Barclays faces probe from Treasury Select Committee into six-hour outage

first_imgThursday 20 September 2018 5:48 pm Tags: Barclays Company The cause of the outage is “currently under investigation”, the bank said. Regulators at the Financial Conduct Authority were informed during the day.A Barclays spokesperson said: “We’re very sorry about the technical problems our customers have experienced today. Everything is now back up and running, and we’re really grateful for customers bearing with us.” Barclays faces an investigation from the Treasury Select Committee after it yesterday became the latest lender to experience a major systems failure. Share whatsapp Jasper Jolly center_img Barclays faces probe from Treasury Select Committee into six-hour outage Read This NextIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamour20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The WrapTop 5 Tips If You’re Losing Your EyebrowsVegamourJim Cramer Calls for Billionaire Tax: ‘This Society Has to Start AddressingThe WrapWhat Causes Hair Loss? Every Trigger ExplainedVegamour’Drake & Josh’ Star Drake Bell Pleads Guilty to Attempted ChildThe WrapSmoking and Hair Loss: Are They Connected?VegamourThis Is How Often You Should Cut Your HairVegamour’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp Millions of customers were unable to access online banking, telephone banking, as well as branch services for as long as six hours.The Treasury Select Committee is likely to ask the bank similar questions as those faced by payments firm Visa, banking services firm Cashplus, and high street challenger bank TSB, City A.M. understands.Previous committee probes have also dragged company bosses in front of MPs in Parliament. Barclays Bank UK is led by Ashok Vaswani, who reports to Jes Staley, the chief executive of the parent company.The scrutiny of the committee can prove damaging: TSB chief executive Paul Pester stepped down in the aftermath of the crisis, although outages in that case lasted weeks, rather than hours.Problems at Barclays began yesterday morning at 10:44 and lasted until after 4pm, the bank said. The affected services were unavailable for all users.last_img read more

Londoners flock to the country, snapping up £30bn of property outside the capital in 2018

first_img More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPuffer fish snaps a selfie with lucky divernypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org This year, 74,350 Londoners bought outside the city, a 3.8 per cent rise year-on-year, but still 39,390 less than in 2007, according to research by estate agent Hamptons International.But despite house prices in the capital dipping 0.5 per cent year-on-year, the average price of homes bought outside London was the highest on record, at £398,910.Most Londoners fleeing high property prices remained in the south of England, with more than three-quarters (77 per cent) leaving for the south-east, south-west or east of the country.But with affordability in the capital stretched, more Londoners than ever moved further afield. This year one 21 per cent moved to the Midlands and north of England, up on 15 per cent in 2015 and just 7 per cent in 2008.Aneisha Beveridge, head of research at Hamptons International said: “Historically most people moving out of London have done so because of changing priorities, such as starting a family or generally wanting a slower pace of life. whatsapp Tags: Trading Archive “But increasingly as affordability in the capital is stretched, more households are looking beyond the confines of London to buy their first home. For many this means moving further afield to areas such as the Midlands and North where they can get more for their money.“Despite a rise in the number of London leavers this year, 2018 is likely to be a peak. A slower housing market in 2019 will likely mean that we see fewer Londoners buying homes outside of the capital than in 2018.”Hertfordshire commuter borough Broxbourne drew the most London leavers in the east of England, while Sevenoaks was the most popular location in the south east. Bath and north east Somerset were the most popular locations in the south west. Sharecenter_img Wednesday 26 December 2018 10:39 am whatsapp Alex Daniel Londoners left the capital in their droves this year, buying £30bn worth of property outside the city as they sought to sidestep expensive house prices.The value of property bought outside the capital by Londoners was at its highest level since 2007 when the figure was £37bn, the highest on record. Londoners flock to the country, snapping up £30bn of property outside the capital in 2018 last_img read more

