Paul's Feed
Aug 28, 2014

Chipmaker CSR rejects Microchip approach, shares soar

LONDON (Reuters) – Britain’s CSR (CSR.L: Quote, Profile, Research, Stock Buzz) has rebuffed an approach from Microchip Technology (MCHP.O: Quote, Profile, Research, Stock Buzz), saying its U.S. rival would have to pay more if it wants to bolster its role in the “Internet of Things” with the chipmaker’s radio technology.

“The price proposed by Microchip has been rejected and the board is considering its options for the company,” CSR said in a short statement on Thursday.

Aug 27, 2014

Business leaders urge Scots to vote against independence

LONDON, Aug 27 (Reuters) – More than 130 business leaders
came out against Scottish independence on Wednesday,
highlighting the economic risks of secession days after the
campaign to end the union was boosted by a strong performance in
a TV debate.

The heads of giants BHP Billiton, temporary power
provider Aggreko and HSBC bank joined forces
with the bosses of smaller firms within Scotland’s whisky and
fishing industries to sign a letter calling for the United
Kingdom to stay together.

Aug 27, 2014

After a 35-year interlude, Kate Bush wows fans with comeback gig

LONDON (Reuters) – Kate Bush mixed note-perfect renditions of her biggest hits with two visually stunning interpretations of her longer conceptual works on Tuesday to delight fans who had waited 35 year for the British singer and songwriter to return to the stage.

Receiving a standing ovation before she had sung a note, Bush opened with “Lily” from her 1993 release “The Red Shoes”, followed by “Hounds of Love” from the double-platinum selling album of the same name.

Aug 26, 2014

WPP says clients more upbeat, sees weaker business in Russia

LONDON, Aug 26 (Reuters) – WPP, the world’s largest
advertising company, reported stronger than expected profit
growth on Tuesday and its founder said clients were growing more
confident about their business prospects.

Martin Sorrell said business was very strong in Russia in
the first half of 2014, but he expected it to weaken in the
second half as Western sanctions against Moscow over the
conflict in Ukraine start to bite.

Aug 19, 2014

Builder Persimmon says sales stay strong after 57 pct profit rise

LONDON, Aug 19 (Reuters) – British housebuilder Persimmon
Plc posted a 57 percent profit rise and said it was
trading ahead of last year in the traditionally slower summer
period, having seen little evidence so far of a recently flagged
slowdown in the housing market.

Its shares jumped to a five-month high before giving up most
of the gains to trade up 0.5 percent at 1,342 pence by 0853 GMT.

Aug 14, 2014

Undeterred Carillion pushes case for Balfour merger

LONDON (Reuters) – British construction firm Carillion told Balfour’s shareholders a merger would deliver 175 million pounds in cost savings a year, hoping to get them on side after its UK target twice spurned its approaches.

Balfour Beatty has rejected two takeover proposals by Carillion to create a 3 billion pound ($5 billion) group better placed to compete for major international contracts against the likes of Spain’s Ferrovial. Carillion now has until Aug. 21 to make a final offer.

Aug 13, 2014

Bank of England slashes wages forecast, says key for policy

LONDON, (Reuters) – The Bank of England slashed its forecast for wage growth on Wednesday and said that how fast wages picked up would be key to determining the timing and pace of interest rate rises.

Just an hour after official data showed British average wages suffered a year-on-year fall in the second quarter of 2014, the BoE cut its forecast for wage growth this year in half to 1.25 percent before picking up more strongly in 2015.

Aug 12, 2014

Ladbrokes says had good World Cup after online woes

LONDON, Aug 12 (Reuters) – Ladbrokes said it had a
strong World Cup, laying the foundations for a better second
half after disruption caused by switching its online operations
to a new platform caused first-half operating profit to fall by
a third.

Britain’s second-biggest bookmaker after William Hill
has struggled to establish its online presence and an
alliance with software developer Playtech has taken
longer than expected to deliver improvements.

Aug 8, 2014

Britain’s troubled Co-op proposes far-reaching board reforms

LONDON, Aug 8 (Reuters) – Co-op Group, Britain’s
largest mutually-owned organisation, has put forward detailed
proposals for governance reforms that it has said are necessary
to secure its future.

The supermarkets-to-funerals group agreed in principle to
change the way it was managed in May after a series of
near-catastrophic mistakes culminated in a 2.5 billion pound
($4.2 billion) loss last year.

Aug 5, 2014

Inmarsat says Proton delay will hold up new network

LONDON, Aug 5 (Reuters) – British satellite company Inmarsat
said the global implementation of its new communications
network would be delayed by as much as six months as its Russian
launch provider Proton recovers from a failure.

Chief Executive Rupert Pearce said the delay came as no
surprise after the most recent failure of a Proton rocket, the
workhouse of the satellite industry, in May.