The week in brief June 16, 2014 Instagram rolls out ads in UK, Canada and Australia Facebook’s photo and video-sharing service Instagram last week announced that it will introduce advertising in the UK, Canada and Australia, after a successful trial in the US last year. The service claims 200m users worldwide, with just 34.9m based in the US according to advertising consultancy [...]
WPP swoops for South African digital agency The Hardy Boys June 11, 2014 ADVERTISING giant WPP yesterday announced it had taken a majority stake in South Africa-based creative ad and brand building agency The Hardy Boys for an undisclosed sum. The deal, made through WPP’s global marketing communications agency JWT, will see The Hardy Boys bring its client list, including Diageo and Unilever, over to JWT. “This investment [...]
WPP swoops for London-based Precise Media to boost Kantar June 10, 2014 MARTIN Sorrell’s WPP yesterday announced the takeover of London-based media monitoring firm Precise for an undisclosed sum. The deal, made through WPP’s data investment management arm Kantar Media, will see Phoenix Private Equity sell the firm it bought in 2006 from 3i for £42m. “This acquisition strengthens the global expertise of Kantar Media in delivering [...]
WPP branches out into India June 5, 2014 ADVERTISING giant WPP announced yesterday that its wholly owned partners, Bates CHI&Partners, had agreed to acquire the business and assets of Temple Advertising Private, a boutique advertising agency based in Bangalore, India. Founded in 2004 and employing about 40 people, Temple Advertising Private has worked with leading Indian brands in the media, entertainment, automotive and real estate [...]
Brutal simplicity June 1, 2014 Liam Ward-Proud talks to M&C Saatchi worldwide chief executive Moray MacLennan BORN of an unhappy schism at Saatchi & Saatchi (brothers Maurice and Charles were forced out by the board in 1995), M&C Saatchi has since overtaken its near-namesake in the agency pecking order. UK billings were down 7 per cent in 2013 to £188m [...]
Google takes a bite out of Apple as world’s most valuable brand May 20, 2014 GOOGLE has dethroned Apple as the world’s most valuable brand, as its total value soared to nearly $160bn (£95bn) this year, according to new global research. The online search giant’s rise is due to its booming financial performance – Google’s revenues last quarter grew nearly 20 per cent to $15.42bn – and Apple’s lack of [...]
Perform revenues up by a third May 8, 2014 Digital sports media group Perform yesterday posted a 32 per cent increase in revenues to £56.9m, helped by new Watch And Bet contracts, which offer bookmakers live streaming of sports events. The firm also said Ashley Milton, who currently works for WPP, will be its new chief financial officer.
WPP’s Sorrell tops FTSE pay April 30, 2014 SIR MARTIN Sorrell, chief executive of advertising giant WPP, saw his remuneration package total nearly £30m last year. The package awarded, the highest of any chief executive in the FTSE 100, soared 70 per cent from the £17.6m he received in 2012 to £29.8m in 2013. Sorrell’s basic pay actually fell 11 per cent to [...]
Best of the Brokers for 29 April 2014 April 28, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DIAGEO Credit Suisse has cut the drinks group from “outperform” to “neutral” with a target reduced from 2,200p to 1,950p. The broker has also lowered its profit forecast for the coming year by eight per cent to reflect weaker growth in the US and emerging [...]
Sterling’s enduring strength: Not the bad news some fear April 28, 2014 A strong pound brings opportunities for the discerning trader NEWS of a stronger pound is often accompanied by alarmist warnings over the consequences for the UK economy. Entrepreneur and economist John Mills has recently campaigned for a devaluation of sterling to boost British manufacturing competitiveness in the long term. And many fear that a stronger [...]