Paul's Feed
Oct 17, 2014

Rolls-Royce warns on profit again as economic growth slows

LONDON, Oct 17 (Reuters) – British engineer Rolls-Royce
warned on Friday that deteriorating economic conditions
meant its profit would not rise next year as previously
forecast, sending its shares plunging as much as 16 percent.

Rolls-Royce said the market for its main aircraft engine
business would strengthen but customers in the oil and gas,
mining, construction, industrial and agricultural sectors were
cancelling or delaying orders.

Oct 17, 2014

Vice Media to roll out local language services, eyes TV deal

LONDON (Reuters) – New York-based Vice Media, whose edgy reportage has proved a hit with young people, is launching local services in Germany, France, Italy, Spain, Australia, Brazil and Mexico over the next six months, and is working on a terrestrial television deal.

“We are going to be ramping out local language territories for news because there’s been such a thirst for it,” founder and Chief Executive Shane Smith told Reuters. “We are going to have a lot more local language domestic content in each of these territories.”

Oct 15, 2014

U.S. chipmaker Qualcomm hopes for knock-out blow with $2.5 billion CSR bid

LONDON/FRANKFURT (Reuters) – U.S. Qualcomm Inc (QCOM.O: Quote, Profile, Research, Stock Buzz) agreed to buy CSR Plc (CSR.L: Quote, Profile, Research, Stock Buzz) for $2.5 billion, offering what it hopes is a knock-out blow to win the British Bluetooth specialist which is growing in areas like automotive and wearable devices.

Qualcomm, the world’s number one mobile chipmaker, has agreed to pay 900 pence a share in cash for CSR, a 56.5 percent premium on the share price before the start of the offer period in August, CSR said on Wednesday.

Oct 15, 2014

AbbVie cools on $55 billion Shire deal after U.S. tax changes

LONDON (Reuters) – Chicago-based AbbVie (ABBV.N: Quote, Profile, Research, Stock Buzz) said it was reconsidering its $55 billion takeover of Shire (SHP.L: Quote, Profile, Research, Stock Buzz) weeks after the U.S. government moved to curb deals designed to reduce tax, wiping $13 billion off the London-listed firm’s stock price.

AbbVie said late on Tuesday it was responding to the U.S. proposals which aim to make it harder for American firms to shift their tax bases out of the U.S. and into lower cost jurisdictions in Europe.

Oct 14, 2014

Bellway positive on demand for new UK housing

LONDON, Oct 14 (Reuters) – Britain’s Bellway said it
expected to build about 685 more homes over the coming 12
months, reflecting its positive outlook for the property market,
after pretax profit for the year to end-July rose 75 percent.

The builder on Tuesday posted profit of 245.9 million
pounds ($393 million), against 140.9 million pounds a year
earlier, and ahead of analyst consensus of 237 million pounds.
It completed 6,851 new homes, up 21 percent on the year before.

Sep 23, 2014

Tate & Lyle shares plunge to 3-year low after profit warning

LONDON, Sept 23 (Reuters) – Tate & Lyle shares
tumbled to a three-year low after it cut its full-year profit
forecast, blaming fierce competition for its Splenda sweetener
and supply chain problems caused by a severe U.S. winter.

The British company, which sells ingredients to packaged
food and drinks makers, has had to renegotiate supply contracts
at lower prices to protect market share in the face of intense
Chinese competition.

Sep 17, 2014

Insight – Ignored and fed up, UK regions call for Scottish-style devolution

CAERNARFON/YORK (Reuters) – Scotland’s chance to vote for independence has lit hopes in other regions of Britain that a reworking of political ties might boost their chances of self-rule too.

London-based parliamentarians have been wrong-footed by a late surge of support among Scottish voters planning to say ‘Yes’ on Sept. 18, and their consequent hurried promise to award Edinburgh more economic decision-making if it stays part of the union is being eyed by Manchester, Yorkshire and Wales.

Sep 17, 2014

Ignored and fed up, UK regions call for Scottish-style devolution

CAERNARFON/YORK, Sept 17 (Reuters) – Scotland’s chance to
vote for independence has lit hopes in other regions of Britain
that a reworking of political ties might boost their chances of
self-rule too.

London-based parliamentarians have been wrong-footed by a
late surge of support among Scottish voters planning to say
‘Yes’ on Sept. 18, and their consequent hurried promise to award
Edinburgh more economic decision-making if it stays part of the
union is being eyed by Manchester, Yorkshire and Wales.

Sep 15, 2014

Micro Focus to buy The Attachmate Group in all-share deal

LONDON, Sept 15 (Reuters) – British mainframe computer
specialist Micro Focus International is to buy
privately-owned U.S. rival The Attachmate Group Inc in an
all-share deal valuing the firms’ combined capital and debt at
$2.35 billion.

Micro Focus said on Monday that following the reverse
takeover, its shareholders would own about 60 percent of the
equity in the new group which will be re-listed in London.

Sep 9, 2014

Culture Secretary to look into allowing free TV to charge re-transmission fees

LONDON (Reuters) – Culture Secretary Sajid Javid said on Tuesday he would examine whether Britain’s so-called public service broadcasters like ITV should be allowed to charge cable and satellite operators to carry their transmissions.

Channels from the publicly funded BBC and commercial PSBs are currently carried for no fee on the platforms of cable company Virgin Media and satellite broadcaster BSkyB, under rules that ITV and Channel 4 want changed.