VodafoneThree raised its cost-savings target to £1 billion per annum by 2032, as it set out a UK growth strategy with a new set of “bolder” financial ambitions.

During a Vodafone Group investor briefing, the company focused on its ambitions for VodafoneThree and how it will deliver significant value creation over the coming years.

Among the highlights, the company stated it was upping its cost savings goal, which was previously pegged at £700 million per annum by full year 2030, to £1 billion per annum by full year 2032, which will run to March that year.  By 2030, £800 million in annual cost savings is expected.

The upgraded target comes more than two months after Vodafone completed a full takeover of VodafoneThree, acquiring CK Hutchison’s 49% in the business for £4.3 billion.

Targets
Other financial targets set for the company include a goal of mid-to-high single digit annual growth in adjusted earnings between 2025 and 2032, and a plan to more than triple operating free cash flow during the same period.

The briefing, hosting by group CEO of European markets, Ahmed Essam and VodafoneThree CEO Max Taylor, also reiterated an £11 billion network investment plan spanning 10 years to upgrade the UK’s mobile network, accelerate leadership in the consumer market and grow its Business unit.

Margherita Della Valle, CEO of Vodafone, said VodafoneThree had been created because it saw an opportunity to transform the UK market.

“After a strong start, we now have even greater confidence in the opportunity ahead. That’s why we are upgrading our cost target to £1 billion, with VodafoneThree set to become an increasingly important contributor to Vodafone’s growth ambitions,” she said.

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The parent company of agentic AI specialist Manus secured more than $500 million in a funding round conducted a little more than a month after it resumed independent operations following the unwinding of an acquisition by Meta Platforms.

Butterfly Effect, which developed the AI company, did not reveal how it plans to use the money or a valuation.

However, Bloomberg reported last month a potential $500 million raise would give it a valuation of around $4 billion, double the sum Meta Platforms paid for the company in an agreement struck in December 2025, before the deal was cancelled on orders from the Chinese government.

Existing investors Tencent, HSG and ZhenFund were involved in the funding round, along with Boyu Capital and IDG Capital.

Investment rules
Manus formally resumed independent operations in September after China’s National Development and Reform Commission told all parties to cancel the deal with Meta Platforms, following an investigation which cited concerns over foreign investment rules.

Manus’ founding investors then moved to buy the company back at the same $2 billion valuation.

China’s concerns related to the fact Butterfly Effect was founded in the country in 2022 but moved its corporate base to Singapore in 2025.

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Samsung Electronics forecast consolidated operating profit of KRW107.4 trillion ($80.2 billion) in preliminary Q3 figures, the first time it would surpass the KRW100 trillion milestone.

With its chip business continuing to thrive, Samsung’s projected quarterly operating profit figure is a 782% increase year-on-year.

Revenue is expected to hit around KRW195 trillion, up almost 127%.

It would be the South Korean company’s fourth straight quarter of record operating profit, fuelled by an ongoing memory chip shortage driven by rising demand for AI services.

Josh Gilbert, lead analyst for APAC at investment platform eToro, told CNBC with “AI spending driving demand for memory and supply remaining tight, the larger story of the chip sector remains intact”, pointing to the fact emerging AI agents would require more memory than chatbots.

“Memory buyers are also committing to multi-year supply agreements, giving Samsung greater visibility over demand in a business where investors have always worried about the next downturn,” CNBC reported Gilbert as saying.

Samsung posted revenue of KRW171.5 trillion and operating profit of KRW89.5 trillion in Q2.

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Apple has reportedly teamed up with South Korean giant LG Electronics to develop a range of security accessories as part of the iPhone maker’s upcoming push into smart home devices.

According to Bloomberg, Apple will introduce a smart deadbolt lock, an indoor and outdoor security camera, a floodlight camera and a thermostat, all co-developed with LG.

The products will carry LG’s brand, with the electronics giant handling manufacturing and product support.

Bloomberg noted LG has filed to gain regulatory approval for the devices with the Federal Communications Commission.

They are designed to work with Apple’s upcoming new smart home hub, upgraded HomePod mini and TV set top box, which the outlet has previously reported on.

Apple will introduce the products on 13 October, however the accessories developed with LG are not expected to reach consumers “for at least a few more months”, Bloomberg added.

The outlet noted Apple has in the past partnered with so-called second party suppliers such as Belkin and Logitech to develop products as a way to expand its ecosystem  without bearing the full cost and complexity of solely producing them.

The foray into cameras, doorbells, thermostats pits Apple and LG into direct competition with Amazon and Google, which have an established portfolio of similar devices.

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Veon struck a decade-long agreement with Amdocs, tasking the software company with advancing its digital strategy and modernising core technology operations.

The operator stated the deal will require its partner to use certain IP rights from Veon’s QazCode AI platform, which will be integrated into Amdocs telecoms-specific aOS agentic operating system.

On a broader level, Amdocs will run and operate the company’s technology operations, accelerate Veon’s push around digital services and “provide long-term cost predictability” across its IT operations in Eurasia.

Veon CEO Kaan Terzioglu said around 27% of group revenue is generated from digital and AI services, “and that contribution keeps growing”.

He explained QazCode had helped Veon build the technology and talent to bring better digital experiences to millions, and adopting Amdocs’ aOS is a natural next step.

“Our strategic partnership with Amdocs creates a strong foundation to keep improving people’s lives through digital and AI innovation over the next decade.”

Anthony Goonetilleke, group president of New Growth Horizons at Amdocs, described Veon as “one of the most ambitious digital operators” in the industry and “exactly the kind of partner” it made a telco-specific operating system for.

