BEST OF THE BROKERS July 2, 2009 WPP GROUPCitigroup has downgraded WPP to “sell” saying that a continuation on second quarter trends would suggest a 2009 full-year organic decline of 7.5 per cent and limited growth in 2010. The broker sees risk to the earnings and thinks that the first half results in August will be a negative catalyst, and lowers its [...]
London markets sag in the heat but Diageo refreshes July 2, 2009 THE FTSE 100 closed 2.5 per cent lower yesterday, with market sentiment hit by data showing US employers cut more jobs than expected in June and unemployment in Europe hit a 10-year high. The index ended down 106.44 points at 4,234.27 after closing 2.2 per cent higher on Wednesday, the first day of the new [...]
Ad spend to recover in 2010 June 24, 2009 Group M, part of media giant WPP, said yesterday that it expects global advertising spend to fall 5.5 per cent to £417bn in 2009, with a mild recovery expected in 2010 – when the decline should ease to 1.4 per cent. Based on a 70-country report, the group said that the ad market recovery would [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 21, 2009 THE SUNDAYSThe Sunday TelegraphBA CHIEF SNUBS SELECT COMMITTEEWillie Walsh, chief executive of British Airways, has refused to go before the House of Commons transport committee to give evidence on the future of aviation. The hearing, os scheduled for Wednesday next week – coincidentally the first day of the month that Walsh will work without pay [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 21, 2009 THE SUNDAYSThe Sunday TelegraphBA CHIEF SNUBS SELECT COMMITTEEWillie Walsh, chief executive of British Airways, has refused to go before the House of Commons transport committee to give evidence on the future of aviation. The hearing, os scheduled for Wednesday next week – coincidentally the first day of the month that Walsh will work without pay [...]
EXCLUSIVE: BoA MERRILL LYNCH BRAND June 17, 2009 BANK of America Merrill Lynch today unveils exclusively in City A.M. the new face of the entity created by the tie-up between the two banks. The logo marks the launch of an advertising campaign run by The Brand Union, part of media firm WPP, led by chief executive Sir Martin Sorrell. Chief marketing officer for [...]
WORST CITY FIRMS TO JOIN ROLL OF HONOUR June 14, 2009 FANCY awards dinners have a reputation for being duller than dishwater, so it’s refreshing to hear of an upcoming ceremony that aims to break the mould. That’s right: the Sharecrazy Worst Company of the Year awards are back by popular demand, having gone down a treat with frazzled City folk last time around at a [...]
FIRST WOMEN GATHER AT GALA TALENT SHOW June 11, 2009 THERE’S nothing a bunch of hard-working businesswomen like better than listening to one of their own knowing how to send herself up in style. So it should come as no surprise that the star of this year’s First Women Awards, held last night in the luxurious surroundings of the Marriott Grosvenor Square, was Deloitte veteran [...]
Oil stocks push FTSE 100 lower for second day in row June 3, 2009 THE large cap index lost 2.1 per cent yesterday, dented by weakness in commodity stocks, banks and index heavyweight Vodafone, which traded ex-dividend. At the close, the FTSE 100 was down 93.60 points at 4,383.42, albeit above the session low of 4,359.33. Oil producers were the standout losers, retreating after recent gains in line with [...]
WPP says media is battling to survive June 3, 2009 GROUP M, the media-buying arm of WPP, yesterday slashed its advertising revenue forecasts for the second time this year, warning that many household names in the media will struggle to make it through the recession. Group M said that UK media investment will fall by 14 per cent in 2009, a steeper fall than the [...]