Ogilvy names Piyush Pandey as new chief creative officer December 5, 2018 Ogilvy has appointed Piyush Pandey as its new chief creative officer following the dismissal of Tham Khai Meng over misconduct allegations. Pandey is currently the advertising agency’s chairman in India and has served at the company for over 30 years. He will retain his current duties in Mumbai and take over the new role on [...]
SMMT urges government to secure Brexit deal as car sales experience fresh decline December 5, 2018 A car industry trade body has called for the government to secure a Brexit deal as soon as possible to boost consumer confidence after new car sales in November fell again year on year. There were 158,639 new car registrations this November, down from 163,541 in November 2017, according to the Society of Motor Manufacturers [...]
Monzo ‘absolutely not’ the next Wonga, says founder amid high-cost loan speculation December 5, 2018 Monzo is “absolutely not” going to be the next Wonga, its founder has said, amid speculation the digital bank was planning to move into the high-cost loan space. Tom Blomfield, whose up-and-coming challenger bank this morning completed a landmark £20m crowdfunding round powered by its own customers, told City A.M. he was “categorically not working [...]
Philip Hammond confirms he will borrow more and look at tax changes in ‘no deal’ December 5, 2018 Philip Hammond has confirmed the government would be forced to borrow billions more and consider tax changes to counter the economic impact of no deal. Appearing before the Treasury Select Committee on Wednesday, the Chancellor said the onus would be on the government to keep blood in the veins of the economy as the Bank of [...]
Crossrail boss Terry Morgan resigns after Sadiq Khan spat December 5, 2018 The chairman of Crossrail and HS2 has resigned from both roles following a dispute with mayor Sadiq Khan over delays and spiralling costs. Terry Morgan admitted last week he expected to be sacked amid rising costs and opening delays to both the Crossrail and HS2 projects. Morgan, who has led Crossrail for almost a decade, [...]
Proxy adviser tells investors to vote against ‘excessive’ pay of Associated British Foods boss December 5, 2018 An influential advisory group today recommended that shareholders vote against the "excessive" pay package of the Associated British Foods (ABF) boss. The firm’s chief executive George Weston, who belongs to the billionaire family that owns a majority stake in ABF, earns approximately 129 times the salary of the company’s average employee, with proxy firm Pensions [...]
The colour purple: Cadbury loses latest court battle over trademark December 5, 2018 The Court of Appeal has ruled against chocolate-make Cadbury in a battle over its ability to trademark a shade of purple. Cadbury was attempting to modify a trademark it already holds in relation to the use of a distinctive shade of purple with its chocolate bars. Cadbury’s trade mark for the shade of purple “applied [...]
Bank of England delays cyber stress test as it focuses on Brexit December 5, 2018 The Bank of England (BoE) will delay work on a cyber stress test for banks as it focuses on Brexit preparations, according to minutes published today. The BoE’s financial policy committee (FPC) said it will put off a scheme to test how banks react to cyber attacks, which was due to launch early next year. [...]
City watchdog taken to court over failure to act in Royal Bank of Scotland GRG scandal December 5, 2018 A Scottish businessman is taking City watchdog the Financial Conduct Authority (FCA) to court over its role in the investigation into the Royal Bank of Scotland’s restructuring unit. According to court documents, frequent RBS critic Neil Mitchell has filed an application for a judicial review of the FCA’s decision not to sanction anyone from RBS’s [...]
Boohoo countdown promotions broke advertising rules, says ASA December 5, 2018 Online fashion retailer Boohoo misled customers by using a fake countdown clock, according to the Advertising Standards Agency (ASA). The advertising watchdog said Boohoo broke its rules by using false time limits, putting customers under unnecessary pressure to make purchases. Boohoo’s promotions used a countdown clock offering shoppers discounts if they bought items before a deadline. But an [...]