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Aug 22, 2014

For some history enthusiasts, World War One tributes go further

LONDON, Aug 22 (Reuters) – For some people fascinated by
World War One, the poppies and wreath-laying of Remembrance day
services and the commemorative events of solemn anniversaries
like this year’s centenary are not enough.

Lawrence Taylor, a 55-year old businessman, is one of them.
He is part of a group of people across Britain who spend their
weekends paying tribute to the Great War fallen.

Aug 20, 2014

Northrop Grumman sees European interest in Hawk surveillance drone

LONDON (Reuters) – U.S. defense company Northrop Grumman Corp is in talks about selling its high-altitude surveillance drones in Europe, with Britain, Germany and Norway seen as the likeliest customers, a top executive said on Wednesday.

Northrop developed the original Global Hawk unmanned aircraft for the U.S. Air Force and it has been used extensively over Afghanistan, Iraq and Libya. The company has subsequently sought to sell versions of the Hawk to other countries.

Aug 19, 2014

UK inflation falls more than expected, reduces chance of 2014 rate rise

LONDON (Reuters) – British inflation eased more than expected in July and the pace of house price growth slowed in June, according to data that underscored the Bank of England’s message that it is in no rush to hike interest rates.

Consumer prices rose 1.6 percent on the year in July, the Office for National Statistics said on Tuesday, down from a five-month high of 1.9 percent in June.

Aug 8, 2014

TUI Travel on track after third-quarter profits jump 21 percent

LONDON (Reuters) – TUI Travel (TT.L: Quote, Profile, Research, Stock Buzz), Europe’s biggest tour operator by revenues, looks on track to meet its annual profit growth goal after a 21 percent jump in third quarter profits, powered by sales of higher-margin holidays.

The British company is currently in talks with its 55 percent owner, Germany-based TUI AG (TUIGn.DE: Quote, Profile, Research, Stock Buzz), regarding a merger deal worth around 4.4 billion pounds ($7.5 billion) which would create the world’s largest leisure tourism group.

Aug 8, 2014

TUI Travel on track after Q3 profits jump 21 pct

LONDON, Aug 8 (Reuters) – TUI Travel, Europe’s
biggest tour operator by revenues, looks on track to meet its
annual profit growth goal after a 21 percent jump in third
quarter profits, powered by sales of higher-margin holidays.

The British company is currently in talks with its 55
percent owner, Germany-based TUI AG, regarding a
merger deal worth around 4.4 billion pounds ($7.5 billion) which
would create the world’s largest leisure tourism group.

Aug 7, 2014

Cobham reassures on 2015 growth as defence cuts hit this yr

LONDON, Aug 7 (Reuters) – British defence company Cobham
said growth would return in 2015 as it maintained its
outlook for declines this year, with U.S. military spending cuts
and currency headwinds lowering its half-year profit by 14
percent.

Western defence firms are being squeezed as their biggest
customers in the United States and Europe reduce spending amid a
withdrawal from Afghanistan and Iraq, prompting firms like
Cobham to look to new sectors and markets.

Aug 5, 2014

Meggitt downgrades outlook as military spending falls

LONDON, Aug 5 (Reuters) – British aircraft parts supplier
Meggitt lowered its full-year expectations for organic
revenue growth due to bigger than expected declines in U.S.
military spending and challenges in its energy business,
knocking up to 8 percent off its shares.

The downgrade is Meggitt’s second in nine months. Last
November it cut 2013 guidance to low single-digit percent
organic revenue growth from mid-single digit growth. The company
said on Tuesday it now expects organic revenue growth in the low
single digits for 2014, from the mid-single digit level.

Jul 31, 2014

Rolls-Royce says 2014 on track, to return to growth next year

LONDON, July 31 (Reuters) – Aero-engine maker Rolls-Royce
said it was on track to return to growth next year, after
profits fell as expected in the first half due to shrinking
defence spending, a strong pound and a struggling marine
business.

The company kept its guidance for profit excluding foreign
exchange movements to be flat this year, reassuring investors
who were fearing an unpleasant surprise.

Jul 29, 2014

GKN confident as auto unit growth offsets currency hit

LONDON, July 29 (Reuters) – British engineering company GKN
said it was confident regarding the rest of 2014 after
its car parts supply division on Tuesday boosted first-half
profits, prompting a 6 percent jump in its shares.

GKN posted a 6 percent gain in pretax profit to 296 million
pounds ($502 million) for the six months to June 30, in line
with expectations, and said it would raise its interim dividend
by 8 percent to 2.8 pence per share.

Jul 24, 2014

easyJet profit forecast disappoints market, shares fall

LONDON, July 24 (Reuters) – Low-cost airline easyJet
forecast annual profit growth of between 14 percent to 19
percent on Thursday, tempering market forecasts set at the top
end of the range and sending its shares down 4 percent.

Providing its first guidance on full-year profit, easyJet
said it saw pretax profit for the 12 months to the end of
September in a range of 545 million to 570 million pounds
($928.5-971.1 million), factoring in the impact of political
events in Israel, Egypt and Russia.