Paul's Feed
Oct 30, 2014

Artificial hips business boosts Smith & Nephew profit

LONDON, Oct 30 (Reuters) – Artificial knee and hip maker
Smith & Nephew posted an expected 3 percent rise in
third-quarter trading profit, as solid growth in orthopaedic
reconstruction offset a decline in its wound management business
due to a product recall.

“In U.S reconstruction, our better performance continued
with a second quarter at or above market growth, led by standout
growth in hips,” Chief Executive Olivier Bohuon told reporters
on Thursday.

Oct 24, 2014

Jilted Shire raises guidance again after earnings jump

LONDON, Oct 24 (Reuters) – Pharmaceutical firm Shire
raised its guidance for full-year earnings on Friday, lauding
its strong prospects as a standalone company after AbbVie Inc
this week officially ditched its $55 billion bid for
the group.

Shire’s shares, which had fallen back to the levels they
were trading at before AbbVie’s interest, were up 3.2 percent to
4,020 pence by 1229 GMT, making them the biggest gainer on the
FTSE 100 Index.

Oct 21, 2014

Chipmaker ARM’s upbeat message fails to allay concerns

LONDON, Oct 21 (Reuters) – British chipmaker ARM Holdings’
predictions of improving smartphone demand and
strengthening royalty growth met with a cool stock market
response after it fell short of third-quarter revenue
expectations on Tuesday.

The company that provides the technology that powers the
iPhone 6 pointed to Apple’s booming sales, but
investors will take more convincing over long-term prospects in
the face of slowing demand for high-end smartphones from the
likes of Samsung Electronics.

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.