Bt

The French television personality Laurent Baffie, interviewed by Le Figaro, came up with a nice phrase for the success beyond most expectations of the Paris Olympics: it had been ‘une parenthèse enchantée’, he said, but parentheses always have to close and ‘la merde va revenir’. I’m guessing he meant France’s brief political truce will end and attention will refocus on economic woes, even after a slight fall in unemployment – to 7.3 per cent, compared with the UK rate of 4.4 per cent – that was announced as another ‘bonne surprise’. Writing from the Dordogne, where lunch is long and markets that matter are not global and financial but local

A takeover battle for BT would bring much-needed excitement to the City — as well as a major political row. The privatised telecoms giant that rarely pleases its customers and regulators has seen its shares fall by four-fifths since late 2015. While many other tech-related stocks have rebounded, BT’s price is still down where it was when the market plunged in February — lockdown having interfered with BT Openreach’s broadband installation programme, slashed new orders from business customers and even knocked out the fixtures that might have been shown on BT Sport’s television channels. On top of all that, there’s a gaping hole in the pension fund. No wonder BT’s