Asda offloads pensions in £4bn deal as it eyes stock market float October 17, 2019 Asda owner Walmart is said to have secured a deal to offload £4bn of the UK supermarket’s pension liabilities as it looks to clear the path for a potential stock market listing. Read more: Asda employees stage fresh protests over contract changes Walmart and Asda’s pension trustees have agreed a £3.8bn buy-in with specialist insurance [...]
Three key changes that underpin the new Brexit deal October 17, 2019 Prime Minister Boris Johnson has defied his critics to negotiate a new withdrawal agreement for Brexit. Much of the opposition to the previous deal, struck by Theresa May, centred on the controversial subject of the border between Northern Ireland and the Republic of Ireland. The EU Commission has published a 64-page document detailing the revised [...]
Brexit breakthrough: How the City responded to the deal October 17, 2019 Westminster was engulfed in drama this morning as Prime Minister Boris Johnson revealed he had secured a last-minute Brexit deal with the EU. European Commission president Jean-Claude Juncker heralded the breakthrough as a “fair and balanced agreement for the EU and the UK”, and Johnson has urged MPs to pass the agreement during a special [...]
Facebook suffers drop in brand value as consumer trust slides October 17, 2019 Facebook has suffered a second successive annual decline in its brand value as the social media firm faces a backlash over data use and its faltering move into digital currency. The Silicon Valley giant has dropped out of the top 10 rankings of the world’s most valuable brands, suffering a decline of almost 12 per [...]
AI marketing sector attracts $2.5bn of investment in 2018 October 17, 2019 Artificial intelligence (AI) marketing companies bagged $2.5bn of investment last year as marketers turned to the new technology to help analyse huge troves of data. Last year’s investment surge has continued into 2019, with $1bn invested in the second quarter alone, according to figures compiled by tech investment firm GP Bullhound. Read more: Meet the [...]
O2 completes UK 5G rollout as it switches on network in six cities October 17, 2019 O2 has today switched on its 5G network in London and five other locations across the countries, completing the rollout of the new high-speed network for the major UK providers. Read more: BT Mobile rolls out 5G for consumer and business plans The new network will be available in London, Belfast, Cardiff, Edinburgh, Slough and [...]
UK companies cut marketing budgets for first time in seven years October 17, 2019 UK companies have cut their marketing budgets for the first time in seven years as ongoing uncertainty has forced bosses to keep a tight control over spending. A net balance of -0.5 per cent of companies reported a reduction in their marketing budgets in the third quarter, according to the Institute of Practitioners in Advertising’s [...]
Netflix shares rise as it beats profit expectations ahead of streaming wars October 16, 2019 Shares in Netflix rose as much as much as nine per cent in after-hours trading as the streaming giant’s third-quarter profit beat analysts’ forecasts. Netflix today reported net profit of $665m (£518.5m) in the three months to the end of September, up almost 40 per cent on the same period last year. Earnings per share [...]
That’s a rap: Hipgnosis lands Timbaland catalogue as it beefs up portfolio October 16, 2019 Music royalties investment firm Hipgnosis has bought the music catalogue of prolific US record producer Timbaland in its latest high-profile acquisition. Read more: Musical shares: Why Merck Mercuriadis believes the old ones are always the best The London-listed firm said it has secured the rights to 108 albums and songs belonging to Timothy Mosley, better [...]
Thomas Cook liquidators secure bids for valuable airport slots October 16, 2019 The liquidators of collapsed airline Thomas Cook are said to have secured bids from some of the UK’s largest carriers after kicking off an auction of dozens of UK airport slots. KPMG set a deadline of 5pm today for bids for the take-off and landing slots as part of an auction that could raise tens [...]
