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Finance

Job cuts, lost customers and a £22bn debt pile: what has gone wrong at Virgin Media O2?

The company has lost 182,000 broadband and 644,000 mobile customers in two years and is operating in an increasingly competitive market competition Mike Fries may be totting up swingeing job cuts, a £22bn debt pile and the loss of hundreds of thousands of customers, but he appears to be putting a brave face on the situation. “In our minds, anyway, this is not a crisis,” the boss of the co-owner of Virgin Media O2 said this week. The UK telecoms company, which offers broadband, TV, landline and mobile services, had just announced £800m in cost savings, including potentially cutting up to a quar

The Guardian
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Finance

Trump may have lost but don’t bet Democrats can fix the economy

There’s not much they can do over the next couple of years to alleviate angry voters’ stress over prices It was the economy, again. Although Donald Trump largely ignored it, voters’ acute concerns over the rising cost of living fuelled a political upheaval for the ages that is likely to deliver the biggest swing toward Democrats since Watergate, granting them the largest House majority in nearly four decades alongside their biggest edge in the Senate since 2008. Still, having come to power promising to restore affordability, the new crop of Democrats are soon to discover that there is not much

The Guardian
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