Labour has ‘close to zero’ chance of election majority

first_img Tags: General election 2019 “Either Boris gets a majority and we’re leaving the EU on the terms he’s negotiating, or we get a hung parliament in which case we have to anticipate that a minority Labour administration which will apply for an extension and there will be a referendum, the result of which we do not know.” whatsapp A worst case scenario could see Labour lose all six seats in Scotland, she warned. At best, she estimated the party would retain Edinburgh South.  Thursday 14 November 2019 3:21 pm Sir John Curtice received a knighthood for services to Social Sciences and Politics, from Queen Elizabeth II in 2018 (Picture credit: Getty Images) Read more: Nigel Farage refuses to stand down Brexit Party candidates in Labour-held seats Curtice added that the election was “a pretty binary contest”.  “The chances of the Labour party winning a majority are frankly as close to zero as one can safely say it to be given they look utterly incapable of regaining anything in Scotland,” he said. Meanwhile in Wales, which voted to leave in 2016, Labour risks losing its position as the most dominant party for first time in over 100 years, Awan-Scully said.  whatsapp Labour has “close to zero” chance of securing a majority this election, according to one of the country’s foremost polling experts.  He pointed to five seats in North East Wales as a “key battleground”, which Labour must hold if they are serious about making Boris Johnson “an ex-prime minister by Christmas”.  However, a straight win for Jeremy Corbyn when Britain heads to the polls on 12 December is next to impossible. Labour’s policy on Brexit – which is to renegotiate a new deal with Brussels and hold another referendum next summer – has eroded their support, Curtice warned.  Sir John Curtice today said the most likely outcome was either an outright Conservative victory or a hung parliament. But he noted that could still result in a Remain-led coalition and second referendum. Scottish polling expert professor Ailsa Henderson and Welsh expert professor Roger Awan-Scully backed that view.  Share Speaking at the Institute for Government this morning, Henderson said while many voters were still undecided: “No one is moving to Labour – no one.  Catherine Neilan Read more: Film star Eddie Marsan calls Jeremy Corbyn ‘either an antisemite or ignorant’ General Election: Labour has ‘close to zero’ chance of majority, says pollster John Curtice Britain’s main opposition Labour Party leader Jeremy Corbyn takes part in a general election campaign event in Blackpool, northwest England on November 12, 2019. – Britain goes to the polls on December 12 to vote in a pre-Christmas general election. (Photo by Oli SCARFF / AFP) (Photo by OLI SCARFF/AFP via Getty Images) Read more: Most Brits are left confused by Labour’s balancing act on Brexit, poll finds “This is the consequence of having an on-the-fence policy… with no articulated vision on the constitution, and when it is articulated is immediately contradicted by London.” “The problem the Labour party has is they’ve tried to satisfy everybody and have ended up satisfying nobody,” he said.last_img read more

