekom (DTEGn.DE), will pay a dividend of 0.5765 euros per share, up 3.3% on a year earlier. Total return to shareholders, including a share buyback scheme, will come in at 425 million euros, it said. Under a revised policy beginning in 2023, OTE planned to distribute to its shareholders between 70% and 100% of free cash flow every year, providing macroeconomic conditions remained stable, it said. OTE expected free cash flow of about 500 million euros this year. Reporting by Angeliki Koutantou; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

Meloni's administration wants to secure public control of TIM's grid, but there is no common ground within the government on how to achieve this. KKR, which has already invested 1.8 billion euros ($1.9 billion)on TIM's grid, has now bid for a controlling stake in a unit comprising the entire TIM's domestic fixed access network and submarine cable business Sparkle. Ceding control of TIM's grid is a main plank of TIM Chief Executive Pietro Labriola's efforts to cut the former phone monopoly's 25 billion euro net debt and revamp its struggling domestic business. TIM's confirmed its board would meet on Friday to discuss KKR's offer and "take appropriate decisions". CDP's potential offer has been hampered in part by regulatory concerns given it is the main investor in TIM's fibre-optic rival Open Fiber, people familiar with the matter said.

☆ Wireless laser communications startup Transcelestial raises $10 mln
▼ + stars: | 2023-02-16 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +2 min

OAKLAND, Calif. Feb 16 (Reuters) - Singapore-based startup Transcelestial, which makes wireless laser communications equipment, said on Thursday it raised $10 million in a funding round led by Airbus Ventures. The funding will be used to boost internet infrastructure in Southeast Asia and India, Rohit Jha, CEO and co-founder of Transcelestial, said. Transcelestial's technology is basically fibre optics going wireless, Jha added. And you don't need these fibre cables anymore," said Jha. In addition to helping build out internet infrastructure more cheaply, wireless laser communications are more secure than using fibre optics, which can be tapped to steal data, Jha said, adding that if hackers try to intercept the laser beam, the devices just shut off.

CDP is seeking to finalise its bid after U.S. investment firm KKR (KKR.N) last week filed its own offer for the same Telecom Italia (TIM) asset. Two sources familiar with the matter told Reuters KKR's approach valued the venture at about 20 billion euros ($21.4 billion). Prime Minister Giorgia Meloni repeatedly said her government wants to secure public control of TIM's network. But there is no common ground yet within her administration on how to reach such a goal and it was no clear whether a CDP bid would receive the blessing of the Treasury. Economy Minister Giancarlo Giorgetti believes Rome has "multiple options" to put TIM's network under strategic government control, a separate source said, without elaborating.

☆ Everton halt Arsenal march, Liverpool slide continues
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +4 min

"When you start like this you don't deserve anything in a Premier League game," Liverpool manager Juergen Klopp said. Manchester United consolidated their top-four position with a 2-1 victory at home to Crystal Palace, although it came at a cost with midfielder Casemiro shown a straight red card. Everton are in 18th place with 18 points behind West Ham United on goal difference before the late kickoff. For Arsenal it was a wake-up call and they will be hoping for a favour from Tottenham, who play second-placed Manchester City on Sunday. Arsenal host Manchester City on Feb. 15.

☆ Airbus and Qatar Airways settle bitter A350 jet row
▼ + stars: | 2023-02-02 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

The "amicable and mutually agreeable settlement" ends a $2 billion row over surface damage on the long-haul jets. The spat led to the withdrawal of billions of dollars' worth of jet deals by Airbus and prompted Qatar to increase purchases from Boeing. The deal heads off what amounted to an unprecedented public divorce trial between heavyweights in the normally tight-knit and secretive $150 billion jet industry. Airbus' decision to revoke that order, separate from the disputed A350 contract, had been criticised by global airlines group IATA. Airbus said it had done its best to avoid pushing Qatar too far back in the queue.

☆ Thiem confirms rib injury, racing to be fit for Davis Cup
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

Jan 23 (Reuters) - Dominic Thiem has confirmed he suffered a rib injury during the Australian Open, but will look to recover for Davis Cup qualifiers which begin next month. Thiem, a former U.S. Open champion, has struggled with injuries in recent years and fallen to number 98 in the world as a result. Especially in Melbourne, I wanted to perform at my best, but I tore a small muscle fibre in my rib," Thiem said on Instagram. "The results show that it's not too bad, and playing at the Davis Cup should be possible. Austria play their Davis Cup qualifier against Croatia on Feb. 4-5.

