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UPDATE 1-Two Hong Kong firms to pay $11 mln to settle SEC insider trading charges
2014-01-28 13:40:31| Oil & Gas - Topix.net
Two Hong Kong asset management firms have agreed to pay $10.9 million to settle charges by the U.S. Securities and Exchange Commission of insider trading ahead of a bid by China's CNOOC for Canadian oil company Nexen Inc. The proposed accord, disclosed in a court filing Monday, would add to the more than $18 million the U.S. securities regulator ... (more)
BT spends extra GBP 50 mln to boost fibre broadband roll-out
2014-01-24 17:45:00| Telecompaper Headlines
(Telecompaper) BT has announced a further investment of GBP 50 million to make fibre broadband available to over 400,000 additional premises in more than 30 cities over the next three years. The company is investing more than GBP 3 billion on deploying fibre broadband, with its open access fibre network already passing more than 18 million premises. This new investment will focus on three areas: enabling city cabinets that were not part of BT's original commercial plans due to technical challenges or local planning restrictions; deploying fibre to cabinets to serve multi-dwelling units such as apartment blocks; and laying further fibre including 'Fibre-to-the-Premises' (FTTP) technology to new build sites in cities.
Tags: extra
gbp
boost
broadband
Netflix adds 4 mln customers in Q4, plans Europe expansion
2014-01-23 08:42:00| Telecompaper Headlines
(Telecompaper) Netfix reported better-than-expected results for the fourth quarter, adding 3.85 million new customers for a total of over 44 million worldwide at year-end. The online video service added 2.33 million customers in the US, better than its outlook of 2.01 million, for a total base of 33.42 million. In international markets, Netflix added 1.74 million for a total 10.93 million, also better than forecast. Revenues, including DVD rentals, rose to USD 1.175 billion from USD 945 million a year ago. Net profit was also better than expected and jumped to USD 48 million or USD 0.79 per share, from USD 8 million or 0.13 per share a year earlier. Free cash flow was a positive USD 5 million. Netflix forecast slightly slower customer growth in Q1, with net additions of 2.25 million in the US and 1.60 million abroad. Net profit and EPS are expected little changed from Q4. The company confirmed it's testing new subscription formats offering customers a choice of streaming on just one or three devices, compared to the standard four currently. It also expects to soon start distribution with a smaller US TV provider, after similar deals in the UK, Denmark and Sweden, where it said it has had positive reception. In addition, Netflix said it's planning a "substantial European expansion" later this year. A long-term bond issue of USD 400 million is planned for Q1 to help fund the expansion plans and commission new content.
Tags: europe
plans
customers
expansion
Police raid sugar factory in Amasya raid on TL 12 mln corruption claim
2014-01-22 07:30:10| Sugar Industry News
A police operation was launched at a sugar factory in Amasya province on Tuesday based on several allegations of corruption amounting to over TL 12 million.
Tags: claim
police
factory
sugar
Fon closes USD 14 mln funding round led by Qualcomm
2014-01-20 16:40:00| Telecompaper Headlines
(Telecompaper) Global Wi-Fi network Fon has completed financing totalling USD 14 million (EUR 10.3 million). Qualcomm, through its venture capital arm Qualcomm Ventures, led the fundraising round, underscoring its relationship with Fon as a strategic investor. Fon is in the process of developing a new Fon router that combines social Wi-Fi with social music, based on a chipset from Qualcomm Atheros. This new router is expected to be available from Fon in the first half of 2014. At the same time, Qualcomm Atheros is integrating Fon as a feature available via SDK for its chipsets. Other investors participating in the round include Fon's existing investors: Index Ventures, Google, Coral, Atomico and Deutsche Telekom. Fon will use the funds to build out its presence in the US as well as expand its reach into new geographies worldwide. It will also fund new product development, including a new Fon router and its newly developed "Wi-Fi for Business," a Wi-Fi service for small and medium businesses that is expanding the concept of social Wi-Fi into business.
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