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Oct 17, 2014

Rolls-Royce says profit will not rise next year

LONDON, Oct 17 (Reuters) – British engineer Rolls-Royce
warned on Friday that deteriorating economic conditions
meant profits would not rise next year as previously forecast.

The revised outlook, released three days earlier than
expected, knocked more than 8 percent off the company’s shares,
sending them to their lowest level since December 2012.

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 8, 2014

Dutch firm Abellio wins Scottish rail contract

LONDON, Oct 8 (Reuters) – Dutch-owned company Abellio Group
has won a 6 billion pound ($9.7 billion) contract to run rail
services in Scotland for the next 10 years, replacing
Scottish-based FirstGroup which has recently missed out
on a number of contracts.

The ScotRail award expands the reach of Abellio, the
international arm of state-owned Dutch rail company NS, in
Britain. Several other British rail contracts are in the hands
of international companies.

Oct 6, 2014

Britain’s Virgin Atlantic to shut Little Red domestic services

LONDON, Oct 6 (Reuters) – Britain’s Virgin Atlantic Airways
is to close its Little Red domestic airline next year, it said
on Monday, less than two years after it was launched.

The airline, which is 51 percent owned by its founder,
British billionaire Richard Branson, and 49 percent owned by
U.S. carrier Delta Air Lines, said in a statement that
Little Red had “not been able to make a positive contribution”
to the company.

Oct 3, 2014

Britain threatens to ignore European Court of Human Rights rulings

LONDON (Reuters) – Britain will quit the European Court of Human Rights unless it agrees that the Westminster parliament has the final say over its rulings, according to pre-election plans detailed on Friday by Prime Minister David Cameron’s Conservative Party.

Cameron, who is seeking to counter the threat from the anti-European Union UK Independence Party in May’s national election, has said rulings by the European rights court had prevented Britain deporting suspected militants.

Oct 3, 2014

EasyJet spurs hopes for special dividend after lifting profit forecast

LONDON, Oct 3 (Reuters) – British airline easyJet Plc
has spurred hopes of a lucrative reward to shareholders,
giving an increased forecast for upcoming full-year earnings in
the latest indication of the success of its low-cost model.

EasyJet’s cheap fares have helped it and rival Ryanair
weather an increasingly competitive European short-haul
market, while traditional airlines have struggled to compete.

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

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.