Traveling over the holidays? Follow these tips to stay healthy

first_imgHealthTraveling over the holidays? Follow these tips to stay healthy Helen Branswell William Vanderson/Fox Photos/Getty Images Senior Writer, Infectious Disease Helen covers issues broadly related to infectious diseases, including outbreaks, preparedness, research, and vaccine development. Admit it. There are few things worse than being sick over the holidays.So we have some advice. Well, Dr. Gary Brunette has some advice. Brunette heads the travelers’ health branch at the Centers for Disease Control and Prevention. He gave STAT some recommendations to maximize your chances of healthy holidays, especially if you’re traveling.(Confession: We should have done this sooner. Because for those of you who are traveling overseas for the holidays, some of this advice may be coming too late. But we know some of you are probably also thinking about winter or spring break holidays — maybe Santa is slipping cruise tickets under the tree? — so it’s still worthwhile. Read on.)advertisement By Helen Branswell Dec. 22, 2017 Reprints Norovirus: An illness that strikes cruise ships, Chipotle, and maybe now the RNC Privacy Policy Related: About the Author Reprints If you haven’t had a flu shot yet, you can still get one. But it takes about two weeks for the antibodies it generates to develop, so you’ve waited a little too long to be protected at Christmas. Still, even after the season peaks, there will be flu viruses around for a few more months, so you will get some protection.There are other shots, tooPeople who are heading abroad over the holidays (or later this winter) ought to make sure their vaccinations are up to date, Brunette stressed. Diseases that won’t often spread here — because of high vaccination coverage — can still be contracted elsewhere.For instance, Greece has had a large measles outbreak this fall. And this highly contagious virus is also spreading in parts of England right now. It’s a miserable disease, and the vaccine is very protective.If you’re going further afieldPeople planning travel abroad should talk to their health care provider well in advance of their trip, Brunette said. That allows time to make sure your vaccination status is up to date and you can stock up on medicines your doctor might prescribe, such as anti-malarial drugs if you should take them.You might also ask for — or be offered — a prescription for just-in-case antibiotics, if you are going to a place where it’s quite likely you won’t be able to avoid picking up a stomach bug from the local food or water.“If we think someone is at high risk for getting traveler’s diarrhea, we might suggest they take some antibiotics with them to self-treat if they get traveler’s diarrhea,” Brunette noted. Trending Now: Please enter a valid email address. @HelenBranswell Comparing the Covid-19 vaccines developed by Pfizer, Moderna, and Johnson & Johnson Newsletters Sign up for Daily Recap A roundup of STAT’s top stories of the day. The flu season gets off to an early start — and may shift into high gear around the holidays Related: Leave this field empty if you’re human: For destinations like these, there is some simple and oft-repeated advice. Drink bottled water. Ask for ice-free drinks. Choose food sources with care.“Boil it, peel it, or forget it,” Brunette said. “It’s always safer to drink bottled water. It’s always safer to eat cooked stuff.”If you are combining the holidays with a little nip and tuckIt might not seem terribly festive, but apparently traveling to the Caribbean for plastic surgery over the holidays is a thing.“We’ve been seeing a lot of people will go down to the Dominican Republic, for example, to get elective cosmetic surgery,” Brunette said. “And they’ll often do it during the holiday season. … They can sit on the beach while they’re recovering.”The reason this has come to the CDC’s attention is because some of these folks come home with more than they bargained for — namely, drug-resistant infections. Brunette said some need surgery to repair the damage these tissue infections cause. There is no norovirus vaccine, so the main way to protect yourself is by washing your hands frequently while on board, Brunette said.The CDC has a ton of information about cruise ships and noroviruses on its website. You can even search the inspection scores of cruise lines and individual ships before you book. That tool is here.Good advice, wherever you areThe admonition to wash your hands a lot is good all-around advice for a variety of reasons, especially in winter. Germs on hands can contaminate food and spread colds and influenza.A related recommendation: Keep your fingers away from your nose and your mouth. Seriously. Someone with a cold sneezes into his hands and a little while later shakes yours. You reach up to rub the underside of your nose or pick something from your teeth and voila! You’ve put the viruses right where they want to go.About the fluInfluenza season started early this year, and there are a lot of infected people around. Holidays are an ideal time for viruses to spread — the mixing of generations makes it easy for sick kids to infect elderly relatives and others. If you get medical care abroad — either elective procedures like cosmetic surgery, or emergency surgery because you’ve fallen ill or been in a vehicle accident — tell you doctor on your return, he said.Some of the popular medical tourism destinations have higher rates of antibiotic-resistant bugs than are found in the U.S. Knowing where you got the care will help your doctor back home know how to treat an infection that arises after your return.Attention sun seekersThe CDC is still urging pregnant women to avoid travel to places where Zika may be circulating, which includes a lot of Caribbean and Latin American locations. You can find information on that here.Other mosquito-transmitted infections — dengue, chikungunya — also circulate in some of these warm locales, so remember to take precautions against bug bites, Brunette said.And Northern Hemisphere skin probably hasn’t been exposed to much sunlight for a while, so remember the sunscreen. Santa’s hat should be red. Your back should not.Best wishes for happy and healthy holidays! Speaking of cruisesA few years ago, norovirus outbreaks on cruise ships threatened to tank the industry. The industry got really serious about the problem and now pretty much sets the standard for how to clear these horrible viruses out of an environment so the following cruise is a healthy one.Still, there are occasional outbreaks. Earlier this month, people on a cruise departing from Port Everglades, Fla., came down with what’s suspected to be norovirus infections.advertisement Tags infectious diseasepublic healthVaccineslast_img read more

Canada adds sterling to foreign currency reserves

first_imgJames Langton Ontario court certifies FX benchmark class action Keywords Foreign exchange Related news OSC approves $24.5M in settlements with TD, RBC Share this article and your comments with peers on social mediacenter_img The move comes in response to an assessment by the Department of Finance and the Bank of Canada of the benefits of including additional currencies to its holdings, “to increase the liquidity of the portfolio and to be better positioned to respond in the unlikely event of a severe disturbance in exchange markets.” Finance also notes that the inclusion of the British pound in the EFA is in line with the objectives of the portfolio, which are to “aid in the control and protection of the external value of the Canadian dollar and provide the government with foreign currency liquidity.” TransferWise to launch borderless debit card in Canada in 2019 In a bid to improve its ability to deal with a major disruption in foreign exchange markets, the federal government is further diversifying its foreign exchange holdings, federal finance minister Jim Flaherty announced Monday. Flaherty said Canada will add pound sterling-denominated assets to the Exchange Fund Account (EFA), which currently holds U.S.-dollar, euro- and yen-denominated assets. Facebook LinkedIn Twitterlast_img read more

