Industry groups call on World Health Organisation to change stance on vaping September 26, 2018 An international coalition of vaping industry groups has called on the World Health Organisation (WHO) to reform its stance on vaping regulation. Vaping advocacy groups from sixteen countries have called on the public health agency to reverse its stance that members states could ban vaping products outright as part of a tobacco control plan. Lead [...]
Read reshuffles WPP as he combines two leading marketing agencies September 26, 2018 Advertising giant WPP continued consolidating its business today as it said it would merge two of its leading agencies. It confirmed it would combine VML and Y&R into a new agency called VMLY&R. It will be headed up by global chief exec Jon Cook, who will report to newly appointed WPP boss Mark Read. In his [...]
Philip Hammond confirms October date for Autumn budget September 26, 2018 Chancellor Philip Hammond has announced that this year's Autumn budget will be delivered on 29 October. I’m pleased to announce the Budget will take place on 29 October. I’ll set out how our balanced approach is getting debt falling while supporting our vital public services, and how we are building a stronger, more prosperous economy. [...]
Bestival creditor Richmond Group offers to buy the festival brand for £1.1m September 26, 2018 Bestival financier Richmond Group said today it has made an £1.1m offer to the festival's organisers for its brand and assets. Bestival Group filed for administration with the High Court last week, and on Sunday said the search for a partner for its family-friendly Camp Bestival event was ongoing despite facing "financial challenges". Richmond Group [...]
Vodafone looks to raise €4bn of hybrid bonds to fund Liberty Global acquisition September 26, 2018 Vodafone is looking to fund its acquisition of Liberty Global’s European cable networks through issuing around €4bn (£3.6bn) of hybrid bonds. Unlike corporate bonds, hybrid bonds combine debt and equity into a single security, and are classed partially as equity by ratings agencies. This allows Vodafone to maintain its credit rating while also raising much [...]
Westminster and City Hall in tense standoff after council misses Sadiq Khan’s deadline for new Oxford Street plans September 26, 2018 Westminster City Council has said it will not meet Sadiq Khan's deadline for submitting its alternative plans for Oxford Street this month, in a move that risks further heightening tensions with City Hall over the abandoned project. The Conservative-led council was working closely with Transport for London (TfL) and City Hall on the pedestrianisation of Oxford Street [...]
Asda sparks petrol pump price war as it cuts costs by 2p per litre September 26, 2018 Supermarket chain Asda cut petrol prices by 2p per litre this morning, sparking a supermarket petrol price war as Morrisons and Sainsbury’s followed suit shortly after. Asda, which accounts for about 7.5 per cent of the fuel market, cut the price cap for its pumps to no more than 126.7p per litre for unleaded [...]
Fox and Disney confirm they will sell Sky stake to Comcast September 26, 2018 Disney and 21st Century Fox have confirmed they will sell off their stake in Sky to Comcast, meaning the US media titan will almost certainly win full control of the broadcaster. It ends speculation around what Disney and Fox bosses Bob Iger and Rupert Murdoch were going to do with the 39 per cent stake after losing the dramatic auction [...]
Online-only retailers outpace their bricks and mortar rivals as fresh evidence of high street troubles emerge September 26, 2018 Online-only retailers’ sales have grown 24 times faster than those of bricks and mortar firms in the last five years, according to new data which underlines the current woes facing high street shops. A report out today from data specialist GBG Loqate shows that pure-play online retailers have grown their sales by 281 per [...]
The Tories must tackle the growing confidence of socialists – and the growing attractiveness of socialism September 26, 2018 Two party leaders gave speeches on Wednesday. One, in New York, praised the free-market as “the greatest agent of human progress” and pledged “a post-Brexit Britain will be an unequivocally pro-business Britain.” The other, in Liverpool, lashed out at “a failed economic system” in which “millions of people” are a mere “side show for [...]