LONDON, Oct 24 (Reuters) – WPP, the world’s largest
advertising company, posted third-quarter organic revenue well
ahead of expectations on Thursday, snapping up new work as its
two biggest rivals focus on merging their businesses.
Martin Sorrell’s British firm said like-for-like growth for
the three months to the end of September was up 5 percent, a
clear acceleration from the 2.4 percent it reported in the first
half and ahead of the 3.8 percent predicted by analysts.
LONDON, Oct 17 (Reuters) – Britain’s dominant pay-TV
provider BSkyB shrugged off the launch of rival BT’s
new sports service with strong customer demand for its TV
and broadband services, sending its shares to a near 12-year
BT, a former telecoms monopoly, in August launched a new TV
service showing Premier League soccer free to its existing
broadband customers in a bold attempt to hold on to its core
subscribers who had been moving to BSkyB in droves.
LONDON (Reuters) – Burberry CEO Angela Ahrendts rebuilt the brand after over-exposure of its trademark pattern alienated wealthy clientele. Her approach: to embrace digital innovation, build a strong online business and tap Chinese and Latin American markets.
Now Apple Inc is hoping she can do the same at the world’s most valuable technology company.
LONDON, Oct 15 (Reuters) – Christopher Bailey, the designer
credited with restoring the cachet to fashion brand Burberry
, is to become chief executive next year when
long-standing boss Angela Ahrendts will move to Apple.
The 157-year-old British fashion house, famous for its
camel, red and black check pattern, said on Tuesday Ahrendts
would step down by mid-2014 after which Bailey would combine his
role as chief creative officer with being chief executive.
LONDON, Oct 10 (Reuters) – British energy supplier SSE
inflamed a growing political row over the rising cost of
living on Thursday when it hiked prices by more than three times
the rate of inflation.
The leader of the opposition Labour Party put increasing
energy bills at the heart of his campaign for the 2015 election
last month when he said he would freeze prices for 20 months if
his party wins power.
LONDON (Reuters) – Aston Martin ASTON.UL has abandoned its attempt to tap into the popularity of so-called city cars after selling fewer than 150 of its “Cygnet” model, an embarrassing blow to the struggling 100-year-old British luxury sports car maker.
A source close to Aston Martin said its two-door Cygnet, which started production in 2011 based on the Toyota 77203.T iQ but was marketed at three times the price, had been dropped from the company’s line-up after dismal sales of the 32,000 pound ($51,500) vehicle.
LONDON/NEW DELHI, Oct 8 (Reuters) – Vodafone intends
to increase its stake in its Indian subsidiary after the country
cleared foreign companies to take full ownership of local
carriers, a source familiar with the group’s plans said on
The British company is set to seek approval in the coming
weeks from the Indian government’s Foreign Investment Promotion
Board to buy stakes from minority partners, the source said,
adding that it has yet to decide if it will buy out all
LONDON/SAN DIEGO (Reuters) – Verizon Communications agreed on Monday to pay $130 billion to buy Vodafone Group out of its U.S. wireless business, signing history’s third largest corporate deal announcement to bring an end to an often tense 14-year marriage.
The deal in cash and stock will give Verizon full access to the profits from the United States’ largest mobile operator, handing it fresh firepower to invest in its mobile network and fend off challengers in a tough market that is fast becoming even more competitive.
LONDON/SAN DIEGO, Sept 2 (Reuters) – Verizon Communications
agreed on Monday to pay $130 billion to buy Vodafone
out of its U.S. wireless business, signing history’s
third largest corporate deal to bring an end to an often
fractious 14-year marriage.
The two firms said Vodafone would get $58.9 billion in cash,
$60.2 billion in Verizon stock, and an additional $11 billion
from smaller transactions in a deal that is due to close in the
first quarter of next year.
PARIS/LONDON (Reuters) – Vittorio Colao, the urbane Italian boss of Vodafone (VOD.L: Quote, Profile, Research, Stock Buzz), believes that negotiating major deals is an art whose finest practitioners know how to wield power and resist pressure.
The 51-year-old chief executive, who cut his teeth as a management consultant at McKinsey, used these lessons at the negotiating table to do what his predecessors could not: outlast Verizon Communications (VZ.N: Quote, Profile, Research, Stock Buzz) in a test of will over the biggest U.S. mobile provider, Verizon Wireless.