Inmarsat shares take off after private equity firms make buyout offer March 20, 2019 Shares in British satellite firm Inmarsat soared more than 16 per cent in early trading after it revealed it is in talks with two private equity firms over a buyout deal. Inmarsat last night confirmed it is in discussions with Apax Partners and Warburg Pincus, which have tabled a cash offer of $7.21 (£5.43) per [...]
Hermes bags profit boost as demand from Asia drives surge in sales March 20, 2019 Luxury bag maker Hermes has posted double-digit profit growth for the full year as rising demand in Asia helped boost sales across all business lines. Read more: Asos confident on full-year targets despite 'challenging' markets The figures Hermes’ net profit rose 15 per cent to €1.4bn (£1.2bn). Consolidated revenue was up 7.5 per cent to [...]
Watchdog bans payday loan ad encouraging consumers to stockpile for Brexit March 20, 2019 An advert for payday lender Peachy has been banned for using uncertainty around Brexit to encourage consumers to stockpile food. The advert, which appeared in an email from the Manchester-based firm, stated “no one really knows what’s going on with this whole Brexit malarkey” and suggested it was a good idea to have food stockpiled [...]
BBC failings to blame for Eastenders set revamp delay, report finds March 20, 2019 The delayed and over-budget project to rebuild the Eastenders set was doomed from the start due to management failings by the BBC, a government report has found. A damning report by the Public Accounts Committee (PAC), published today, states the BBC underestimated the scale and complexity of the E20 project, which is now £27m over [...]
WPP board ‘finally came to their senses’ over £2m bonus, says Sir Martin Sorrell March 19, 2019 Advertising veteran Sir Martin Sorrell has said the board of WPP “finally came to their senses” over his £2m bonus, which it has paid out almost a year after his abrupt exit. Speaking at Advertising Week Europe this evening Sorrell, who left the ad group amid allegations of misconduct, denied any wrongdoing as he took [...]
UK national security at risk over Huawei 5G plans, Trump officials warn March 19, 2019 The UK’s plans for building a 5G mobile network are putting national security at risk, Trump officials have warned, as the US urges its allies not to partner with Huawei. Senior US officials warned the UK’s system of testing Huawei equipment would not be enough to ensure the country’s 5G network is secure, the Financial [...]
Netflix will not partner with Apple’s streaming service, says boss March 19, 2019 Streaming giant Netflix has said it will not make its films and TV shows available on Apple’s on-demand video platform, as competition in the sector begins to heat up. Chief executive Reed Hastings told reporters in Hollywood the firm will not cooperate with Apple, which is expected to unveil a new video platform at an [...]
Cadbury pulls Freddo ad campaign amid accusations it encouraged children to loot March 19, 2019 Chocolate manufacturer Cadbury has scrapped an ad campaign following complaints it encouraged children to carry out “illegal excavation and looting”. The Freddo Treasures campaign, which urged children to “grab your metal detector and go hunting for Roman riches”, faced backlash from archaeologists and a government minister, who pointed out digging without the landowner’s consent is [...]
Wood Group slashes losses as Amec Foster Wheeler merger drives contract wins March 19, 2019 Energy services firm Wood Group narrowed its losses and posted a surge in revenues last year as its takeover of Amec Foster Wheeler began to pay off. Read more: Wood Group warns of impact of future oil market volatility The figures Wood Group's revenues soared 79 per cent to $11bn (£8.3bn) in the year to the [...]
Digital advertising firm Ocean Outdoor posts profits boost amid expansion plan March 19, 2019 Out-of-home advertising firm Ocean Outdoor has posted double-figure revenue and profit growth after a year of rapid expansion. Read more: Ocean Outdoor snaps up Dutch ad agencies for €51m The figures Revenue rose 15.2 per cent to £62.2m in the 12 months to the end of December. Gross profit increased 13.8 per cent to £25.2m. [...]
