BT's bond, AOL's blunder and Blair's web baby...

BT is back on the front page, with the Financial Times reporting that the incumbent telco is today set to increase the size of its bond issue to record levels.

With funds running dangerously low, debts flying sky high, credit ratings falling and doubts over BT's ability to raise cash from IPOs or asset disposal, the bond issue is expected to hit an enormous $10bn - the biggest ever dollar corporate bond. London's free newspaper and morning read for many a squashed commuter, the Metro, has an interesting story about an AOL blunder. The 'leading internet company', for which "security is obviously a critical and important priority", according to spokesman Nicholas Graham, yesterday admitted a security loophole allowed hackers to access members' personal data and credit card details. Oops. Not to worry, though, as the breach is a "unique, sophisticated process" to which AOL is responding on an 'ad hoc basis', while installing a fix. Finally, a fine Tony tale from The Times. The Edinburgh public school at which Blair was a pupil has invested £250,000 on equipment to allow it to broadcast lessons on the internet. Fettes College has asked students to bring laptops to class and hopes e-lessons will appeal to teenage students more than the lectures themselves, drawing subscribers from all areas of the web. It is the ultimate in e-education, but we have to wonder about the endless possibilities for e-truancy. Still, with Blair's web project of a central government website having seen its first phase go live last night, the man of the moment is making his presence felt in cyberspace in more ways than one...