Misplaced Pages

#383616

89-606: BT Group plc (formerly British Telecom ) is a British multinational telecommunications holding company headquartered in London , England. It has operations in around 180 countries and is the largest provider of fixed-line , broadband and mobile services in the UK, and also provides subscription television and IT services . BT's origins date back to the founding in 1846 of the Electric Telegraph Company ,

178-630: A 4G service as BT Mobile BT Group CEO Gavin Patterson announced that BT plans to migrate all of its customers onto the IP network by 2025, switching off the company's ISDN network. On 15 January 2016, BT received approval by the Competition and Markets Authority to acquire EE . The deal was officially completed on 29 January 2016 with Deutsche Telekom then owning 12% of BT, while Orange S.A. owned 4%. Multinational corporation Most of

267-705: A 60% drop in share price in sixteen months. Philip Hampton joined as CFO, and in April 2001 Sir Iain Vallance was replaced as chairman by recognised turn around expert Sir Christopher Bland . In May 2001, BT carried out corporate Europe's largest ever rights issue , allowing it to raise £5.9 billion. A few days before, it sold stakes in Japan Telecom , in mobile operator J-Phone Communications, and in Airtel of India to Vodafone . In June 2001, BT's directory business

356-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

445-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

534-503: A debt of £30 billion, much of which was acquired during the bidding round for the 3rd generation mobile telephony (commonly known as 3G) licences. It had also failed in its series of proposed global mergers, and the funds flowing from its then virtual monopoly of the UK market place had been largely removed. It was also headed by two executives who had little support from the London Stock Exchange , particularly in light of

623-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

712-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

801-484: A package of broadcast rights for the Premier League from the 2013–14 to 2015–16 season, broadcasting 38 matches from each season. In February 2013, BT acquired ESPN Inc. 's UK and Ireland TV channels, continuing its expansion into sports broadcasting. ESPN America and ESPN Classic were both closed, while ESPN continued to be operated by BT. On 9 November 2013, BT announced it had acquired exclusive rights to

890-588: A range of services, each organisation would be able to focus on their respective service, with dedicated management. By law, the Post Office retained the exclusive right to operate the UK national telecom network, (although since 1914 had licensed Hull City Council to operate its own local telephone network, Kingston Communications ). The 1970s was a period of great expansion for the Post Office. Most exchanges were modernised and expanded, and many services, such as STD and international dialling were extended. By

979-480: A service (SaaS) applications. In the early days of its fibre broadband rollout, BT said it would deliver fibre-to-the-premises ( FTTP ) to around 25% of the Country, with the rest catered for by the slower fibre-to-the-cabinet (FTTC), which uses copper wiring to deliver the final stretch of the connection. In 2014, with less than 0.7% of the company's fibre network being FTTP, BT dropped the 25% target, saying that it

SECTION 10

#1732780403384

1068-546: Is a constituent of the FTSE 100 Index . BT controls a number of large subsidiaries. Its BT Enterprise division supplies telecoms services to corporate and government customers worldwide, and its BT Consumer division supplies telephony , broadband , and subscription television services in the United Kingdom to around 18 million customers. A number of privately owned electrical telegraph companies operated in

1157-590: Is no longer municipally controlled. The assets of the National Telephone Company were acquired by the UK Government to form Post Office Telephones in late 1911. Post Office engineers in the inter-war period had considerable expertise in both telecommunications and hearing assistive devices. Transistors were invented by Bell Telephone Laboratories in the US in 1948, however it was not until

1246-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

1335-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

1424-517: The Champions League and Europa League for £897m, from the 2015 season, with some free games remaining including both finals. On 1 November 2014, BT created a new central business services organisation to provide customer services and improve operational efficiency. On 24 November 2014, shares in BT rose considerably on the announcement that the company was in talks to buy back O2 , while at

1513-848: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

1602-690: The Electricity Supply Board , the Irish state owned power provider. This venture, entitled Ocean, found its main success through the launch of Ireland's first subscription-free dial-up ISP, oceanfree.net. As a telecoms company it found much less success, mainly targeting corporate customers. BT acquired 100% of this venture in 1999. Over the period 1980 to 2000, BT and other providers adopted Internet product strategies when it became commercially advantageous. In June 1994 BT and MCI Communications launched Concert Communications Services which

