Gambling body cracks down on underage ad exposure August 27, 2020 The betting standards body has unveiled new measures to prevent under-18s from seeing gambling adverts online. The Betting and Gaming Council (BGC), which represents the regulated betting industry excluding the National Lottery, unveiled the crackdown just a day after the advertising regulator revealed that gambling, alcohol and tobacco brands were targeting children. As part of [...]
Klarna sales rise as lockdown sends shoppers online August 27, 2020 Payments provider Klarna said strong demand in the US and UK helped the value of transactions carried out via its payment platform grow in the first half of the year. The figures Klarna reported growth in total net operating income of 36 per cent year-on-year, as demand grew. The value of transactions carried out via [...]
UK firms must return to the office to revive the economy, says CBI boss August 27, 2020 The head of the CBI has warned of “ghost town Britain” as she calls on UK firms to return to the office to revive the economy. Dame Carolyn Fairbairn has called on the Prime Minister to do more to get office workers back to the office. Writing in the Daily Mail, Fairbairn warned commercial centres [...]
Recruitment firm Hays fees drop amid dire jobs market August 27, 2020 Recruitment firm Hays reported a drop in its annual net fees as the jobs market readjusted to the coronavirus pandemic. The figures Hays reported that profit before tax plunged 49 per cent from £246.3m to £126.2m, while operating profit dropped 46 per cent to £135m. Group fees fell 11 per cent for the year as [...]
WPP to pay dividend even as ad revenues slump due to coronavirus August 27, 2020 Advertising giant WPP has said it will pay an interim dividend of 10 pence a share even as advertising revenues plunged due to coronavirus. The group said trading had improved in July, winning more business than rivals, suggesting the worst was over for the ad group. The figures WPP reported a 12.3 per cent drop [...]
VC valuations resilient in the face of coronavirus pandemic August 27, 2020 Venture capital pre-money valuations across all financing stages remained resilient during lockdown, according to new research. VC deal sizes remained healthy during the second quarter even as business optimism waned in the face of the pandemic. Pre-pandemic deals that remain to filter through have helped, as well as rising valuations tied to software and late-stage [...]
Gambling, alcohol and tobacco brands target children in age-restricted ads August 26, 2020 Children have been targeted by almost 160 gambling, alcohol and tobacco adverts which break advertising rules, according to the regulator. The Advertising Standards Authority (ASA) said it had found 159 adverts on 34 websites and five Youtube accounts aimed at children. Companies placing age-restricted ads online are required, under the Advertising Code, to target their [...]
IG employees not required to return to the office until 2021 August 26, 2020 IG is the latest firm to say its employees will not be required to return to the office for the rest of the year. In a memo seen by City A.M., the online trading firm’s chief operating officer Jon Noble told UK employees that they can continue working from home until the end of 2020. [...]
CVC and Advent team up in €1.3bn bid for Italy’s Serie A August 26, 2020 Private equity firms CVC Capital Partners and Advent International have reportedly joined forces in a €1.3bn (£1.17bn) offer for a minority stake in Italy’s Serie A football league. Last month Lega Serie A, the governing body of the league, placed a cap of 15 per cent on any potential private equity investment. CVC and Advent [...]
Provident Financial swings to a loss and scraps interim dividend August 26, 2020 Subprime lender Provident Financial has swung to a first-half loss and scrapped its dividend, as its revenues slipped amid the coronavirus pandemic. The figures Doorstep lender Provident Financial reported a £28m pre-tax loss in the six months to the end of June, compared to a £43.1m profit in the same period a year earlier. On [...]
