FT, 16 Nov 2019, Labour’s BT plans leave investors nervous

Our chairman is quoted by the FT, responding to Labour's broadband policy announcement. “The [Labour party] policy is fundamentally flawed,” Mr Northway said. “It will make the UK a no-go area for capital.”    

BT Hit By False Accounts

The share price of BT Plc (BT.A) fell by over 20% yesterday after reporting that it would have to write off £530 million in its accounts as a result of "improper accounting practices" in its Italian subsidiary. That included "improper sales, purchase, factoring and leasing transactions" according to the announcement by the company. BT's CFO Simon Lowth commented that including borrowing against receivables to pay debts, improper sale and leaseback transactions and shifting of operating expenses into capital budgets. The company's ...