Paul's Feed
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.

Jul 30, 2014

World Cup helps ITV to first-half earnings beat

LONDON, July 30 (Reuters) – ITV Plc, the British
commercial broadcaster that has caught the eye of pay-TV group
Liberty Global Plc, posted a higher-than-expected 11
percent rise in first-half adjusted earnings, helped by the draw
of the soccer World Cup.

John Malone’s Liberty, owner of British cable TV group
Virgin Media, bought a 6.4 percent stake in the broadcaster
earlier his month from satellite broadcaster BSkyB.

Jul 25, 2014

Vodafone revenue dragged lower by Spain and South Africa

LONDON (Reuters) – Vodafone (VOD.L: Quote, Profile, Research, Stock Buzz) reported another big quarterly drop in its main revenue measure, as weakness in South Africa and Spain offset stabilization elsewhere in Europe, and said a broader improvement is not expected until later in the year.

The world’s second-biggest mobile operator is ramping up spending on new, faster 4G networks to satisfy customers’ growing appetite for data.

Jul 23, 2014

TalkTalk attracts 185,000 new customers to its family TV offer

LONDON, July 23 (Reuters) – British broadband provider
TalkTalk added 185,000 subscribers to its TV service in
its first quarter, taking its base to more than 1.1 million and
helping revenue rise 3.1 percent to 434 million pounds ($741
million).

The company, which serves the value segment of the market,
is selling more services such as TV and mobile to the 4.1
million broadband customers on its network to boost revenue.

Jul 22, 2014

Design licensing rescues ARM earnings as smartphone chip royalties droop

LONDON (Reuters) – ARM Holdings posted a 9 percent rise in second-quarter profit as licensing of its processor technology compensated for a slowdown in high-end smartphone sales that decimated growth in royalties.

The Cambridge-based company, which sells blueprints for chip designs and receives royalties on every chip shipped by partners such as industry leader Taiwan Semiconductor Manufacturing Co, reported pre-tax profit of 94.2 million pounds ($161 million) on revenue also up 9 percent to 187.1 million pounds, both beating analysts’ expectations.