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Oct 1, 2014

British financial watchdog to investigate Tesco accounting scandal

LONDON (Reuters) – Britain’s financial watchdog has launched a full investigation into the Tesco accounting scandal that has now wiped 4 billion pounds ($4.9 billion) from the troubled grocer’s stock market value.

Tesco, Britain’s biggest grocer and the world’s third-largest retailer, announced on Sept. 22 that it had overstated first-half profit by 250 million pounds – effectively its third profit warning in two months..

Oct 1, 2014

Babcock, BAE Systems win $5.2 billion UK naval contracts

LONDON (Reuters) – Babcock International and BAE Systems have won contracts worth a total of 3.2 billion pounds ($5.2 billion) to maintain British warships, submarines and naval bases for the next five years.

The agreements secured 7,500 jobs across Britain and represented the second biggest defense contract placed by the government since it took power in 2010, the Ministry of Defence (MOD) said in a statement on Wednesday.

Sep 30, 2014

Britain’s Daily Mail website hires Piers Morgan as U.S. editor-at-large

LONDON, Sept 30 (Reuters) – MailOnline, the website of
Britain’s Daily Mail tabloid, has hired Piers Morgan as its U.S.
editor-at-large, signing the outspoken journalist to the most
visited, and often controversial, English-language newspaper
website.

MailOnline, owned by Daily Mail and General Trust
and known for its articles and photographs of celebrities, said
on Tuesday that Morgan would write several times a week and
would start immediately.

Sep 30, 2014

Building supplier Wolseley hikes payout on U.S. boost

LONDON, Sept 30 (Reuters) – British plumbing and building
supplies group Wolseley said it would raise its dividend
by 25 percent and launch a share buyback, its third year in
three years, after strong trading in its U.S. business lifted
annual profit.

Wolseley said it would pay a final dividend of 55 pence per
share, bringing its full-year total to 82.5 pence per share, 25
percent higher than last year, and announced a 250 million
pound($405 million) share repurchase plan.

Sep 28, 2014

Britain’s Cameron loses second MP to anti-EU party

LONDON (Reuters) – A lawmaker from Britain’s ruling Conservative party defected to the anti-EU United Kingdom Independence Party (UKIP) on Saturday, dealing a blow to Prime Minister David Cameron on the eve of his party’s annual conference.

In more bad news for Cameron, an opinion poll showed voters view him slightly less favourably than UKIP leader Nigel Farage, and a junior minister resigned over a story in a Sunday newspaper that he had sent sexually explicit pictures of himself to an undercover reporter.

Sep 27, 2014

Cameron loses second MP to anti-EU party

LONDON (Reuters) – A lawmaker from Britain’s ruling Conservative party defected to the anti-EU United Kingdom Independence Party (UKIP) on Saturday, dealing a blow to Prime Minister David Cameron on the eve of his party’s annual conference.

In more bad news for Cameron, an opinion poll showed voters view him slightly less favourably than UKIP leader Nigel Farage, and a junior minister resigned over a story in a Sunday newspaper that he had sent sexually explicit pictures of himself to an undercover reporter.

Sep 26, 2014

Boeing Dreamliner flying from U.S. makes emergency landing in Scotland

LONDON/WARSAW, Sept 26 (Reuters) – A Boeing
Dreamliner flying from Chicago to Poland with 248 passengers on
board made an emergency landing at Scotland’s Glasgow airport on
Friday after crew received an alert from the fire protection
system in the baggage hold.

The Polish state airline LOT plane was cleared as safe and
the passengers allowed to disembark, an airport spokesman said.
More checks on the fire alarm were being carried out.

Sep 26, 2014

Britain’s De La Rue shares plunge after double profit warning

LONDON, Sept 26 (Reuters) – British banknote printer De La
Rue Plc has warned on profit for both the current and
next year and said it could cut its full-year dividend due to
lower contract prices, sending its shares plunging.

The warning wiped nearly 207 million pounds ($337.8 million)
off the company’s stock market value, with the shares trading
down 27 percent to 557.8 pence at 0808 GMT.

Sep 25, 2014

UK’s Mitchells & Butlers blames rainy August for scant sales growth

LONDON, Sept 25 (Reuters) – British pubs and restaurants
group Mitchells & Butlers blamed a relatively rainy
August and persistently weak consumer sentiment for meagre sales
growth in its final quarter, sending its shares down more than 5
percent.

The group said on Thursday underlying sales in the nine
weeks to Sept. 20 grew just 0.1 percent, compared with the 0.7
percent growth recorded in the 42 weeks to July 19, resulting in
annual underlying growth of 0.6 percent.

Sep 18, 2014

easyJet flags higher dividends, buys more planes

LONDON, Sept 18 (Reuters) – EasyJet is to pay more
of its profits out to shareholders via dividends in a sign of
the budget airline’s confidence in future growth.

The company, Europe’s second largest low-cost airline behind
Irish rival Ryanair, said on Thursday its dividend would
now amount to 40 percent of pretax profit, compared to the one
third it previously paid out to investors.