The private equity group, Blackstone, sold half of its 57 per cent stake in the Cineworld, in a move that dragged shares in the British cinema chain down by 9 per cent. Blackstone sold the 50 per cent of its stake in the Cineworld, which runs 75 sites in Britain, for around £62.9 million.
Cineworld, which was created in 1995, said its half-year profits soared to £11.6 million, up by 33 per cent as compared with £8.7 million last year.
The Guitar Hero 5, which arrived without much pomp& show, has proved to be a very good music game.
The Guitar Hero 5 includes most tracks from the 1990s and current decade.
The Guitar Hero 5 proved to be very tough against The Beatles: Rock Band, which had entered the market around Beatlemania hype.
It may be noed here that the designers of the Guitar Hero 5, called Harmonix, are no longer involved in the franchise and now make a competing Rock band series for MTV instead.
The UK Atomic Energy Authority said agreed to sell its wholly-owned commercial arm, UKAEA Ltd., to the defence and energy support services firm Babcock International in a deal worth £50 million.
UKAEA Ltd., which oversees nuclear clean-up work at three sites in Britain and provides consultancy services worldwide, has a workforce of around 230 people.
Sony has slammed the BBC Watchdog report on the PlayStation 3 consoles and the alleged high rate of hardware failure known as "Yellow Light of Death".
The BBC's consumer rights show Watchdog claimed that PS3s suffered from inherent hardware problems the company was not satisfying its customers by fixing those problems.
During the show Watchdog team also provides Sony with a technical report for three PS3s which had succumbed to hardware failure.
British government has proposed to overhaul the so called draconian libel laws to update them for the internet age.
Some parts of existing laws on defamation dates back to 1840s and allow a claim every time a libel is published. That means someone could claim for libel every time a web page is accessed.
The secretary of state for justice, Jack Straw, said, "Existing defamation law needs to be updated so it is fit for the modern age, and it is important we listen to views on the best way to achieve this."
Britain's biggest builder, Balfour Beatty, said Thursday that it would acquire the US professional services business Parsons Brinckerhoff in a deal worth $626 million. London-based Balfour Beatty said it would fund the purchase of Parsons Brinckerhoff through a £353 million rights issue.
The deal will help the British builder in expanding its business in Australia, China, India and South Africa.
UK retail sales flattened in August from July as shoppers remained close fisted due to soaring unemployment and gloomy economic conditions.
Data compiled by the Office for National Statistics revealed that annual rate of rise in retail sales dropped to 2.1 per cent in August as compared with 2.9 per cent in July.
However, retail sales in August soared 2.1 per cent in august as compared with the same period of 2008.
The monthly increase of 0.2 per cent in retail sales was worse than analysts' projections of 2.8 per cent annual increase.
British bank Barclays PLC has sold $12.3 billion of its most toxic assets to Protium Finance, which is registered in the Cayman Islands and will be run by two former executives from Barclays, viz. Stephen King and Michael Keeley.
Protium Finance is supported by US$450 million of new funding and a $12.6 billion loan from Barclays.
Some 45 investment bankers of Barclays have relinquished their positions to form an asset manager called C12 Capital Management that has contract with Protium. Barclays will pay a $40m annual management fee to Protium Finance.
Freesat, the subscription-free digital satellite TV service, said it has sold 600,000 decoders so far since May 2008, when it was launched in UK.
Freesat witnessed a jump of 50 per cent in its cumulative sales from 40,000 in May to 60,000 this month, becoming UK's fourth biggest digital TV.
Freesat, which brings 140 channels plus services to households throughout the nation, was launched by BBC and ITV.
The platform will play a vital role in bringing digital TV to homes across the UK.
The so-called 'notspots' in UK, where the broadband service is still a dream, are going to get an access to broadband via Broadband Enabling Technology initiated by BT.
At present, approximately 140,000 homes come under the jurisdiction of notspots and BT will bring up to 2MB broadband to these places.
Speaking on the topic, John Small, MD of service delivery at BT, said, 'By rolling out BET, we can help customers and assist the Government to realise its aim for a universal 2Mbps broadband service."
The rate of joblessness in Britain soared to a record high of 7.9 per cent, the highest since 1995, reducing hopes of economic recovery.
Office for National Statistics said UK unemployment rose by 210,000 to 2.47 million during the quarter ended July.
The number of claiming unemployment benefits stretched beyond expectations as claims increased by 24,000 in August as compared with 1.61 million in July.
Feeble labor market points to a weak consumer outlook that could hit spending and impact country's economic growth adversely.
The Cortex-A9 processor, released on Wednesday by the British firm ARM Holdings, boasts an increased application performance, thanks to its ability of reaching a clock speed of up to 2GHz -- and possibly even beyond!
According to ARM claims, the new dual-core Cortex-A9 processor consumes only about 1.9 watts of power while running 2GHz. The processor not only surpasses the
1GHz speed of most of the ARM-based chips in the market, but also delivers a notably better performance than Intel's Atom N270 netbook chip that operates at 1.6GHz.
The US-based smartphone manufacturer, Palm, unveiled its Pre at a UK press event but could not become the star of attraction.
In addition, uncertainty about the release of Palm Pre in UK made the event a damp experience.
O2 that grabbed the exclusive right to provide network to Pre, has assured that the much-awaited smartphone would be available in the UK before Christmas.
Two GSM Palm Pre models that were reveled at the event were the pre-production models. The company did not allow photography of the models.
ITV, Britain's biggest commercial broadcaster, got a serious setback when the Competition Commission ruled that it would not end restrictions on how much ITV can charge advertisers.
However, the competition watchdog said that some of the rules could be modified for the changing market.
Speaking on the topic, Diana Guy, deputy chairman of the Competition Commission, said the advertising agencies were still not in a position to bargain.
Ofcom has scrapped restrictions on BT's consumer business, ending the last key constituent of regulation that was imposed on BT 25 years ago when the firm was privatized, citing increased competition.
Now BT will be able to start selling bundles of services such as landlines, broadband along with digital TV.
Speaking on the topic, BT's retail head Gavin Patterson said, "It is good news for consumers and businesses, as this will allow BT to offer more targeted discounts on products and services."