Budget’s housing affordability changes to focus on supply, demand, regulation

first_img Trudeau promises cities help to lower high cost of housing The Trudeau government will take steps in Tuesday’s federal budget to make home-buying more affordable with changes affecting supply, demand and regulation, The Canadian Press has learned.Finance Minister Bill Morneau has promised the budget will focus on ways to help improve housing affordability for Canadians, and particularly for millennials, who are now in their mid-20s to late-30s. Related news The changes, along with expected measures on adult skills training, pharmacare and supporting seniors, will be included in the Liberals’ fourth and final budget before the October federal election.The budget’s housing measures could grab a lot of attention. Polls have suggested affordable home ownership is a key concern for millennials and could be a vote winner with the increasingly critical demographic.Morneau has heard housing-policy recommendations from numerous sources, including academic, real estate and mortgage experts, on how best to help more people buy homes.The budget will respond to issues in the housing-related areas of supply, demand and regulation, says a government source, who was not authorized to speak publicly about the plan ahead of its release. They declined to provide specifics on the measures.The government, however, faces a delicate task of introducing changes that avoid destabilizing housing markets, driving up prices or enabling already overstretched households to pile on more debt.Internal briefing documents show Morneau was warned in November that Canadians’ heavy debt loads are a key risk that have made abrupt shocks to incomes, house prices or interest rates a “significant concern.” The memo was obtained by The Canadian Press through access-to-information law.Morneau has been feeling pressure to act on housing.On the demand side, the real estate, mortgage and home-building industries have urged Ottawa to ease or eliminate stress tests that have tightened mortgage qualification rules and, as a result, cooled once-scorching markets in cities like Toronto and Vancouver.The federal changes, combined with provincial and municipal guidelines, were brought in to improve the quality of mortgage debt and to lower risks to the broader economy.Morneau has insisted the stress tests were needed as a way to keep prices in some markets from rising at an unsustainable clip. He’s shown no signs that he’s prepared to dial them back.There have also been industry calls for the reintroduction of insurance on 30-year amortization mortgages as a targeted way to help people at the lower end.But Paul Kershaw, an associate professor at the University of British Columbia, said many experts, himself included, have discouraged the government from weakening the stress tests or extending amortization out of fear such moves would only encourage people to borrow more.Kershaw is the founder of Generation Squeeze, a group dedicated to informing policy decisions about the socioeconomic challenges of younger Canadians.He wants policies that keep home prices from growing faster than earnings.“We’ve tolerated — not only that, we’ve celebrated — home prices rising a lot over the last decade,” Kershaw said.“And we need a government that says, ‘Nope, henceforth we want housing to be for homes first, investments second.’ ”He recommends Ottawa change “outdated” tax policy that shelters principal residences from taxation, thus exacerbating demand, limiting supply and pushing up prices.On regulation and enforcement, Ottawa could take steps to crack down on people who falsely claim a home is their primary residence as a way to dodge capital gains taxes.Morneau recently vowed to do more to enforce laws in another area that’s been directly connected to housing: money laundering.Last year, reports from an international anti-money-laundering organization and the RCMP warned that organized crime groups had bought luxury home sales in the Vancouver area to launder and hide their money.On supply, Kershaw said the federal government could create incentives to encourage more cities to raise their housing density targets. Ottawa could offer a larger share of infrastructure transfers — like those for transit — to municipalities that agree to allow the construction of more homes to be built per plot of land.To increase demand, Kershaw said the government could bump up the maximum, one-time withdrawal limit of $25,000 under the home buyer’s plan, which enables Canadians to borrow once from their own registered retirement savings plan to buy a home.Ottawa could also increase the non-refundable, $5,000 first time home buyers tax credit, which offers up to $750 in tax relief, he said.The budget’s release date was at risk of being delayed after the Conservatives took steps to use their opposition day Monday for an extended House of Commons voting session, which would have spilled into Tuesday.The Tories were hoping to use the procedural move to draw attention to the House of Commons justice committee, which is also set to meet Tuesday to determine if it will recall former attorney general Jody Wilson-Raybould as a witness.But Mark Kennedy, a spokesman for House Leader Bardish Chagger, said Sunday that the Tories’ opposition day would be rescheduled to Wednesday. Therefore, it would not interrupt the budget’s release.Opposition MPs were furious last week after the Liberals used their majority at the committee to delay an attempt to call Wilson-Raybould to testify again on the SNC-Lavalin affair.The move prompted shouts from opposition MPs at committee of “shame,” “coverup” and “despicable!” Andy BlatchfordCanadian Press Share this article and your comments with peers on social media Time for policymakers to focus on housing shortage: RBC Keywords Budget 2019,  Housing New stress test may moderate housing market: BMO female homebuyer shakes hand with real estate agent in office seoterra/123RF Facebook LinkedIn Twitterlast_img read more

