Brexit hits advertising industry, with spending forecast to fall this year and next July 14, 2016 The UK’s advertising market is expected to shrink this year and next after last month’s Brexit vote. The IPA Bellwether Report has downgraded its adspend forecast for this year from 3.3 per cent growth to minus 0.2 per cent. And the market is expected to shrink further next year, by 1.3 per cent, down from the [...]
Hands off: Why Theresa May shouldn’t try to be a micromanager July 13, 2016 As Theresa May begins her premiership today, her leadership will be tested like never before. With the nature of the UK’s relationship with the EU unknown, she will have her work cut out. Conservative colleagues have described her tendency to micromanage the Home Office, something which would be impossible to do in her new role. [...]
Here’s how UK fintech’s rallying action in a post-Brexit no-man’s land July 10, 2016 London's fintech industry is rallying to action after the vote for Brexit in a bid to alleviate the fears of startups, along with their investors and supporters, over issues such as capital, market access and talent. The industry is already formulating a plan in the face of overwhelming uncertainty and a lack of clarification from political leaders on [...]
Luxury hotels are engaged in a race to the top to treat their wealthy customers to ever more extravagant perks, from designer wardrobes to private jets July 7, 2016 Back in the late 1800s, the Savoy famously became the first hotel in London to run on electricity, a sign of true luxury at the time. It also had lifts, “speaking tubes” so that guests could call for a maid and, later, en suite bathrooms with showers. Over the decades, it has continuously evolved to [...]
China Resources Beer executive says country is set to approve AB InBev’s Megabrew deal July 6, 2016 An executive at China Resources Beer today said he believes the country’s competition authority is set to clear Anheuser-Busch InBev’s (AB InBev) takeover of SABMiller. “We don’t see any obstacle so far in getting a green light from China authorities,” chief financial officer Tomakin Lai said, reported Reuters. “We are confident that the deal can eventually [...]
Before the bell: What you need to know before the US market open June 30, 2016 The Fed's stress tests were failed by two European banks further buffeting stocks hit by the Brexit vote, while Wall Street lenders have announced share-buyback plans. Here's what you need to know before the US market open at 2:30pm London time. Futures are pointing down ahead of the open, with the S&P off by 0.16 per [...]
South African competition watchdog waves through AB InBev-SABMiller Megabrew deal June 30, 2016 The South African antitrust authority has approved Anheuser-Busch InBev's proposed takeover of British drinks giant SABMiller. AB InBev said the green flag from the country's competition tribunal put it "well on track" to close the £71bn deal in the second half of 2016. SABMiller is a big employer in South Africa, which has now become the 16th [...]
EU Commission competition authority launches investigation into AB InBev’s “Belgian beer market practices” June 30, 2016 The European Commission competition regulator has opened an investigation into whether Anheuser-Busch InBev (AB InBev) has abused its position in the Belgian beer market. The investigation, launched on the antitrust authority's own initiative, will decide whether AB InBev has used its "dominant" role on the Belgian drinks market to hinder imports of its beer from neighbouring countries, such [...]
Canvas & Stone: We ask five entrepreneurs who inherited country estates how they managed to turn their crumbling piles into profitable businesses June 29, 2016 Inheriting a country estate sounds like one of the most ridiculous privileges that could be bestowed upon a 30-something in modern Britain. In reality, it’s a bit like being told to look after a dying relative in the middle of nowhere who keeps stealing from your wallet when you’re not looking. When five friends suddenly [...]
Don’t rock the legal sector post-Brexit vote, pleads Law Society chief executive June 28, 2016 The Law Society's chief executive has today urged policymakers not to pick away at regulation surrounding the legal sector so close to the EU referendum result. Speaking ahead of a justice committee hearing on legal services regulation, Catherine Dixon warned that key legal changes that could be sparked by Brexit would take years to put [...]