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Dec 16, 2014

Imagination Tech sees “significant” improvement ahead after profit fall

LONDON, Dec 16 (Reuters) – Imagination Technologies,
the British company that supplies graphics processing to Apple
Inc, said it expected an improved second half as costly
investments which weighed on the first months of the year begin
to pay off.

The cost of developing its MIPS processing platforms — a
computer processing architecture first developed in the 1980s –
and multimedia contributed to a 75 percent drop in adjusted
profit in the first half, the company said.

Dec 15, 2014

BT opts for EE over O2 for 12.5 billion-pound UK mobile deal

LONDON (Reuters) – BT (BT.L: Quote, Profile, Research) has entered exclusive talks with the owners of EE for a potential 12.5 billion-pound ($19.6 billion) acquisition deal to give the former UK state telecoms firm the top position in mobile as well as fixed line broadband services.

BT had been in competing talks with both the Spanish group Telefonica’s (TEF.MC: Quote, Profile, Research) rival mobile firm O2 and EE’s owners, Orange (ORAN.PA: Quote, Profile, Research) and Deutsche Telekom (DTEGn.DE: Quote, Profile, Research), putting the 168-year-old fixed line firm in a strong position in negotiating for a return to the consumer mobile market after 13 years away.

Dec 15, 2014

BT opts for EE over O2 for $19.6 bln UK mobile deal

LONDON, Dec 15 (Reuters) – BT has entered exclusive
talks with the owners of EE for a potential 12.5 billion-pound
($19.6 billion) acquisition deal to give the former UK state
telecoms firm the top position in mobile as well as fixed line
broadband services.

BT had been in competing talks with both the Spanish group
Telefonica’s rival mobile firm O2 and EE’s owners,
Orange and Deutsche Telekom, putting the
168-year-old fixed line firm in a strong position in negotiating
for a return to the consumer mobile market after 13 years away.

Dec 15, 2014

BBC and ITV could charge fees to pay-TV broadcasters, Ofcom says

LONDON (Reuters) – British broadcasters including the BBC and ITV could be allowed to charge cable and satellite pay-TV companies for carrying their channels, the media regulator said on Monday, potentially pointing to a major funding change in the sector.

Launching a consultation, watchdog Ofcom said the freedom to charge so-called retransmission fees would help compensate public service broadcasters (PSBs) for their costly obligations such as news provision.

Dec 15, 2014

BBC and ITV could charge fees to pay-TV broadcasters, UK watchdog says

LONDON (Reuters) – British broadcasters including the BBC and ITV could be allowed to charge cable and satellite pay-TV companies for carrying their channels, the media regulator said on Monday, potentially pointing to a major funding change in the sector.

Launching a consultation, watchdog Ofcom said the freedom to charge so-called retransmission fees would help compensate public service broadcasters (PSBs) for their costly obligations such as news provision.

Dec 12, 2014

Air traffic control failure disrupts flights over Britain

LONDON (Reuters) – Flights to and from London were severely disrupted on Friday by a technical failure at England’s main air traffic control center that forced authorities to limit access to the country’s airspace.

Flights in and out of Heathrow, which calls itself the world’s busiest international airport, were halted for at least an hour before it said operations were beginning to resume.

Dec 12, 2014

Tesco’s new boss looks to avoid nightmare before Christmas

LONDON (Reuters) – Dave Lewis, the new boss of Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz), Britain’s biggest grocer, is betting on a customer charm offensive coupled with selective price cuts to prevent poor Christmas trading compounding an already disastrous year for investors.

The group, like its big three UK rivals Wal-Mart’s Asda (WMT.N: Quote, Profile, Research, Stock Buzz), Sainsbury’s (SBRY.L: Quote, Profile, Research, Stock Buzz) and Morrisons (MRW.L: Quote, Profile, Research, Stock Buzz), has suffered as shoppers turn against the traditional big weekly hypermarket shop.

Dec 11, 2014

Superdry owner’s profit hit by warm autumn

LONDON (Reuters) – SuperGroup (SGP.L: Quote, Profile, Research, Stock Buzz), the owner of clothing brand Superdry, posted a 30 percent fall in first-half profit, a period when its summer ranges received a mixed reaction from shoppers and a warm autumn hurt sales of winter items.

The British group reported underlying pretax profit of 12.5 million pounds ($19.6 million) for the six months to Oct. 25, down from 17.9 million a year earlier, on revenue up 8.4 percent to 208.2 million pounds. Like-for-like sales fell 4.1 percent.

Dec 9, 2014

Bloomberg News names Economist editor to replace Winkler

NEW YORK (Reuters) – Billionaire news and information mogul Michael Bloomberg replaced the founding editor at his eponymous news service with Economist Editor-in-chief John Micklethwait, moving aggressively to broaden the one-time financial newswire beyond its core Wall Street audience.

Matthew Winkler, 59, the entrepreneurial and at times volatile leader of Bloomberg’s newsroom for 25 years, is stepping aside to become editor-in-chief emeritus. The announcement on Tuesday marks the latest shakeup since Michael Bloomberg, who served as New York’s mayor for three terms, said he would return to the helm of his company next year.

Dec 4, 2014

UK government targets multinationals that try to dodge taxes

LONDON (Reuters) – The UK government plans to introduce a tax to target multinationals such as Google and Amazon accused of using complex accounting schemes to cut their payments on earnings in the country.

Governments around the world are trying to overhaul international tax treaties to stop big corporates siphoning off profits into low-tax havens, but Chancellor minister George Osborne broke cover on Wednesday to announce his own changes next year.