Cable & wireless communications (CWC), the No. 1 cable TV provider in Britain, will be carved up by its parent company and rival NTL Inc., under a deal announced in London. Using an infusion of new investment cash from France Telecom, NTL will pay $13 billion for CWC's residential service and rename the unit ConsumerCo. NTL also hinted of other deals to further consolidate the British cable-TV market, but said none were imminent. CWC's business services will be absorbed by parent Cable & Wireless Plc. for about $5 billion. Until last week, CWC had been negotiating a merger with Britain's other major cable provider, Telewest Communications.
Trade sanctions sought by the US and Canada against the European Union in a row over hormone-treated beef were formally authorized by the World Trade Organization's Dispute Settlement Body. Officials said a total of $124.3 million of EU food exports would be targeted following the decision, the latest in a series of reverses for the EU in transatlantic trade disputes.
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