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Ofcom says mobile contracts should ditch inflation-related price rises

Ofcom says mobile contracts should ditch inflation-related price rises

UK telecoms regulator Ofcom wants to ban inflation-related rises in phone and broadband contracts. Instead, it says any potential mid-contract price rises should be set out in pounds and pence.
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Global smartphone market is set for recovery, says new forecast

A new forecast from research specialists Canalys shows the smartphone market is set to recover next year. Worldwide shipments declined by 12% last year but that decline is expected to slow to 5% this year.
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Vodafone and Three plan to merge their UK businesses

Vodafone and Three plan to merge their UK businesses

New Hutchison/Vodafone network would be biggest UK operator

Vodafone Group plc and CK Hutchison Group Telecom Holdings Limited have agreed to combine their UK telecommunication businesses, respectively Vodafone UK and Three UK. The merger will create a large new network operator to compete with Virgin Media O2 and EE.
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UK mobile payment service Paym to close in March 2023

UK mobile payment service Paym will close on 7th March 2023. The service, which allowed users to make and receive payments using their mobile phone numbers, was launched in 2014.
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Qualcomm legal action moves forward in the UK

Qualcomm legal action moves forward in the UK

Which? seeks payout for Samsung and Apple smartphone owners

Consumer protection organisation Which? has been given permission by the UK's Competition Appeal Tribunal to represent Apple and Samsung smartphone buyers in a legal case against chip manufacturer Qualcomm.
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Opinion Articles

Review: BeeWi BBS020 solar-powered hands-free Bluetooth car kit

Mark Bridge writes:

Persuading mobile phone users not to hold their phone when they’re driving should be a simple task. It’s dangerous, it’s against the law and the penalties include a fine plus points on your licence.

But even then, there’s often an excuse about convenience and usability. Some people don’t like wearing headsets, some don’t like wires and some simply forget to charge the batteries.

That’s why a new hands-free Bluetooth loudspeaker from French company BeeWi caught my eye.

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The simple case of the disguised iPhone 4

Mark Bridge writes:

I remember the launch of Carweek back in the 1990s. It was a motoring magazine produced as a weekly glossy newspaper; a novel format, although one that probably led to its demise. 'Spy shots' of prototype cars seemed then – as now – to be much sought-after, despite them often not showing much resemblance to the finished product. Indeed, I often wondered how you could possibly road-test the handling of a new car when it was covered with unflattering body parts that served to disguise its shape.

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Maria Sharapova and the 'geek porn' of unboxing

Mark Bridge writes:

'Unboxing' is - or was - the new geek porn. We know this because The Register told us so in 2006, when the practice of video recording the unpacking of new consumer electronics products started to become popular. Just over two years later The Independent tried to tell us that unboxing was still the new geek porn but, by then, conventional porn had probably returned to... er... pole position.

Why do I mention this?  Well, Sony Ericsson has just published its own unboxing video featuring tennis player, model, charity worker and Sony Ericsson brand ambassador Maria Sharapova.

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Scaremongering news stories? There's an app for that

Mark Bridge writes:

Here’s a news headline that caught my eye.

Shotgun certificate up for renewal?  There's an app for that

Or, if you prefer…

Police to allow gun users renew licences with iPhone app

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Mobile payments: solutions get dumber while cards get smarter?

Mark Bridge writes:

Last week I spotted a couple of mobile-related news stories that involved payment company MasterCard. One came from CPI Card Group, which had introduced a “next-generation, MasterCard-approved payment tag” (a.k.a. 'sticker') that enabled “any mobile device to be used to make payments anywhere using the worldwide contactless MasterCard PayPass standard” (by sticking it on the back).

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Thursday, April 22, 2010

Virgin Media completes a major refinancing programme

Virgin Media, which offers a 'quad-play' combination of broadband, TV, fixed-line phone and mobile services in the UK, has completed a three-year refinancing programme. It says this has fundamentally changed the capital structure of its business, providing greater flexibility and scope for the use of any surplus future cash flow.

Over the past three years, Virgin Media has worked with its lenders to significantly change its debt mix from predominantly near-term bank debt to predominantly longer-term bond debt at attractive financing costs. During this period the company has issued $1 billion of convertible notes, £1.7 billion of senior unsecured notes and £1.5 billion of senior secured notes. It also successfully amended its senior credit facilities in October 2008 and again in October 2009 to improve repayment options and flexibility and today closed a new £1.9 billion bank facility.

Virgin Media says it now has a capital structure that will allow it greater focus on its operational plans and flexibility around the future use of cash flow, as well as driving top-line growth.

Eamonn O’Hare, Virgin Media’s chief financial officer, said, "Our focus has been to steer the business into a position where we have a long-term, fit-for-purpose capital structure that supports our ambitions. The completion of this process is a major achievement, particularly in light of the market conditions over much of the last three years. In order to overcome those issues in the credit markets, we have been innovative and proactive in our efforts to substantially reduce our refinancing risk."

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Categories: Networks and operators, NewsNumber of views: 5970

Tags: Virgin

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