LONDON, Dec 9 (Reuters) – Tesco cut profit
expectations for the fourth time in five months on Tuesday as
the cost of rebuilding after an accounting scandal and a
dramatic loss of market share increased pressure on the British
grocer and its new boss.
Shares in the world’s third-biggest retailer plunged as much
as 17 percent to a 14-year low, wiping at one point over 2.5
billion pounds ($3.9 billion) off its stock market valuation, as
the group cut its full-year trading profit forecast by nearly a
LONDON, Nov 28 (Reuters) – Vodafone is reviewing
potential acquisitions, including of Europe’s leading cable
operator Liberty Global, to counter the pending
consolidation among rivals in Britain, five people close to the
The internal deliberations at the world’s second-biggest
mobile operator, have picked up pace in recent days after
broadband leader BT Group revealed it was in parallel
talks to buy either EE or Telefonica’s 02.
LONDON/PARIS (Reuters) – BT Group’s choice between buying Britain’s number one or two mobile operator will come down to whether the broadband leader wants to stretch to buy EE, a higher quality, larger company, or take the lower risk, simpler option presented by 02.
The 168-year-old national fixed-line network operator has been in talks with Telefonica’s 02 and separately with EE, which is owned by Orange and Deutsche Telekom, for nearly two weeks, people familiar with the situation said.
LONDON, Nov 20 (Reuters) – British retail sales jumped in
October, suggesting that shoppers will take the edge off an
end-of-year economic slowdown as Europe’s weak growth takes its
toll on Britain’s factories.
Sales volumes rose by a much stronger-than-expected 0.8
percent on the month, helped by purchases of furniture after the
housing market surged earlier this year and by falling prices,
data from the Office for National Statistics showed on Thursday.
LONDON (Reuters) – Britain is investigating whether the way Premier League football match rights are sold is anti-competitive, alarmed by the runaway costs broadcasters have to pay to show the top games in the country’s national sport.
Media regulator Ofcom’s move poses a threat to the business model of the league, which bankrolls the salaries of some of the world’s best players with TV revenues, and to broadcasters Sky (SKYB.L: Quote, Profile, Research) and BT (BT.L: Quote, Profile, Research) who attract subscribers with exclusive matches.
LONDON (Reuters) – Britain is investigating whether the way Premier League soccer match rights are sold is anti-competitive, alarmed by the runaway costs broadcasters have to pay to show the top games in the country’s national sport.
Media regulator Ofcom’s move poses a threat to the business model of the league, which bankrolls the salaries of some of the world’s best players with TV revenues, and to broadcasters Sky and BT who attract subscribers with exclusive matches.
LONDON, Nov 13 (Reuters) – Cable & Wireless Communications
Plc believes its expensive victory in the battle to buy
broadband and TV provider Columbus will give it the heft it
needs to take on fierce rival Digicel in the Caribbean.
C&W, which has sold operations from Macau to Monaco, agreed
to buy Columbus last week for $1.85 billion plus $1.17 billion
in debt, after fending off competition for the firm backed by
pay-TV mogul John Malone, chairman of Liberty Global Plc
LONDON, Nov 12 (Reuters) – Sainsbury’s threw down
the gauntlet to larger rival Tesco on Wednesday, taking
a hit on profits and the dividend to fund lower prices for
customers in the latest escalation of the British supermarket
Sainsbury’s, which had outperformed the sector for years
until a recent slowdown, plans to cut spending hard, rein in its
property expansion and find more efficiencies in the business to
pay for lower prices.
LONDON (Reuters) – Vodafone (VOD.L: Quote, Profile, Research, Stock Buzz), the world’s second-biggest mobile operator, nudged its full-year earnings forecast higher on Tuesday as improving demand in its big European markets and an investment push into new products helped reduce a drop in revenues.
Faced with increased competition from entertainment groups and fixed-line providers, Vodafone also said it plans to launch a broadband and TV service in its home market to compete with rivals who offer a wider range of products.
LONDON, Nov 10 (Reuters) – Serco turned to its
investors for emergency cash on Monday after writing off 1.5
billion pounds ($2.5 billion) and slashing profit forecasts,
sending shares plummeting by a third.
The announcement deepened the sense of turmoil at the
British outsourcer which has reported a string of profit
downgrades, contract problems and scandals since 2013.