Pensioners in the UK shelling out over £24bn in income tax July 9, 2018 The amount pensioners in the UK pay in income tax has ballooned to over £24bn, figures out today have shown. Insurer Royal London obtained the information through freedom of information (FOI) requests to find out how much people over the state pension age were paying to the tax man in different parts of the [...]
UK keeps crown as best in Europe for financial services investment July 9, 2018 The UK has kept its crown as the top location in Europe for financial services investment, despite Brexit uncertainty causing projects to decline. In 2017, UK financial services brought in 78 foreign direct investment (FDI) projects, higher than any other country in Europe, although it was down from record levels of 106 the year before. [...]
Culture secretary Matt Hancock expected to make decision on Rupert Murdoch’s Sky takeover this week July 8, 2018 Culture secretary Matt Hancock is this week expected to reveal whether Rupert Murdoch's 21st Century Fox will be given clearance to take over Sky and bat off a rival bid from Comcast. If Hancock gives Murdoch the go-ahead, the media mogul will buy the 61 per cent stake in Sky he does not already own. [...]
Sir Martin Sorrell sweetens MediaMonks bid with shares in S4 Capital July 8, 2018 Ad guru Sir Martin Sorrell is sweetening his bid for Dutch digital agency MediaMonks by offering its executives a large amount of equity in his new business, S4 Capital, City A.M. understands. Over half (55 per cent) of MediaMonks is owned by private equity firm Bencis, while the rest is in the hands of a [...]
WPP row with former boss Sir Martin Sorrell heats up as company claims it has been considering a move for MediaMonks ‘since November’ July 5, 2018 FTSE ad giant WPP today claimed it has been considering a takeover of Dutch agency MediaMonks since November 2017, as it described a rival bid from former boss Sir Martin Sorrell as “unlawful”. A letter sent by WPP's lawyers to Sorrell suggested the competing bid from his new marketing venture S4 was a "diversion of [...]
WPP goes head-to-head with former boss Sir Martin Sorrell in bidding war for Dutch digital agency MediaMonks July 3, 2018 WPP is locked in a bidding war with former chief exec Sir Martin Sorrell's new venture S4 Capital to take over Dutch digital agency MediaMonks. Reports on Monday suggested Sorrell's new vehicle S4 Capital was in talks to acquire the company, which has around 600 staff. But it emerged today that WPP made an offer [...]
Online broker Plus500 raises profit expectations again as trade war nerves create volatile market July 2, 2018 Online broker Plus500 has raised its profit forecast for the second time this year, as it said market volatility caused by fears of a US trade war had boosted trading in quarter two. The update comes weeks after the platform for amateur traders graduated to London's main market from Aim after the company said it [...]
Three UK chief exec Dave Dyson: Company focused on creating ‘genuine customer experiences’, not ‘hypothetical’ 5G launches July 2, 2018 In the race for 5G connectivity, many would assume that fast, and first, is best. But the head of one of the UK’s biggest mobile operators says he is not concerned with being first to the party when it comes to rolling out the faster network for consumers. Dave Dyson, Three UK chief executive, says [...]
Sir Martin Sorrell gets £100m funding from City investors for new venture S4 Capital July 1, 2018 Adman Sir Martin Sorrell has raised around £100m for his new marketing venture S4 Capital, City A.M. understands. Sorrell has been scoping out City investors to back the advertising enterprise, which is looking to capitalise on opportunities in tech, data and content marketing. A spokesperson for Sorrell declined to comment. The former WPP boss returned [...]
Billionaire hedgie Crispin Odey looks to boot out bosses at struggling Tungsten July 1, 2018 Billionaire hedgie Crispin Odey is leading a charge to overhaul the board of beleaguered digital invoicing firm Tungsten. A notice from Tungsten confirmed that Odey Asset Management had demanded a shareholder vote to remove the company's chair Nicholas Parker, as well as chief exec Richard Hurwitz and two non-executive directors. The requisition aims to appoint [...]
