UK

Even Google is confused on how much value it adds to the UK economy

US tech giant Google may not be paying taxes to Britain, but according to its latest report, it is contributing a great deal to UK's economy through the digital revenue made by local businesses in that nation through the search engine.

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Next Plc beats profit forecast; raises wages

Surpassing analysts' projections, UK retailer Next Plc posted better than expected results for the first half of 2015. The pretax profit rose 7.1 percent to GBP347million ($533MN) for the first half. Retail profit margins grew 14.9 percent from 14.1 percent during the previous corresponding period. The strengthening British pound also helped Next Plc improve profit margins.

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Deutsche Telekom looked at bidding for KPN in 2014

Deutsche Telekom considered making a takeover bid for Dutch rival KPN in 2014, with a view to expanding in neighboring countries, sources familiar with the matter said.

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Survitec buyout backed with $457 million of debt

Canadian private equity firm Onex’s buyout of UK safety and survival equipment maker Survitec will be backed with around 300 million pounds ($457 million) of leveraged loans, banking sources said on Wednesday.

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UK 'Google tax' will target inter-company payments

A new British tax on companies that shift profits out of the country and into tax havens will target inter-company fees for services like use of intellectual property, according to a Treasury document seen by Reuters.

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Canada's Onex in talks to buy UK survival firm Survitec

Canadian buyout firm Onex Corp (OCX.TO) is in talks to buy a UK safety and survival equipment maker from Warburg Pincus LLC [WP.UL] for about 450 million pounds ($704 million), Bloomberg reported, citing three people with knowledge of the discussions.

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Sharp considering sale of U.S. solar energy unit: Bloomberg

Sharp Corp (6753.T) is looking to sell its U.S.-based solar energy development unit Recurrent Energy, Bloomberg reported on Monday, as the Japanese firm winds down its involvement in the solar industry to focus on profitable businesses.

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Factory activity in Europe, Asia cools; demand lull a concern

Factory activity in Europe and Asia cooled in August after a strong July, as new orders dwindled in the face of escalating tensions in Ukraine and a patchy recovery in China, purchasing managers indexes showed.

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iZettle dances with $55.5 million Series C round for Latin America and European Expansion

iZettle, Swedish mobile company, pockets $55.5 million in a series C round led by Zouk Capital with other participants such as Dawn Capital, Intel Capital, Creandum, Greylock, Index, Northzone, and SEB.

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French car rental startup Drivy secures $8.3M in funding for European expansion

Paris-l’hospital, France-based car rental startup Drivy secured $8.3 million (€6 million) in a new funding round with Index Ventures and Alven Capital as lead investors to fuel its expansion in Europe.

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British music app Bloom.fm shuts down after investor pulls funds

London, UK-based music streaming startup Bloom.fm announced via Twitter that it shut down right after it was banned from Apple's ad network and its sole investor, Russian TV channel TNT, pulled its fundings.

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London security firm CertiVox scores $8M in Series B financing

London, UK-based security firm CertiVox scored $8 million in its Series B financing from new investor NTT Docomo Ventures and previous backer Octopus Investments to expand its software-based alternative authentication platform.

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Amadeus picks up $4.5M stake in Brazilian insurance broker Bidu

London, UK-based venture capital firm Amadeus Capital picked up an undisclosed stake in Sao Paulo, Brazil-based online insurance broker Bidu.com for $4.5 million to take advantage of the growth in emerging markets.

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UK retail chain Poundstretcher shells out $1M to branch out to Zambia

Huddersfield, UK-based retail chain Poundstretcher shelled out $1 million to branch out to Zambia as it begins to beef up its presence in Africa and establish its name as an international brand.

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EmergeVest picks up controlling stake in UK chilled food distributor NFT

Hong Kong-based private equity firm EmergeVest picked up a controlling stake in Derbyshire, UK-based chilled and frozen food distributor NFT Distribution Operations for an undisclosed amount to expand its sales.

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