UK News


bankofengland-042314.jpg Policymakers of the Bank of England unanimously decided to maintain the key bank rate at a historic low of 0.50 percent and monetary stimulus at GBP 375 billion, the minutes showed Wednesday. Members said economic recovery is building momentum, but they had a range of opinions about the amount of slack remaining within the economy and medium-term inflation outlook.

UKbudget-deficit-042314.jpg U.K. Chancellor George Osborne achieved his budget deficit target for 2013/14 as buoyant economic growth boosted tax receipts. Data from the Office for National Statistics on Wednesday showed that net borrowing totaled GBP 107.7 billion in the fiscal year ended March 2014, the lowest since the 2008/2009 financial crisis.

ReedElsevier-042314.jpg Anglo-Dutch publishing and events company Reed Elsevier Plc. Wednesday said its first-quarter underlying revenue growth rates, excluding the impact of biennial exhibition cycling, were broadly consistent with 2013. The company also said its fiscal 2014 outlook remains unchanged.

ARM-042314.jpg ARM Holdings Plc Wednesday reported higher first-quarter profit, as revenues grew 10 percent on demand for its technology licensing. Looking ahead, the company said its pipeline of licensing opportunities remains healthy for the second quarter and the rest of the year.

AssociatedBritishFoods-042314.jpg Associated British Foods Plc. (ASBFY.PK, ABF.L), owner of the Primark retail chain, Wednesday reported increased profit for the first half of the year, despite a fall in sales, as strong performances from Primark and Grocery, and improvement at Ingredients more than offset a substantially lower profit from Sugar. The stock advanced over 8 percent in early morning trade.

Eli-Lilly-Acquire-Novartis-Animal-Health-042214.jpg Swiss drug maker Novartis AG (NVS) Tuesday said it has reached a definitive agreement with GlaxoSmithKline Plc. (GSK, GSK.L) to exchange certain assets. Separately, the company announced a definitive agreement with Eli Lilly and Co. (LLY) to divest the Animal Health Division for $5.4 billion, to further focus its portfolio on the innovative pharmaceuticals, eye care and generics.