Uber books $600m hit from UK drivers’ rights ruling May 6, 2021 Uber has booked a $600m (£431m) hit following a landmark court ruling that forced the ride-hailing giant to pay its drivers minimum wage and holiday pay. The San Francisco-based app last night said it had incurred the costs to settle historical claims relating to the classification of drivers as workers during the first quarter. In [...]
AB Inbev boss Carlos Brito to step down after 15 years at the helm May 6, 2021 AB Inbev chief executive Carlos Brito is stepping down after 15 years in the top job, marking the end of an era for the brewing giant. Brito, who has worked at the company for 32 years, is credited with transforming the company from a regional Brazilian brewery into the world’s largest beer maker. He will [...]
Mirror publisher Reach hails ‘encouraging’ digital growth after pandemic hit May 6, 2021 Newspaper publisher Reach today reported first-quarter trading ahead of expectations after its circulation and advertising revenue was battered by the Covid-19 pandemic. The London-listed group, which owns the Mirror and Express as well as a number of regional titles, said its digital revenue grew by more than a third in the four months to 25 [...]
Virgin Media eyes return to revenue growth ahead of O2 merger May 6, 2021 Virgin Media has forecast a return to revenue growth this year as it gears up for a £31bn merger with mobile network O2. The telecoms group reported revenue of £1.3bn in the first three months of the year, up a marginal 0.2 per cent. Earnings before interest, tax, depreciation and amortisation slipped one per cent [...]
Ofcom rebuffs BBC Sounds competition concerns in blow to Murdoch May 4, 2021 Ofcom has rejected calls to probe competition concerns over the BBC’s move into on-demand audio in a blow to Rupert Murdoch’s rival media empire. The media watchdog last year launched a review into BBC Sounds, the streaming platform hosting online radio and podcasts from the public service broadcaster, amid concerns about its impact on the [...]
Digital ad firm Dianomi plots £70m London stock market float May 4, 2021 Digital advertising firm Dianomi today unveiled plans for a stock market float in London, marking another boost to the City’s booming initial public offering (IPO) scene. Dianomi, which specialises in paid content for financial services clients, is targeting a £70m valuation and aiming to raise £25m through listing on London’s Aim market this month. The [...]
Sir Martin Sorrell: ‘Chickens will come home to roost’ with post-Covid tax hikes May 4, 2021 Tax rises are inevitable in order to tackle spiralling pandemic-driven public debt across the world, Sir Martin Sorrell has warned. The S4 Capital advertising mogul told City A.M. that while he expected strong economic growth this year and in 2022, “at some point the chickens do have to come home to roost”. Sorrell said he [...]
S4 Capital hikes profit forecast after strong first quarter May 4, 2021 Sir Martin Sorrell’s S4 Capital today lifted its revenue and profit targets for the full year after posting another quarter of rapid growth. The digital advertising firm reported revenue of £122m in the first three months of the year, up 35 per cent on the same time last year. Gross profit grew by a third [...]
Ocean Outdoor ‘optimistic’ about ad recovery despite hefty pandemic loss May 4, 2021 Ocean Outdoor today said it was “optimistic” about a recovery in the advertising market this year after the company crashed to a hefty loss during the pandemic. Ocean, which operates major sites including Piccadilly Lights, reported a pre-tax loss of £182m last year, compared to a loss of £6.2m in 2019. Revenue for the year [...]
Screenshot: Will GB News’ traditional TV bet pay off? April 30, 2021 This week **Media Moment of the Week: Blair’s hair mare **Will GB News’ traditional TV bet pay off? **BT puts sport on the sideline Media Moment of the Week: Blair’s hair mare With allegations of sleaze, rows over John Lewis and Kevin Keegan-esque outbursts, it’s fair to say that all the attention has been on [...]