1691-806: The English National Health Service (NHS). In 2005, BT made a number of acquisitions. In February 2005, BT acquired Infonet (now re-branded BT Infonet), a large telecoms company based in El Segundo, California , giving BT access to new geographies. It also acquired the Italian company Albacom. Then in April 2005, it bought Radianz from Reuters (now rebranded as BT Radianz), which expanded BT's coverage and provided BT with more buying power in certain countries. In August 2006, BT acquired online electrical retailer Dabs.com for £30.6 million. The BT Home Hub manufactured by Inventel

1780-571: The US Department of Justice , and the US Federal Communications Commission and looked set to proceed. However, in light of pressure from investors reacting to the slide in BT's share price on the London Stock Exchange , BT reduced its bid price for MCI, releasing MCI from its exclusivity clause and allowing it to speak to other interested parties. On 1 October 1997, Worldcom made a rival bid for MCI which

1869-592: The United Kingdom of Great Britain and Ireland from 1846 onwards. Among them were: The Telegraph Act 1868 passed the control of all these to the Postal Telegraphs Department of the newly formed General Post Office (GPO). The Telegraph Act 1869 granted the GPO a monopoly over communications. With the invention of the telephone by Alexander Graham Bell in 1876 the GPO began to provide telephone services from some of its telegraph exchanges. It

SECTION 20

#1732780403384

1958-582: The 1880 ruling on the Telegraph Act 1869 mandated a nationalised service – which was instated in 1911 prior to the absorption of the NTC into the GPO in 1912. The trunk network was unified under GPO control in 1896 and the local distribution network in 1912. A few municipally owned services remained outside of GPO control. These were Kingston upon Hull , Portsmouth and Guernsey . Hull still retains an independent operator, Kingston Communications , though it

2047-516: The 1970s, resulting in the EPSS , International Packet Switched Service , and Packet Switch Stream . In 1979 the Conservatives decided that telecommunications should be fully separated from the Post Office. The British Telecom brand was introduced in 1980. On 1 October 1981, this became the official name of Post Office Telecommunications, which became a state-owned corporation independent of

2136-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

2225-464: The Concert managed network was extensive. Although Concert continued signing customers, its rate of revenue growth slowed, so that in 1999 David Dorman was made CEO with a brief to revive it. In late 2000, the BT and AT&T boards fell-out, partly due to each partner's excess debt and the resulting board room clear-outs, partly due to Concert's extensive annual losses. AT&T recognized that Concert

2314-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

2403-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

2492-574: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

2581-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

2670-626: The Post Office under the provisions of the British Telecommunications Act 1981 . In 1982 BT's monopoly on telecommunications was broken with the granting of a licence to Mercury Communications . On 19 July 1982, the Government announced its intention to sell shares in British Telecom to the public. On 1 April 1984, British Telecommunications was incorporated as a public limited company (plc) in anticipation of

2759-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

BT Group - Misplaced Pages Continue

2848-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

2937-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

3026-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

3115-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

3204-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

3293-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

3382-766: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

3471-507: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

3560-741: The acquisition of Lynx Technology. BT acquired Wire One Communications in June 2008 and folded the company into "BT Conferencing", its existing conferencing unit, as a new video business unit In July 2008, BT acquired the online business directory firm Ufindus for £20 million in order to expand its position in the local information market in GB. On 28 July 2008, BT acquired Ribbit , of Mountain View, California , "Silicon Valley's First Phone Company". Ribbit provides Adobe Flash / Flex APIs, allowing web developers to incorporate telephony features into their software as

3649-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

BT Group - Misplaced Pages Continue

3738-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

3827-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

3916-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

4005-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

4094-487: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

4183-534: The early 1970s, subscribers in most cities could dial direct to Western Europe, the US, and Canada; by the end of the decade, most of the world could be dialled direct. The System X digital switching platform was developed, and the first digital exchanges began to be installed. The Post Office also procured their own fleet of vans, based on the Commer FC model. Post Office Telecommunications researched and implemented data communications using packet switching in

4272-485: The failed merger led to their removal. As BT owned Concert in 1994, and still wanted access to the North American market, it needed a new partner. An AT&T /BT option had been mooted in the past, but stopped on regulatory grounds due to their individual virtual monopolies in their home markets. By 1996, this had receded to the point where a deal was possible, and a deal was consummated in 1998. At its height,

4361-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

4450-694: The first customers on to 21CN was successfully tested at Adastral Park in Suffolk. In January 2007, BT acquired Sheffield-based ISP, PlusNet plc, adding 200,000 customers. BT stated that PlusNet will continue to operate separately out of its Sheffield head-office. On 1 February 2007, BT announced agreed terms to acquire International Network Services Inc. (INS), an international provider of IT consultancy and software. In February 2007, Sir Michael Rake succeeded Sir Christopher Bland. In April that year, they acquired COMSAT International, followed in October by

