LONDON, May 23 (Reuters) – UK-based publisher Pearson
, buffeted by a string of managerial changes and slowing
growth, unveiled a further shake-up on Thursday that it said
would take some time to implement.
Shares in the educational publisher and owner of the
Financial Times dropped in reaction to the news as analysts said
there were risks that the reorganisation, which increases its
focus on emerging markets and digital products, would drag on
LONDON (Reuters) – British pharmaceutical company BTG announced two deals on Thursday that it said could create an interventional medicine business with potential sales of $1 billion.
Chief Executive Louise Makin told Reuters the deals would more than double BTG’s revenues in the fast-growing market of targeting specific areas rather than administering drugs to the whole body.
LONDON, May 22 (Reuters) – Cable & Wireless Communications
said gaining government approval for the disposal of its
Monaco business was proving more problematic than expected, but
it had options available if the sale to Bahrain’s Batelco
Withdrawing from Monaco is a final step in focusing the
British telecommunications company, which had operations spread
from Macau to Britain’s Channel Islands, on the Caribbean and
LONDON, May 21 (Reuters) – Vodafone posted the
largest ever fall in its main revenue measure on Tuesday,
forcing it to keep a dividend from its healthy U.S. arm to
compensate for a slump in southern Europe.
The world’s second largest mobile operator, at the centre of
intense speculation as to whether it will sell its stake in U.S.
business Verizon Wireless in one of the world’s largest deals,
said it had also been hit hard by regulatory cuts and the timing
of last year’s leap year.
LONDON, May 8 (Reuters) – Tom Mockridge, who worked closely
with Rupert Murdoch in more than 20 years at News Corp,
is to take over at Virgin Media, pitting the two men
against each other in a battle for British pay-TV viewers.
Mockridge will take his in-depth knowledge of the European
media market into the camp of Murdoch’s long-time American rival
John Malone – who is in the process of acquiring Virgin – and
follows the New Zealander’s obvious displeasure at missing out
on a top job at News Corp in New York late last year.
LONDON, May 2 (Reuters) – Cost controls helped UK drugs
group Shire beat first-quarter earnings estimates, but
its cut in full year sales expectations on Thursday knocked the
shares 6.3 percent lower.
In the first set of results under new chief executive
Flemming Ornskov, the London-listed firm said it expected
full-year product sales to grow in the high single digits,
trimming its previous forecast of low double-digit growth.
LONDON, May 2 (Reuters) – Imagination Technologies
said annual profit would miss forecasts due to delays in signing
licensing deals as some of its chipmaking customers diversify
from smartphones and tablets into areas like smart technology
Shares in the British firm, whose technology is in Apple’s
iPhone and Samsung’s Galaxy S4, fell as
much as 27 percent on Thursday as it cut revenue forecasts for
the year ended April and for its new financial year.
LONDON, May 2 (Reuters) – British satellite communications
company Inmarsat said it had been hit by U.S. government
budget cuts in the first quarter, causing earnings to fall short
The company, which provides communications to shipping,
aircraft and remote locations worldwide, said it would respond
by cutting costs, both for its U.S. government business and
across the group.
NEW YORK/LONDON (Reuters) – U.S. retailer Best Buy Co Inc (BBY.N: Quote, Profile, Research, Stock Buzz) retreated from its ill-fated European expansion on Tuesday by selling its stake in a joint venture to Carphone Warehouse Group (CPW.L: Quote, Profile, Research, Stock Buzz) for less than half what it paid five years ago.
The 500 million pounds ($775 million) sale is the latest sign the world’s largest consumer electronics chain is scaling back its overseas ambitions to focus on its mainstay U.S. business, which faces cut-throat competition from the likes of Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) and Amazon.com Inc (AMZN.O: Quote, Profile, Research, Stock Buzz).
LONDON (Reuters) – British chip designer ARM Holdings beat first-quarter profit forecasts, driven by buoyant demand for smartphones and tablets that use its processor technology and the strength of the dollar.
Chief financial officer Tim Score predicted the success of customers like Apple and Samsung would help the firm to continue outperforming rivals, boosting its high-flying shares over 8 percent on Tuesday.