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May 29, 2015

Equinix to buy TelecityGroup for $3.6 billion, Interxion deal ended

LONDON/NEW YORK (Reuters) – U.S. data center company Equinix Inc (EQIX.O: Quote, Profile, Research, Stock Buzz) said on Friday it would buy British peer TelecityGroup (TCY.L: Quote, Profile, Research, Stock Buzz) in a deal worth 2.35 billion pounds ($3.6 billion) that would also end Telecity’s pursuit of a smaller European rival.

Telecity, which runs computer centers that process traffic on the Internet, said in a statement its board had recommended Equinix’s offer, and as such was terminating an all-stock deal to buy Netherlands-based Interxion Holding NV (INXN.N: Quote, Profile, Research, Stock Buzz) for $2.2 billion.

May 28, 2015

UK first-quarter growth sapped by surge in imports

LONDON (Reuters) – Britain sucked in imports in the first three months of 2015, and its large services sector performed weaker than first thought, casting doubt over the strength of its previously robust recovery.

The economy grew 0.3 percent in the first quarter, the Office for National Statistics said on Thursday, confirming an initial estimate which the Bank of England and most other economists had thought too gloomy.

May 27, 2015

Focus turns to Ryanair as IAG looks to seal Aer Lingus deal

LONDON (Reuters) – After securing approval of the Irish government for its takeover offer for Aer Lingus (AERL.I: Quote, Profile, Research, Stock Buzz), British Airways-owner IAG (ICAG.L: Quote, Profile, Research, Stock Buzz) must now seek the backing of the Irish airline’s other major shareholder, Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz), to seal the deal.

The Irish government on Tuesday agreed to sell its 25 percent stake in Aer Lingus, removing an obstacle that had stalled the 1.36 billion euro ($1.48 billion) deal for months, after IAG gave reassurances on jobs and routes.

May 20, 2015

Facing media storm, Thomas Cook express regret for death of children

LONDON (Reuters) – Travel firm Thomas Cook (TCG.L: Quote, Profile, Research, Stock Buzz) expressed regret on Wednesday for the deaths of two British children on one of its holidays in 2006, seeking to end damaging headlines over its handling of the case.

Social media users have this week called for a boycott of the company following reports that the parents of the children had not received an apology and that the company had received more in compensation for the children’s deaths than their parents.

May 19, 2015

Unilever names Pitkethly finance chief as Huet quits

LONDON, May 19 (Reuters) – Unilever, the
Anglo-Dutch maker of Dove soap, Lipton tea and Ben & Jerry’s ice
cream, said Chief Financial Officer (CFO) Jean-Marc Huet would
quit later this year and would be succeeded by UK Vice President
Graeme Pitkethly.

The company said on Tuesday that Pitkethly, 48, who has been
at the company since 2002, would take up the CFO role on Oct. 1,
with Huet staying until that time to ensure an orderly
transition.

May 15, 2015

Ofcom wants to open up BT’s business fibre network

LONDON (Reuters) – Britain’s telecoms regulator Ofcom said BT’s fibre network should be opened to other operators to improve competition in high-speed data links for large businesses and mobile and broadband companies.

Ofcom’s proposals concern the 2 billion pound market for dedicated leased lines that are used by companies as well as universities, schools and other public bodies to move around large amounts of electronic information.

May 15, 2015

UK telecom regulator wants to open up BT’s business fibre network

LONDON, May 15 (Reuters) – Britain’s telecoms regulator
Ofcom said BT’s fibre network should be opened to other
operators to improve competition in high-speed data links for
large businesses and mobile and broadband companies.

Ofcom’s proposals concern the 2 billion pound ($3.2 billion)
market for dedicated leased lines that are used by companies as
well as universities, schools and other public bodies to move
around large amounts of electronic information.

May 15, 2015

SABMiller buys Meantime to quench thirst for craft beer

LONDON, May 15 (Reuters) – SABMiller is buying
Britain’s Meantime Brewing Company, snapping up one of the
pioneers of craft brewing to give the owner of big brands such
as Peroni and Grolsh exposure to a fast-growing part of the
drinks market.

A surge in demand for craft beers in recent years has stolen
market share from the world’s two biggest brewers, SABMiller and
Anheuser-Busch InBev, as consumers seek a more
authentic taste and support niche, local suppliers.

May 13, 2015

TUI Group to retire Thomson holiday brand in post-merger shake-up

LONDON/BERLIN, May 13 (Reuters) – TUI Group, the
world’s largest leisure and tourism company, expects annual
profit growth of more than 10 percent over the next three years
and said it will retire the Thomson brand in Britain as part of
its post-merger shake-up.

In its first strategy update since last year’s merger of
London-listed TUI Travel and German owner TUI AG, the
company said it is also confident of meeting this year’s target
for profit growth of up to 15 percent.

May 12, 2015

easyJet warns on third quarter, share price falls

LONDON, May 12 (Reuters) – British airline easyJet
said it faced tougher business conditions in the third quarter,
citing the cost of strike-related disruption and an expected dip
in underlying revenue in a warning that sent its shares down 8
percent.

Europe’s No. 2 low-cost carrier behind Ryanair said
it was positioned to continue to grow in this financial year,
which runs to September, after it turned a profit in the weaker
winter season for the first time.