4539-521: The first online not-for-profit fundraising service for UK charities called BT MyDonate as part of its investment to the community. The service will pass on 100% of all donations made through the site to the charity, and unlike other services which take a proportion as commission and charge charities for using their services, BT will only pass on credit/debit card charges for each donation. The service allows people to register to give money to charity or collect fundraising donations. BT developed MyDonate with

SECTION 50

#1732780403384

4628-594: The growing "office automation" market was addressed through Merlin-branded desktop computers made by ICL , with built-in modems to communicate over the phone network. Later products included the Merlin Tonto – developed by ICL from the Sinclair QL home computer – and the Merlin M4000 , a rebadged Logica computer. In the 1990s, BT entered the Irish telecommunications market through a joint venture with

4717-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

4806-521: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

4895-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

4984-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

5073-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

5162-494: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

5251-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

5340-511: The mid-1960s that a transistorised oscillator was introduced to make the calling sound on a telephone in the UK. In 1969 the GPO, a government department, became the Post Office , a nationalised industry separate from government. Post Office Telecommunications was set up as a division of the Post Office, in October 1969. The Post Office Act 1969 was passed to provide for greater efficiency in post and telephone services; rather than run

5429-456: The name change not much else changed in operations for another 12 months. On 14 May 2009, BT said it was cutting up to 15,000 jobs in the coming year after it announced its results for the year to 31 March 2009. Then in July 2009, BT offered workers a long holiday for an up front sum of 25% of their annual wage or a one-off payment of £1000 if they agree to go part-time. On 6 April 2011, BT launched

SECTION 60

#1732780403384

5518-494: The new plc were owned by the Government. In November 1984, 50.2% of the new company was offered for sale to the public and employees. Shares were listed in London, New York, and Toronto and the first day of trading on was 3 December 1984. The Government sold half its remaining interest in December 1991 and the other half in July 1993. In July 1997, the new Labour Government relinquished its Special Share ("Golden Share"), retained at

5607-569: The passing of the Telecommunications Bill. This Bill received royal assent on 12 April as the Telecommunications Act 1984 , and the transfer to British Telecommunications plc from British Telecom as a statutory corporation of its business, its property, its rights and liabilities took place on 6 August 1984. The remainder of the statutory corporation British Telecom was dissolved in 1994. Initially all shares in

5696-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

5785-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

5874-433: The same time confirmed it was also in talks to acquire EE . BT subsequently entered into exclusive talks to buy EE for £12.5 billion on 15 December 2014 and confirmed on 5 February 2015, subject to regulatory approval. The deal combined BT's 10 million retail customers and EE's 24.5 million direct mobile subscribers. Deutsche Telekom would own 12% of BT, while Orange S.A. would own 4%. In March 2015, BT launched

5963-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

6052-443: The support of Cancer Research UK , Changing Faces , KidsOut , NSPCC and Women's Aid . In March 2013, BT was allocated 4G spectrum in the UK following an auction and assignment by Ofcom, after paying £201.5m. On 1 August 2013, BT launched its first television channels, BT Sport , to compete with rival broadcaster Sky Sports . Plans for the channels' launch came about when it was announced in June 2012 that BT had been awarded

6141-559: The time of the flotation, which had effectively given it the power to block a takeover of the company, and to appoint two non-executive directors to the Board. The company changed its trading name to "BT" on 2 April 1991. In 1996 Peter Bonfield was appointed CEO and chairman of the executive committee, promising a "rollercoaster ride". In the early 1980s, BT Merlin was established as a business unit of British Telecom, at first to sell products such as phone systems to small businesses. In 1983,

6230-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

6319-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

6408-667: The world's first public telegraph company, which developed a nationwide communications network. BT Group as it came to be started in 1912, when the General Post Office , a government department, took over the system of the National Telephone Company becoming the monopoly telecoms supplier in the United Kingdom. The Post Office Act of 1969 led to the GPO becoming a public corporation, Post Office Telecommunications . The British Telecom brand

6497-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

6586-443: Was "far less relevant today" because of improvements made to the headline speed of FTTC, which had doubled to 80 Mbit/s since its fibre broadband rollout was first announced. To supplement FTTC, BT offered an 'FTTP on Demand' product. In January 2015, BT stopped taking orders for the on-demand product. On 1 April 2009, BT Engage IT was created from the merger of two previous BT acquisitions, Lynx Technology and Basilica. Apart from

