WPP offloads stake in sports marketing agency Two Circles December 16, 2019 WPP today announced it has sold a majority stake in sports marketing agency Two Circles to New York-based private equity firm Bruin Sports Capital. Two Circles, which sat in WPP’s Group M division, analyses data on sports fans across the world to create marketing campaigns. It counts the Premier League, UEFA, Formula 1, and Wimbledon [...]
Uber in talks to sell Indian food delivery business to Zomato in $400m deal December 16, 2019 Uber is said to be in talks to sell its Indian food delivery business to local rival Zomato in a deal worth roughly $400m (£299m). The ride-hailing giant is looking to offload Uber Eats in India to Zomato as part of its plan to reach profitability by 2021, according to several media reports. Read more: [...]
OBR: Accounting changes push up UK borrowing by £20bn a year December 16, 2019 The UK’s budget watchdog has said that government borrowing will increase by around £20bn a year due to accounting changes, highlighting the fine line chancellor Sajid Javid will have to tread to meet his new spending rules. The Office for Budget Responsibility’s updated forecasts (OBR) showed that the budget deficit – the difference between spending [...]
South Western rail strike set to run to end of December as peace process stalls December 16, 2019 Strikes across one of London’s busiest railway networks are increasingly likely to run for the whole of December, after the process of arranging peace talks between union bosses and South Western Railway has stalled. The 27-day rail strike called by the Rail, Maritime and Transport Workers (RMT) Union has caused chaos for the first 16 [...]
First Group shareholder claims victory as firm weighs sale of US arm December 16, 2019 A major First Group shareholder has welcomed the firm’s decision to consider a sale of its US businesses. The transport giant today said it has appointed advisers to review its US school bus and public transit arms, adding that it will “explore all options” a month after a sinking share price pushed two big investors [...]
Senior Labour MP says BBC ‘played a part’ in election defeat December 16, 2019 A senior Labour MP has accused the BBC of “consciously” playing a role in the party’s election defeat, as figures on both ends of the political spectrum take aim at the broadcaster over perceived bias. Shadow transport minister Andy McDonald said the BBC and other broadcasters had allowed Jeremy Corybn to be “demonised and vilified” [...]
Mike Ashley mulls £100m staff bonus scheme December 16, 2019 Sports Direct owner Mike Ashley revealed that his business, which today rebranded as Frasers Group, is mulling a £100m share bonus scheme for employees. The proposals are at an early stage, but the scheme would only be open to full-time employees and would not include staff members on zero-hour contracts, Ashley said today. Read more: [...]
Former Serco directors charged with defrauding Ministry of Justice over tagging contract December 16, 2019 The Serious Fraud Office (SFO) has charged two former Serco executives with fraud and false accounting as part of an investigation into the outsourcing giant’s electronic tagging contract. Nicholas Woods and Simon Marshall have both been charged with fraud by false representation and false accounting in relation to representations made to the Ministry of Justice [...]
Boris Johnson set to bring Brexit bill before MPs on Friday December 16, 2019 The Prime Minister is to plough ahead with plans to quit the EU in the first week back after his dramatic Thursday night victory, with new MPs voting on his Brexit bill as early as this week. The Number 10 spokesman confirmed this morning that Boris Johnson would seek to bring the Withdrawal Agreement Bill [...]
The best and worst ads of 2019 December 16, 2019 It has been a year of highs and lows for adland. PRs, creative agencies, and brands will be examining their advertising efforts this month, and while some will be pleased with their work, others will be looking to improve next year. To help with this process, I asked members of the marketing industry and other [...]