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Share Price Information for BT (BT.A)

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Share Price: 104.50
Bid: 104.65
Ask: 104.75
Change: -0.50 (-0.48%)
Spread: 0.10 (0.096%)
Open: 105.00
High: 105.20
Low: 103.80
Prev. Close: 105.00
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Anger as BT shifts pension benchmark

Thu, 04th Nov 2010 12:35

BT could cut its pension scheme liabilities by up to £3bn after it decided to follow the government's lead and use the Consumer Prices Index (CPI) rather than the Retail Prices Index (RPI) as the base index.CPI has traditionally run at a lower rate than RPI because it does not include mortgage and other housing costs.At 30 September 2010 BT's pensions deficit was £5.2bn (£3.8bn, net of tax) compared with £7.9bn (£5.7bn, net of tax) at 30 June 2010. The impact of this decision is to reduce the BT's pension liabilities by around £2.9bn, it said. Analysts said that the deal with the trustee was worth as much as 27p a share.The telecoms giant has an agreement with the regulator to wipe out its deficit by making annual payments of just over £500m over the next 17 years. Today's agreement will not affect the next two payments of £525m in 2010 and 2011.BT workers reacted angrily to the change. The Communication Workers Union said that the changes could mean smaller pension payments for retired BT engineers and potentially hit 331,000 people in the scheme."This is an attack on the rights of responsible and hard working BT staff both past and present. CPI linking will mean smaller pension increases for many hard pressed pensioners and will lead to the pension falling below the real cost of living, " said Andy Kerr, deputy general of the CWU.
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10 Jul 2023 07:47

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10 Jul 2023 07:08

Jansen to step down from BT amid takeover rumours

(Sharecast News) - BT Group announced on Monday that its chief executive Philip Jansen had decided to step down from his position in the next 12 months, after spending four-and-a-half years in the role.

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10 Jul 2023 06:48

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9 Jul 2023 22:41

Sunday newspaper round-up: BT Group, Aston Martin, MPs

(Sharecast News) - BT has intensified its preparations to see off a possible takeover bid by its major shareholder Deutsche Telekom. For months now, the telecoms services provider had been working with Robey Warshaw and Goldman Sachs to prepare against such a scenario. Speculation in that regard was reaching a crescendo both in the City and within the sector, due to BT's need to invest £15bn in its new fibre-optic broadband network and multiple potentially destabilising factors. - The Sunday Telegraph

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6 Jul 2023 15:46

UK shareholder meetings calendar - next 7 days

Friday 7 July 
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Financials Acquisition CorpGM re extension of business combination deadline
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Steppe Cement LtdAGM
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C&C Group PLCAGM
CT Automotive Group PLCAGM
DCC PLCAGM
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Dr Martens PLCAGM
Helical PLCAGM
Personal Assets Trust PLCAGM
Renewi PLCAGM
RS Group PLCAGM
  
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28 Jun 2023 11:57

LONDON MARKET MIDDAY: Stocks upbeat ahead of central banking panel

(Alliance News) - Stock prices in London were higher at midday on Wednesday, as investors eagerly awaited a panel featuring the chiefs of the four largest central banks, hoping for hints on the future direction of monetary policy.

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TOP NEWS: Ofcom investigates BT after UK emergency call disruption

(Alliance News) - Ofcom on Wednesday said it has launched an investigation into BT Group PLC after a disruption to UK emergency call services.

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London stocks rise on China recovery hopes; energy shares fall

China's Premier Li says will take steps to boost demand

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27 Jun 2023 09:43

UBS downgrades BT Group to 'sell', shares slide

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(Alliance News) - Stock prices in London were set to open higher on Tuesday, following a positive session for equities in Hong Kong and Shanghai.

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HSBC says to shift global headquarters to London finance district

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BT apologises for faults that hampered UK's 999 emergency call service

(Alliance News) - BT Group PLC has apologised "sincerely" for technical faults as the primary 999 emergency call service was restored.

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