HEDDINGTON, England (Reuters) – For Peggy Robinson, the directives coming from the European Union are now so relentless she hires an extra person just to “wade” through the paperwork at her small family firm.
Gareth Jenkins, a small manufacturer from Wales, relies heavily on his lawyer to understand the many rules, and describes the experience as a snowstorm of new legislation coming from every direction.
LONDON, Feb 7 (Reuters) – Trading at Vodafone
worsened in the third quarter as customers in previously robust
northern Europe joined those in the south by cutting back from
using their phones, adding impetus to the British group’s
efforts to cut costs.
A worse than expected 2.6 percent drop in organic service
revenue in the three months to Dec. 31 marked an acceleration
from the 1.4 percent fall recorded in the second quarter and
showed the intense pressure on the British group.
LONDON (Reuters) – John Malone’s Liberty Global struck a deal on Tuesday to buy British cable group Virgin Media for about $15.75 billion in stock and cash, a move that would put the U.S. billionaire up against old rival Rupert Murdoch.
The companies announced the deal in a statement late on Tuesday, after Virgin Media, the second-biggest pay-TV provider in Britain behind Murdoch’s satellite group BSkyB, confirmed Liberty’s approach earlier in the day.
LONDON, Feb 5 (Reuters) – John Malone’s Liberty Global
has opened talks with Britain’s Virgin Media
over a takeover that would increase the U.S. cable
group’s dominance in Europe and step up a challenge to media
mogul Rupert Murdoch.
Virgin Media, the No. 2 pay-TV group in Britain behind
Murdoch’s satellite group BSkyB, has a valuation
including debt of around $20 billion.
LONDON (Reuters) – John Malone’s Liberty Global has opened talks with Britain’s Virgin Media over a takeover that would increase the U.S. cable group’s dominance in Europe and step up a challenge to media mogul Rupert Murdoch.
Virgin Media, the No. 2 pay-TV group in Britain behind Murdoch’s satellite group BSkyB, has a valuation including debt of around $20 billion.
LONDON, Feb 1 (Reuters) – Strong demand for broadband and
tight cost control helped Britain’s BT offset the
combined pressures of regulation and recession to post a
better-than-expected 7 percent rise in third-quarter pre-tax
In a continuation of the strategy that has sent shares in
the group to a near five-year high, BT said it had recorded
profits in the three months to Dec. 31 comfortably ahead of
forecasts, off revenues that were down by 6 percent.
LONDON, Jan 31 (Reuters) – BSkyB will offer its
popular sports channels online for a daily fee, seeking new
customers to offset slowing growth at its core pay-TV service
amid sluggish consumer spending.
Sky, Britain’s dominant pay-TV group which provides
fixed-line telephony, TV and broadband to 10.7 million
households, has adapted its strategy during the economic
downturn after years of chasing new subscribers to its core TV
PARIS/LONDON, Jan 30 (Reuters) – European telecoms
valuations are languishing near decade lows, and investors are
unlikely to be tempted back over the next few weeks, when
industry results will show that revenues remain on the slide.
Telco stocks were the region’s second-worst performing
sector last year, falling more than 10 percent, and few expect
the problems of intense price competition, tight regulation,
heavy investment needs and high leverage to abate this year.
LONDON, Jan 29 (Reuters) – Bumi Plc, the
London-based Indonesian coal mining group riven by shareholder
disputes, urged investors on Tuesday to reject British financier
Nat Rothschild’s proposals to overhaul the board and back its
own plan for peace instead.
Rothschild, who is locked in a bitter corporate governance
battle with Bumi Plc’s co-founders, Indonesia’s influential
Bakrie family, wants to remove 12 of the 14 current directors
and bring in a new board including himself.
By Kate Holton
(Reuters) – Prime Minister David Cameron on Thursday attacked multinational corporations that avoid paying their fair share of tax, promising action against such aggressive strategies after a public backlash in Britain.
The issue of tax avoidance by big business has turned toxic in recent years as millions of Britons struggle with low pay rises and austerity measures introduced to reduce the budget deficit.