 “With aOS, Amdocs will help transform Veon’s operations, customer experiences and digital services through verticalised, telco-specific AI, advancing its evolution toward intelligent agentic autonomy.”

He added the agreement expands Amdocs’ presence in Kazakhstan, Uzbekistan and the wider Eurasia region, “where we see significant opportunity”.

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UK regulator Ofcom opened an investigation into Meta Platforms, assessing if the company failed to address the risks posed by its Instagram Instants offering before it launched.

The probe comes five months after the social media giant introduced Instants on Instagram, a feature where content is shared by users and disappears after it has been viewed once.

Ofcom explained it launched a formal investigation to establish if Meta failed to comply with its duties under the UK Online Safety Act by not conducting a suitable and sufficient illegal content risk assessment.

The regulator is also to assess if Meta completed a separate risk assessment for children before the launch.

Ofcom explained the UK Online Safety Act requires technology companies to assess and mitigate the risk of people encountering illegal content.

Platforms likely to be accessed by those under 18 years-old must also be assessed to mitigate the risk of exposure to certain types of harmful materials.

The regulator stated providers must update risk assessments before making any significant changes to the design or operation of their service.

George Lusty, director of enforcement at Ofcom, said its online safety laws are clear.

“This is a vital step that tech firms must take to protect their users. You wouldn’t launch a new car without testing it properly and it’s the same for online services.”

Ofcom will now gather evidence to determine if a breach has occurred.

In March, Ofcom warned technology companies they must apply minimum age rules with highly effective checks on their services or face possible enforcement action.

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UAE operator group e& reverted to its original branding of Etisalat, a name it stated reflects its heritage, strategy and ambitions for the AI era.

The company said it was making the name change to mark its 50^th anniversary, explaining the original Etisalat name means “connection” which has guided “what we build and the role we play”.

It rebranded from Etisalat to e& in February 2022, stating at the time the new identity was designed to reflect its ambitions to push from a traditional telecoms company into a global technology and investment conglomerate.

However, the company is now pushing for AI-led growth, launching numerous strategic projects to expand its digital infrastructure in the UAE and beyond.

For example, in July it struck a deal with cloud provider Cloud 42 to launch sovereign AI compute services for its home market, a move it said supports the country’s vision to build an AI-native economy and advance the national agentic AI agenda.

This was followed in September by a deal with Accenture to accelerate digital and AI-led transformation across government and enterprise sectors in the UAE.

In the telco space the company is putting a firm focus on its core business in the Middle East as part of a strategic shift which led to the sale its 16.2% stake in Vodafone Group to tycoon Xavier Niel.

On the rebrand, the company added that today, Etisalat “carries even greater significance as we bring connectivity, digital capabilities and infrastructure together to enable new opportunities”.

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Norway’s government proposed a temporary ban on the use of AI glasses in select public places as privacy concerns mount over how the wearable devices are used.

It proposes banning the use of AI glasses in places including parks, beaches, museums, shopping centres and at events, while extending the restrictions to places visited by children including playgrounds.  

The ban could further apply to “places where privacy is particularly important”, such as health and training institutions with changing rooms and showers; and across universities, colleges and educational institutions.

The proposal is to be introduced to parliament and makes Norway the first nation to take concrete action against wearables using AI technology, and camera and audio features.

Norway emphasised it is not proposing a total ban on AI glasses and other wearables, with private use allowed, for example if in public places where there is no risk of filming or photographing someone without consent.

Torgeir Micaelsen, Minister of Digitalisation and Public Administration, said the temporary ban would allow the government to conduct a thorough investigation on the use of AI glasses, enabling an “informed debate that can lay a good foundation for lasting regulation”.

Counterpoint Research estimates consumers will spend more than $1 trillion on wearable devices between 2026 and 2032.

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BT Group stepped in to acquire TalkTalk’s consumer and wholesale businesses out of administration, effectively preventing a collapse of one of the UK’s major broadband providers.

The deal will result in a total cash impact of £400 million in BT’s current financial year, which runs to 31 March 2027, involving the purchase price and other costs.

BT stated TalkTalk had embarked on a prolonged but ultimately unsuccessful sales process for its operations and it took action after recognising the risk to the country, especially vulnerable customers and key public services “should the company collapse”.

The deal will bring BT 1.5 million retail customers and 1 million wholesale customers across the UK.

BT stated TalkTalk reported revenue of £1.2 billion and “was loss-making” in the last 12 months, but it is confident the company would become value accretive as the business is stabilised and synergies realised.

CEO Allison Kirkby described the situation as “genuinely unprecedented”, saying millions of citizens and businesses were at risk if TalkTalk had collapsed.

She said the acquisition was “the only viable option to keep millions of customers connected and supported”.

The deal faces an antitrust review given BT owns UK broadband company Openreach, which is a major TalkTalk rival.

However, the government has issued a Public Interest Intervention Notice due to the impact a collapse of TalkTalk could have on vital phone and broadband services.

The Competition and Markets Authority is to report its findings to the government by 19 October.

Stark warning
Kester Mann, director of consumer and connectivity at FDM CCS Insight, said the BT deal cements “a painful decline” of one of the UK’s most established broadband providers and its demise should serve “as a stark warning to any value-focused telecom provider”.

“With a clear value-for-money proposition, it should have been thriving amid continued concerns over the cost of living. But it failed to respond sufficiently to a fast-changing and increasingly competitive market, became burdened with debt following a buy-out in 2021 and regularly suffered with poor perception over service.”

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