WPP brings General Electric Exec on board October 21, 2013 ADVERTISING giant WPP has appointed a former General Electric information chief to its board. Charlene Begley is one of the rising stars of General Electric, taking on an additional role as head of the company’s $8bn home and business unit in 2010.
London Report: GDP figures and housing prices reveal recovery October 20, 2013 GROSS domestic product (GDP) figures due on Friday are expected to reveal the UK’s solid recovery prospects, coupled with further good news from Nationwide and Rightmove housing figures earlier in the week. Analysts predict further improvement in the economy, with third quarter GDP expected to rise. “We expect GDP to rise 0.8 per cent quarter-on-quarter. [...]
WPP buys Chinese advertising firm as it chases growth targets October 15, 2013 ADVERTISING giant WPP has bought Chinese media agency IM2.0, it announced yesterday, as the group pushes towards its target of 40 per cent gains in fast-growth markets. IM2.0, which was established in 2008 and counts Dell, Adidas and China Merchant Bank among its clients, had revenues last year of over 72m yuan (£7.4m). IM2.0 employs [...]
What the other papers say this morning – 08 October 2013 October 7, 2013 FINANCIAL TIMES Hedge fund DE Shaw limits investors One of the most profitable hedge funds has closed its doors to new clients, calling time on the industry’s ability to square vast inflows of money with the promise of market-beating returns. DE Shaw’s move means that of the largest six, only Man Group and Och-Ziff, are [...]
The Nominations: A very warm welcome to the shortlists for the City A.M. awards 2013 September 8, 2013 TODAY we kick off the countdown to this year’s City A.M. Awards with the first of the shortlists for an event that has rapidly established itself as a highpoint in the annual calendar. Our awards, now in their fourth year, celebrate all of the City’s main sectors and the people that make sure London remains [...]
WPP shrugs off competition and raises revenue growth forecast August 29, 2013 THE WORLD’S largest advertising group, WPP, reported a 19 per cent rise in pre-tax profits yesterday, on revenues of £5.33bn. The London-based company made pre-tax profits of £637m in the first half of 2013, up from £570m in 2012. WPP is soon expected to lose its title as the world’s biggest advertising firm due to an [...]
WPP profits rise but concerns linger about “grey swan” events August 29, 2013 Advertising agency WPP has seen pre tax profits rise by 19.4 per cent to £524m in the first half of 2013, but concerns for the future remain, and WPP's "operating companies remain cautious" (release). Yet again the firm's management refer to the chance of "grey swan" events. Here are the four they have in mind: [...]
London Week Ahead: Mark versus market in first public speech August 26, 2013 BANK of England governor Mark Carney’s keynote lunch speech to business leaders in Nottingham tomorrow has already been dubbed “Mark versus Market” – with market watchers dubious about Carney’s claims for long-term low interest rates. Rob Wood, economist at Berenberg Bank, said: “Growing momentum in the economy, rapidly rising house prices, and wide disagreements on [...]
WPP subsidiary acquires majority stake in online rival August 19, 2013 Corporate communications agency Addison, a wholly-owned subsidiary of British advertising giant WPP, announced this morning it has acquired a majority stake in Emaxol, the holding company of online rival IR Group (release). IR Group (“The Group”) employs 65 people and specialises in designing, building, hosting and developing corporate websites and digital consulting services. Clients include [...]
Inside Track: Lord Davies still in the running for both RBS and Lloyds August 7, 2013 LORD Davies, the former trade minister and one of the City’s most distinguished bankers, is not a man who gives up easily. So it must have been galling that the share price of Lloyds Banking Group has put on a gallop in recent weeks, faster than the famous black stallion that adorns its logo. Project [...]