6675-481: Was a $ 1 billion joint venture between the two companies. Its aim was to build a network which would provide easy global connectivity to multinational corporations. This alliance progressed further on 3 November 1996 when the two companies announced that they had agreed to a merger, creating a global telecommunications company called Concert plc. The proposal gained approval from the European Commission ,

6764-555: Was a threat to its ambitions if left intact, and so negotiated a deal where Concert was split in two in 2001: North America and Eastern Asia went to AT&T, the rest of the world and $ 400M to BT. BT's remaining Concert assets were merged into its BT Ignite, later BT Global Services group. In 2000, BT acquired Esat Telecom Group plc , and all its subsidiary companies, and Ireland On Line . It also purchased Telenor 's minority shareholding in Esat Digifone . The Esat Telecom Group

6853-439: Was accomplished via a share-swap, all British Telecommunications plc shareholders received one mmO2 plc and one BT Group plc (of which British Telecommunications is now a wholly owned subsidiary) share for each share they owned. British Telecommunications plc was de-listed on 16 November, and the two new companies started trading on 19 November. At the end of the series of sales, Sir Peter Bonfield resigned in October 2001. Bonfield

6942-448: Was also launched in June 2006. In October 2006, BT confirmed that it would be investing 75% of its total capital spending, put at £10 billion over five years, in its new Internet Protocol (IP) based 21st century network (21CN). Annual savings of £1 billion per annum were expected when the transition to the new network was to have been completed in 2010, with over 50% of its customers to have been transferred by 2008. That month

7031-664: Was confirmed in 1880 that the 1869 Act included telephony even though the telephone had not been invented when the Act was first conceived. In 1882, the Postmaster-General , Henry Fawcett started to issue licences to operate a telephone service to private businesses and the telephone system grew under the GPO in some areas and private ownership in others. The GPO's main competitor, the National Telephone Company (NTC), emerged in this market by absorbing other private telephone companies. It controlled most of telephony in Britain before

7120-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

7209-596: Was followed by a counter-bid from GTE . BT sold its stake in MCI to Worldcom in 1998 for £4,159 million. As part of the deal, BT also bought out from MCI its 24.9% interest in Concert Communications, thereby making Concert a wholly owned part of BT. The reaction to the failure of the deal in the City of London was critical of then Chairman Iain Vallance and CEO Peter Bonfield , and the lack of confidence from

7298-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

7387-418: Was introduced in 1980, and became independent of the Post Office in 1981, officially trading under the name. British Telecom was privatised in 1984, becoming British Telecommunications plc , with some 50 percent of its shares sold to investors. The Government sold its remaining stake in further share sales in 1991 and 1993. BT holds a royal warrant and has a primary listing on the London Stock Exchange , and

7476-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

7565-529: Was replaced by O2 plc in a further share-swap in 2005, and subsequently bought in an agreed takeover by Telefónica for £18 billion and delisted. In 2004, BT launched Consult 21, a consultation organisation that was to aid BT 21CN in the eventual conversion to digital telephony. In 2004, BT was awarded the contract to deliver and manage N3, a secure and fast broadband network for the NHS National Programme for IT (NPfIT) program, on behalf of

7654-430: Was replaced by former Lucent CEO Ben Verwaayen . During Bonfield's tenure the share price went from £4 to £15, and back again to £5. Bonfield's salary to 31 March 2001 was a basic of £780,000 (increasing to £820,000) plus a £481,000 bonus and £50,000 of other benefits including pension. He also received a deferred bonus, payable in shares three years' later, of £481,000, and additional bonuses of £3.3 million. mmO2 plc

7743-602: Was sold as Yell Group to a combination of private equity firms Apax Partners and Hicks, Muse, Tate & Furst for £2.1 billion. A demerger followed in November 2001, when the former mobile telecommunications business of BT, BT Cellnet, was hived off as a separate business named " mmO2 ". This included BT owned or operated networks in other countries, including BT Cellnet (UK), Esat Digifone (Ireland), and Viag Interkom (Germany). All networks now owned or operated by mmO2 (except Manx Telecom ) were renamed as O2. The de-merger

7832-630: Was split in two with the landline and internet operations were combining with Ocean to become part of BT Ignite. Esat Group was renamed Esat BT in July 2002, and eventually BT Ireland in April 2005. Esat Digifone became part of BT Wireless, before being spun off into a separate independent company mmo2 plc (now Telefónica Europe ). EsatBT installed the first DSL lines in Ireland, to try and compete heavily with former state telecoms company Eircom and operate one exchange, in Limerick . By 2001, BT had

7921-513: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

#383616