Paul's Feed
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.

Jul 18, 2014

Vatican dispute sheds light on HP case in troubled Autonomy deal

By Nadia Damouni and Paul Sandle

(Reuters) – The Vatican has become enmeshed in a struggle between Hewlett-Packard Co (HPQ.N: Quote, Profile, Research) and Michael Lynch, the former CEO of the UK software company Autonomy Corp bought by HP in 2011 in a deal that led to a big loss for the U.S. technology giant.

An argument over the proposed use of Autonomy’s software to help digitise the Vatican’s library potentially lends support to HP’s accusation that Autonomy booked sales even when the intended end user had not decided to buy the software.

Jul 18, 2014

Exclusive: Vatican dispute sheds light on HP case in troubled Autonomy deal

By Nadia Damouni and Paul Sandle

(Reuters) – The Vatican has become enmeshed in a struggle between Hewlett-Packard Co and Michael Lynch, the former CEO of the UK software company Autonomy Corp bought by HP in 2011 in a deal that led to a big loss for the U.S. technology giant.

An argument over the proposed use of Autonomy’s software to help digitize the Vatican’s library potentially lends support to HP’s accusation that Autonomy booked sales even when the intended end user had not decided to buy the software.

Jul 18, 2014

U.S. drugmaker AbbVie finally wins Dublin’s Shire with $55 billion deal

LONDON (Reuters) – U.S. drugmaker AbbVie (ABBV.N: Quote, Profile, Research, Stock Buzz) bought Dublin-based Shire (SHP.L: Quote, Profile, Research, Stock Buzz) on Friday in a 32 billion-pound ($54.7 billion) deal that will allow it to slash its tax bill by relocating to Britain.

The London-listed company, which makes expensive medicines to treat rare diseases, fought off four earlier bids from AbbVie until the U.S. firm raised its price to 52.48 pounds per share – made up of 24.44 pounds in cash and 0.8960 new AbbVie shares.

Jul 3, 2014

Balfour Beatty shares slump on engineering profit warning

LONDON, July 3 (Reuters) – British infrastructure group
Balfour Beatty said it would take another 35 million
pound ($60 million) hit to profits after trading in its
mechanical and electrical engineering division deteriorated.

Shares in the group opened down 16 percent at a more than
five-year low after the unscheduled warning, which came two
months after its last profit downgrade that resulted in its
chief executive stepping down.

Jul 2, 2014

Sports Direct shareholders approve Mike Ashley’s bonus scheme

LONDON, July 2 (Reuters) – Sports Direct’s Mike
Ashley could be in line for a multi-million pound payout from
the retailer he founded after shareholders backed a
controversial bonus scheme at the fourth time of asking.

Ashley, who owns 58 percent of the firm, receives no salary
or other bonus and did not vote on the scheme himself.

Jul 2, 2014

Blinkx warns on earnings after critical blog hits demand

LONDON, July 2 (Reuters) – Video search and ad group Blinkx
Plc cut its profit expectations on Wednesday, blaming
industry-wide concerns about the effectiveness of some kinds of
Internet advertising, compounded by a critical blog about the
company.

Shares in the British group, which were already trading at
less than half the level they were before the blog in January,
plunged more than 40 percent to a two-year low. They were
trading down 37 percent at 38.5 pence at 0748 GMT.