Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
WPP raises full year forecast April 27, 2012 WPP, the world’s largest advertising group, nudged its full-year outlook higher after strong growth in Asia Pacific and Latin America got the group off to a solid start to 2012. Martin Sorrell’s firm said revenues on a like-for-like basis were up four percent in the first quarter and said it now expected full-year revenues to [...]
LONDON REPORT April 22, 2012 UK investors are set for a busy week with a slew of earnings both here and on Wall Street, the release of Britain’s quarterly GDP rate and a decision from the Fed on the US Bank rate. Both the Nationwide Housing Prices report and Nationwide Consumer Confidence report are due out this week and today’s [...]
Goldman to sell Petershill stake April 19, 2012 Goldman Sachs is in talks to sell its Petershill Fund, a portfolio of hedge fund assets that the bank has run for the past five years. The fund was set up and run until last year by Jonathan Sorrell – the son of WPP’s Sir Martin Sorrell – who left last year in a high-profile [...]
Olympics and US elections good for Aegis March 15, 2012 AEGIS said this year’s London Olympic Games and US presidential election will further boost the marketing and advertising company after a year which saw profits rise by 32 per cent. This year’s public events, including the Euro football championship, will grow global ad spend by six per cent according to Aegis subsidiary Carat. While the UK [...]
Boris begs Prudential to stay March 5, 2012 BORIS Johnson has written to the chief executive of Prudential in a bid to convince the insurance giant to keep its headquarters in London, City A.M. has learned. The Mayor sent the letter to Tidjane Thiam last Friday, following the revelation that Prudential was considering moving its headquarters to Hong Kong to avoid tough new [...]
A record year takes WPP to profit of £1bn March 1, 2012 THE WORLD’S biggest advertising company yesterday posted a record year as WPP’s pre-tax profits hit the £1bn milestone in 2011, a growth of 18 per cent on the year before. The British company generated revenues of an unprecedented £10bn, up 7.4 per cent on 2010, and said it expects to generate more in 2012 thanks [...]
DOES WPP HAVE A BRIGHT FUTURE? March 1, 2012 LORNA TILBIAN NUMIS We have long been supportive of WPP management’s focus on digital and emerging markets. Digital now accounts for 30 per cent of group revenues (with a five year target of 35-40 per cent), and absolute digital revenues are $4.6bn, well ahead of the nearest competitor at $2.5bn. We believe that, as the [...]
FTSE lifted by strong corporate results March 1, 2012 The FTSE 100 edged up this morning led by the financial and energy sectors, while heavyweights WPP and Man Group reporting strong results. London’s blue chip index gained despite losses in the US and Asia triggered by the Fed failing to signal and more stimulus measures and mixed economic data out of China. Factory figures [...]
FTSE lifted by strong corporate results March 1, 2012 The FTSE 100 edged up this morning led by the financial and energy sectors, while heavyweights WPP and Man Group reporting strong results. London’s blue chip index gained despite losses in the US and Asia triggered by the Fed failing to signal and more stimulus measures and mixed economic data out of China. Factory figures [...]
WPP profits rise as it awaits Olympics boost March 1, 2012 WPP, the world’s largest ad group, posted a better-than-expected 19 rise in 2011 profit, and reaffirmed its targets for 2012, when it will benefit from the Olympics, European Soccer Championships and the US presidential election. The company, whose portfolio includes Young & Rubicam, Ogilvy & Mather, and Group M, posted headline pretax profit of £1.229bn [...]