UK media and telecoms correspondent
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Apr 17, 2013

Tesco quits U.S. as profits fall for first time in 20 years

LONDON (Reuters) – Tesco, Britain’s biggest retailer, will exit its loss-making business in the United States, taking a $1.5 billion writeoff that caused its annual profit to fall for the first time in 20 years.

The group also wrote down the value of its property in Britain by 800 million pounds and its businesses in Poland, Czech Republic and Turkey by half a billion pounds and said growth in its core home market had slowed despite huge investment.

Apr 9, 2013

“Iron Lady” Thatcher mourned, but opponents celebrate

LONDON (Reuters) – Admirers of Margaret Thatcher on Tuesday mourned the “Iron Lady” who as Britain’s longest serving prime minister in over a century pitched free-market capitalism as the only medicine for her country’s crippled economy and the crumbling Soviet bloc.

World leaders past and present, from Soviet leader Mikhail Gorbachev to U.S. President Barack Obama, led tributes the grocer’s daughter who sought to arrest Britain’s decline and helped Ronald Reagan broker an end to the Cold War.

Apr 9, 2013

“Iron Lady” Thatcher mourned, but critics speak out

LONDON (Reuters) – Britain and admirers worldwide are mourning Margaret Thatcher, who has died aged 87, as the “Iron Lady” who rolled back the state and faced down her enemies during 11 years as Britain’s first woman prime minister.

Her impact on the 1980s was such that opponents, including Labour’s Tony Blair and Soviet leader Mikhail Gorbachev, led tributes to a legacy that radically transformed the British economy along free-market lines now widely taken for granted and includes her role in the peaceful end to the Cold War.

Apr 9, 2013

Factory rebound, energy use boost UK industry

LONDON (Reuters) – British industrial output rose much more than expected in February, driven by a rebound in manufacturing and higher demand for energy during the unusually cold month, official data showed on Tuesday.

The improvement in industry, which late last year was the main drag on the economy, allays fears of another economic contraction in the January-March period, which would tip Britain into its third recession in less than five years.

Apr 9, 2013

Factory rebound, energy use boost UK industry in February

LONDON (Reuters) – British industrial output rose much more than expected in February, driven by a rebound in manufacturing and higher demand for energy during the unusually cold month, official data showed on Tuesday.

The improvement in industry, which late last year was the main drag on the economy, allays fears of another economic contraction in the January-March period, which would tip Britain into its third recession in less than five years.

Apr 8, 2013

“Iron Lady” Margaret Thatcher dies

LONDON (Reuters) – Margaret Thatcher, the “Iron Lady” who transformed Britain and inspired conservatives around the world by radically rolling back the state during her 11 years in power, died on Monday following a stroke. She was 87.

Britain’s only woman prime minister, the unyielding, outspoken Thatcher led the Conservatives to three election victories, governing from 1979 to 1990, the longest continuous period in office by a British premier since the early 19th century.

Apr 8, 2013

Britain’s “Iron Lady” Margaret Thatcher dies

LONDON (Reuters) – Margaret Thatcher, the “Iron Lady” who transformed Britain and inspired conservatives around the world by radically rolling back the state during her 11 years in power, died on Monday following a stroke. She was 87.

Britain’s only woman prime minister, the unyielding, outspoken Thatcher led the Conservatives to three election victories, governing from 1979 to 1990, the longest continuous period in office by a British premier since the early 19th century.

Apr 8, 2013

EU regulators to approve $15.8 billion Liberty, Virgin deal – sources

BRUSSELS/LONDON (Reuters) – John Malone’s Liberty Global will get unconditional EU clearance for its $15.8 billion (10 billion pounds) bid for Virgin Media, two people familiar with the matter said on Monday, in a move which pits the U.S. billionaire against rival Rupert Murdoch.

Liberty Global, Europe’s No. 1 cable operator, unveiled the takeover offer for Britain’s second-biggest pay-TV provider in February. The move underscores the growing rivalry between cable groups and traditional telecoms operators.

Apr 5, 2013

British music retailer HMV handed lifeline

LONDON, April 5 (Reuters) – Britain’s most high-profile
entertainment retailer HMV was handed a lifeline on Friday when
a turnaround group bought it, ensuring a future for a firm which
gave the Beatles one of their first big breaks.

Opened on London’s Oxford Street by English composer Edward
Elgar in 1921, HMV was bought by restructuring specialist Hilco
in a deal worth about 50 million pounds ($76 million), a person
familiar with the situation said.

Apr 4, 2013

Major telcos and investor Soros set sights on Myanmar

LONDON, April 4 (Reuters) – China Mobile, Vodafone
and a group backed by George Soros entered the race to
secure a mobile licence in Myanmar, as the battle to operate in
one of the last major untapped markets kicked off.

The Chinese and British groups, the first and second-largest
operators in the world respectively, said on Thursday they had
formed a consortium to bid for a licence in the former Burma,
where the government wants to increase the number of mobile
operators from two to four.

    • About Kate

      "I am based in London and cover the UK media and telecoms sectors including BSkyB, Vodafone and WPP. I have previously covered UK general news and sports including major events such as the Olympics and football World Cups."
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