Back To School For More Than A Million Students

first_imgBack To School For More Than A Million Students VIC PremierMore than one million students – including 84,000 preps – will return to classrooms this week across Victoria as 14 new schools open their doors as part of the Andrews Labor Government’s school building boom.Premier Daniel Andrews and Minister for Education James Merlino today officially opened the new Docklands Primary School and welcomed its first students.The three-storey vertical school will cater for 525 students and includes a library, music and arts rooms, a competition-grade indoor court for basketball and netball, and outdoor learning terraces.Docklands Primary School has more than 200 students starting this year, including more than 110 prep students, and is one of 14 new schools opening in 2021.A co-located kindergarten has also been built on-site which will open in Term 1, 2021 with space for 66 kids. It will deliver both sessional and integrated kindergarten programs for three and four year-olds.Every new Victorian primary school opening from 2021 will have a kindergarten on-site or next door, reducing the burden on parents and ending the dreaded double drop off. This includes all 10 primary schools opening this year.Docklands Primary School is one of 14 new schools opening in 2021.In the past five years, the Labor Government has invested more than $9 billion in more than 1,600 school upgrades – creating more than 10,000 construction jobs.The Government is now ahead of schedule on its commitment to open 100 new schools by 2026, with 48 new schools opening between 2019 and 2022.For more information on the Labor Government’s school building boom, visit schoolbuildings.vic.gov.au.As stated by Premier Daniel Andrews“The first day of school is a big day every year – but particularly after the year we had in 2020. I thank every teacher, student and parent for their efforts last year and wish them well for the year ahead.” “We’re building new schools across the state so every child has a great local school and a best start in life – wherever they live.”As stated by Minister for Education James Merlino“We’re in the middle of the biggest school building boom in our state’s history – that’s good for children and their education, and it’s good for jobs.” New schools opening in 2021:Aintree Primary SchoolCranbourne West Secondary CollegeDocklands Primary SchoolEdenbrook Secondary CollegeEdgars Creek Primary School Eynesbury Primary School Footscray High School – Pilgrim CampusGaayip-Yagila Primary SchoolGarrang Wilam Primary SchoolKeelonith Primary SchoolOberon High SchoolOrchard Park Primary SchoolRamlegh Park Primary School Riverbend Primary School /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Andrews, AusPol, Australia, basketball, building, children, court, education, Government, Minister, Music, Oberon, parent, Premier, school, students, teacher, Victorialast_img read more

CU-Boulder Center Gets $210,000 Anti-Violence Award

first_imgThe Center for the Study and Prevention of Violence at the University of Colorado at Boulder has received a $210,000 grant from the Metropolitan Life Foundation in New York City for its work on reducing juvenile violence. The CU-Boulder center was named the co-winner of the 1997 Positive Choices Youth Anti-Violence Initiatives Program sponsored by the foundation. The other winner was the Institute for Urban and Minority Education at Columbia University’s Teachers College, which will receive $190,000. The Center for the Study and Prevention of Violence developed 10 hands-on guides — “Blueprints for Violence Prevention” — that provide all the information a community or agency needs to replicate a proven violence-reduction program. The center reviewed more than 400 violence-prevention programs before identifying 10 that met the highest scientific standards for preventing or reducing levels of violence. The grant will enable the center to expand the program by creating an interactive Web site where visitors can input specific community requirements and population details and receive recommendations on suitable Blueprints programs to implement. The site also will feature videos of model programs. “We’ve identified programs that meet the highest scientific standards for demonstrating that they can successfully prevent or reduce levels of violence, and we strongly recommend them as effective, blue-chip programs within a portfolio of anti-violence programs,” said Professor Delbert Elliott, director of the center. The Metropolitan Life Foundation was founded by the Metropolitan Life Insurance Co. and has given more than $146 million since its founding in 1976. Published: Feb. 12, 1998 Share Share via TwitterShare via FacebookShare via LinkedInShare via E-maillast_img read more