☆ Weed’s next frontier is in Asia
▼ + stars: | 2022-12-23 | by ( Thomas Shum | ) www.reuters.com time to read: +3 min

HONG KONG, Dec 23 (Reuters Breakingviews) - Asia is beginning to warm up to the use of cannabis. Thailand legalised marijuana cultivation at home in 2022, while South Korea, Japan and Malaysia are paving the way for pharmaceutical applications. South Korea was the first country in East Asia to legalise pharmaceutical cannabis, and Japan, Malaysia and Taiwan are all considering similar moves. If American experience is any guide, regulated pharmaceutical use will inevitably trickle into the recreation market, boosting aggregate demand. Cannabis in Asia will burn slowly, but where there is smoke there may eventually be fire.

☆ Britain's BT combines two units in $122 mln cost savings drive
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

BT is aiming to take fibre broadband to 25 million premises by 2026 in a race with rival Virgin Media O2 and smaller alternative networks. The company said the new unit BT Business would be formed by putting together its Global and Enterprise divisions and would be led by Bas Burger, the current CEO of BT's Global unit. Philip Jansen, BT's chief executive, said that the new structure would benefit corporate customers by improving innovation and delivery. The 100 million pounds of savings would come from combining the management teams, support functions, product portfolios and systems of the two units. ($1 = 0.8197 pounds)Reporting by Sarah Young; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

SummarySummary Companies Government met TIM's key shareholders CDP, Vivendi on ThursdayWants to spin off Sparkle, put it under state controlSparkle manages fibre cables that stretch over 500,000 kmROME, Dec 15 (Reuters) - Italy's government wants to bring Telecom Italia's (TLIT.MI) (TIM) submarine cable unit Sparkle into state hands, three sources close to the matter told Reuters. The plan emerged after the government on Thursday started talks with leading TIM investors Vivendi (VIV.PA) and state lender Cassa Depositi e Prestiti (CDP) to identify "the best market-friendly options" for the phone group. Prime Minister Giorgia Meloni's administration aims to secure control of TIM's landline grid, an asset deemed of strategic importance, to create a wholesale-only broadband player. But the sources added that Rome also wants a spin-off of Sparkle, given the sensitivity of the data it carries, in order to put the unit into state hands. The sources said there would at least be three more government-sponsored meetings with TIM's stakeholders, with one scheduled for Dec. 20.

☆ Arctic data cable linking Europe to Japan secures first investment
▼ + stars: | 2022-12-02 | by ( Anne Kauranen | ) www.reuters.com time to read: +2 min

The subsea cable, which the developers say will be the first to be laid on the Arctic seabed, will connect Europe and Japan via North America as part of the global internet infrastructure. An earlier plan to run the cable along the Russian Arctic coastline, in a venture with Russia's second-biggest mobile phone operator Megafon (MFON.MM), was cancelled last year. This was due to Russia's increased reluctance to authorise the cable being laid in its territorial area, Finland's Cinia, the company leading the Far North Fiber consortium, said. Far North Fiber is a joint venture between Cinia, U.S.-based Far North Digital and Japan's Arteria Networks (4423.T). Far North Fiber gave no value for the investment but a source said one pair of fibres was worth around 100 million euros, with a further 100 million in maintenance costs required throughout its 30-year lifespan.

☆ Top Swiss court rules against Swisscom in fibre-optic case
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Nov 29 (Reuters) - Switzerland's highest court has rejected Swisscom's (SCMN.S) appeal over the standards it has to use in expanding fibre-optic networks to consumers, the court said on Tuesday. The Federal Administrative Court had ruled against Swisscom last year, and the Federal Supreme Court upheld that ruling in a verdict released on Tuesday. "The Federal Supreme Court rejects Swisscom's appeal in connection with the precautionary measure imposed by the Competition Commission (WEKO) for the expansion of the fibre-optic network. The decision of the Federal Administrative Court, in which it confirmed the provisional WEKO ban, is not arbitrary," the court said in a statement accompanying the verdict. In a statement following the verdict, Swisscom said it acknowledges the judgement.

☆ India's first private rocket company looks to slash satellite costs
▼ + stars: | 2022-11-26 | by ( Nivedita Bhattacharjee | ) www.reuters.com time to read: +4 min

[1/2] Employees pose in front of Vikram-S rocket, India?s first private rocket developed by Skyroot, an Indian Space-Tech startup, at a spaceport in Sriharikota, India, November 18, 2022. The Hyderabad-based company, backed by Singapore's sovereign wealth fund, GIC, says the $68 million it has raised will fund its next two launches. Skyroot faces both established and up-and-coming rocket launch rivals that also promise to bring down costs. India opened the door to private space companies in 2020 with a regulatory overhaul and a new agency to boost private-sector launches. The Skyroot rocket that reached 89.5 kilometers altitude in last week's test launch used carbon-fibre components and 3D-printed parts, including the thrusters.

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