Setanta back up and running
Satellite TV company Setanta is this evening taking subscriptions again after apparently securing a last-minute reprieve. The company has been in discussions with a number of interested parties with regards to a rescue package which would see SPL and Premier League Football games continue to be beamed live in the UK. The company had apparently died a death just last week but funding initiatives are being secured at this moment in time and the company is now taking subscriptions from new customers.
However, Setanta is said to owe the English Premier League tens of millions of pounds in stage payments for the rights to the English game and the Football Association is threatening to take action. It is rumoured that unless the outstanding money is received by this Friday the English FA will auction the Setanta rights to the highest bidder. The English Premier League is one of the foundations of the Setanta company and the loss of this particular avenue of income could yet push the company back into trouble.
While thankfully Setanta has rescued itself from the brink for the moment, there is no doubt that there are still many obstacles to navigate in the short to medium term.
Share this..
Related stories
5,000 victims fooled by fraudsters during 2015
24/04/2016 It has been reported that more than 5,000 people were conned by fraudsters last year into sending planned payments to false bank accounts. Those who became a victim to the scam were tricked by emails, which required them to transfer money into the accounts of criminals, leaving the actual and genuine recipient unpaid. Police figures show that 5,480 similar cases were recording...
Read MoreOECD expects UK interest rates to rise 3.5%
The OECD has issued a very challenging report about the UK economy and the "threat of inflation" which is causing concern amongst UK investors and analysts. The OECD believes that UK base rates will need to rise from 0.5% at the moment to 3.5% by the end of 2011 to combat the threat of inflation which has increased significantly over the last few months. This summary of the UK economy would appear...
Read MoreUK pension funds set to move back into property
In a move which could give the UK property sector a solid foundation for future growth it has been revealed that pension funds and investment companies in the UK are currently in talks with the government about acquiring large scale housing developments. The idea is to create an institutional private rented sector which will see pension funds and investment companies buying up whole housing estate...
Read MoreFSA issues stringent stress tests for financial companies
The Financial Services Authority (FSA) has this week "beefed up" plans for stress tests within the UK financial arena. Even though large scale changes to the way in which banks are "tested" have already been implemented, the FSA is now looking towards something known as "reverse stress testing". So what exactly is this and what impact will it have on the financial markets of the UK? Initial ind...
Read MoreBradford and Bingley and the dead cat bounce
While it is not a term which endears the City to animal lovers there is a common phrase which can often describe the movement of the share price of troubled companies - a 'dead cat bounce'. So what is it and how does it possibly relate to Bradford and Bingley?
The term is used to describe a sustained fall in a share price to a level at which some investors will see value and believ...