A constitutional call to arms and reflections on a judicial career

first_img Location CLE Credits When [email protected] Free Contact The 2018 John Paul Stevens Lecture: Judge Carlos F. Lucero Thursday, September 27, 2018 5:30 PM – 7:30 PM Moderated By Dean S. James Anaya, Professor Suzette Malveaux Cost This event has ended. More Information Speakers Judge Carlos F. Lucero Julie Ann Williams or Hannah Daniel The University of Colorado Law School and the Byron R. White Center for the Study of American Constitutional Law are honored to welcome the Honorable Carlos F. Lucero, Circuit Judge of the United States Court of Appeals for the Tenth Circuit, to present the 2018 John Paul Stevens Lecture A Constitutional Call to Arms and Reflections on a Judicial Career on Thursday, September 27 at 5:30 p.m. in the Wittemyer Courtroom. Registration for this event is now closed. Please contact [email protected] with questions.A warm thank you to the Colorado Hispanic Bar Association and the Colorado LGBT Bar Association for their sponsorship of this event. Sponsored By The Byron R. White Center for the Study of American Constitutional Law, the Colorado Hispanic Bar Assocation, and the Colorado LGBT Bar Assocation Public; Faculty; Staff; Students; Alumni; CLE Credit Ethics: 0 Wittemyer Courtroom, Wolf Law Building General: 1 Forlast_img read more

AT&T, Vodafone merger could reset smartphone power balance

first_img Operators back Qualcomm role in open RAN path AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 26 FEB 2014 A desire to “push back” against technology giants like Apple and Google could fuel the interest of AT&T in buying Vodafone, according to Tim Boddy, an analyst with Goldman Sachs.Speaking during a Tuesday-afternoon session at Congress, Boddy noted that smartphone purchasing by AT&T and Vodafone together equates to more than 20 per cent of the total revenue Apple generates from iPhone sales, which would give a combined entity “industry-leading scale benefits”.“Vodafone is in the spotlight as an asset many would consider to be in play,” said Boddy. “It doesn’t have a controlling shareholder and is based in a country where M&A is permitted.”AT&T ruled itself out of bidding for Vodafone in January, but some analysts believe it could mount a takeover attempt in the second half of the year as it looks to expand its international presence.Although such empire-building has previously had disastrous consequences for shareholder value creation, Boddy thinks there is a stronger rationale for what he calls “out-of-market” transactions this year.“The mobile industry faces an unprecedentedly concentrated ecosystem of suppliers, with Apple and Google obviously dominating in terms of operating systems and services,” he explained.Goldman Sachs also expects to see more in-market M&A over the next two years – although regulation could clearly pose a barrier to such consolidation – as operators look to reduce their running costs and eliminate aggressive rivals like France’s Iliad.“When you look at the disruption it has caused, taking enormous amounts of market share over the last two years, you can see why there might be interest in taking it out,” said Boddy.Even so, he is less optimistic about the prospect of consolidation within the US, indicating this may have to wait until the “next administration”. Indeed, any likelihood that Sprint will acquire T-Mobile US seems to have receded, with Department of Justice officials unlikely to support a tie-up between the country’s third- and fourth-biggest players, according to recent reports.Boddy also doubts operators will generate much value from M&A that takes them into adjacent industries. “It’s very hard to move the needle,” he said. “Telefonica and Vodafone have targets for new services that equate to low-single-digit percentages of total revenues and changing the dynamic is enormously challenging.” Vodafone, Safaricom beat MTN to Ethiopia licence AT&TFinancialmergerMWC 2014 NewsVodafone Mobile World Live Las operadoras respaldan el papel de Qualcomm en la RAN abierta Mobile World Live is the online service dedicated to providing the mobile industry with daily news coverage & analysis of the biggest global market developments. Read more Author Home AT&T, Vodafone merger could reset smartphone power balance Previous ArticleTelefonica, LG, Samsung, Sony ink wearables allianceNext ArticleAlcatel-Lucent CEO pleas for more investment in Europe Tags Relatedlast_img read more