Advertisers ditch tabloid July 6, 2011 BLUE-CHIP companies’ boycott of the News of the World following the fresh revelations in the phone hacking scandal could cost News International millions of pounds in lost advertising revenue, according to analysts. The tabloid generates about £35m in annual advertising revenue, and as much as half of this could be lost to rival Trinity Mirror [...]
Cut-throat rivalry partly to blame July 6, 2011 EARLY one morning in a village in southern France I went to buy a paper, and much to my amusement they only had yesterday’s Le Monde – but that day’s Times. The daily availability of British newspapers across Europe is a product of something the British seldom appreciate – their newspapers are by far the [...]
FIT AND PROPER TEST July 6, 2011 Q.COULD OFCOM STOP NEWS CORP’S BID FOR BSKYB? A.No. But it could intervene once News Corp has bought the satellite company and withdraw its broadcasting licence on the grounds that it is not a “fit and proper” owner of television channels. Q.IS OFCOM LIKELY TO SAY NEWS CORP DOESN’T PASS THE TEST? A.It doesn’t have [...]
CITY VIEWS: SHOULD THE HACKING SCANDAL AFFECT THE BSKYB MERGER? July 6, 2011 NOJAN BASERI | LONDON STONE SECURITIES “No. I don’t think the two issues have a lot to do with eachother. The hacking scandal shouldn’t impact on the deal. It’s more of a competition issue. I would expect it to go through without too many problems.” MIKE ALSTON | CATLIN “Maybe. It’s more an issue of competition [...]
Inmarsat to split top roles at end of year July 6, 2011 SATELLITE owner and operator Inmarsat announced a long-expected restructuring of its top team to split the chief executive and chairman roles yesterday. Rupert Pearce, Inmarsat’s senior vice president of its Inmarsat Enterprises business, will become its new group chief executive from January 2012. He replaces Andrew Sukawaty, who has led FTSE 350-ranked Inmarsat as chairman [...]
Numis relieved by Rock Well result July 6, 2011 INDEPENDENT bank and broker Numis Securities yesterday settled a long-running legal case relating to a private share placing it led in 2007. Numis said it had paid out £5m without admitting liability in relation to a decision made by its client Rock Well Petroleum not to refer in placing documents to a law suit that [...]
Asian growth helps Robert Walters gain July 6, 2011 BUSINESS recruitment group Robert Walters said yesterday it had seen solid growth in the second quarter, and announced plans for further expansion into fast-growing markets across Asia. Overall net fee income at the group rose 23 per cent year on year, with 28 per cent growth in Asia in the three months to 30 June. [...]
Allen & Overy posts rises in its profits and revenues July 6, 2011 ALLEN & Overy was the latest magic circle law firm to release its financial results yesterday, posting a seven per cent rise in revenues alongside a six per cent hike in profits. Turnover at the firm, which has 487 equity partners across 37 offices, rose to £1.12bn in the year to 30 April, climbing from £1.05bn [...]
Latest WPP buy sees group snap up India ad firm July 6, 2011 ADVERTISING giant WPP yesterday announced the latest in a string of acquisitions, spending some of its £200m war chest on a majority stake in Indian agency Mindset Advertising. Mindset’s client roster includes Pepsi, Airtel and ADP, and the company posted revenues of £719,000 for last year, with assets of £606,319. The acquisition means that WPP [...]
UK operations feel the drain July 6, 2011 NET fee income growth of 21 per cent may be good for Robert Walters’ bottom line, but what it reveals about the UK is much more worrying. For months commentators have been talking about a flight of talent from London heading eastwards, and income growth of 28 per cent for Robert Walters in Asia compared [...]
