ITV profits rise – but ad sales fall in “uncertain” market March 1, 2017 Pre-tax profits at ITV rose in the year to the end of December, it said today – but ad sales dipped three per cent, partly thanks to uncertainty. The figures Anyone worrying about the fate of ITV in a post-Downton Abbey era needn't have bothered. The company said total revenue rose three per cent to £3.1bn, while pre-tax [...]
Atom Bank secures £113m in new funding for app-only lender February 28, 2017 App-only Atom Bank has succeeded in raising more money as part of a £250m funding round, as it races to secure market share in the newest front in the battle for banking customers. The fintech start-up will receive £113m in investments from Spanish bank BBVA, as well as investment funds Toscafund and Woodford Investment Management, [...]
UEFA Champions League auction: BT and Sky prepare bids but could others come to the party? February 28, 2017 BT and Sky will go head-to-head in a near billion pound battle over the UK television rights for European Champions League football. A tender process kicks off with bids needing to be in tomorrow to secure the rights that also include the Europa League and will run for three years starting from the 2018/19 season. BT Sport is the incumbent provider [...]
Droning on: How drones are transforming marketing February 28, 2017 From publicity stunts to epic and cost-effective aerial photography, marketers are getting increasingly creative with how they use drone technology. Prior to the rise in camera-equipped drones in recent years aerial photography was restricted to those who could afford helicopter support. All that has changed. As City A.M. reported last year, the drone [...]
Softbank pushes merger of its OneWeb investment and Intelsat to create satellite giant February 27, 2017 Japanese technology investor Softbank is lining up a merger between its OneWeb investment and rival Intelsat, according to reports. Talks of a merger are at an advanced stage, according to Sky News, with Softbank looking to capitalise on its recent $1bn (£800m) investment in the company. The deal could be announced today as the New [...]
The Bank of England has admitted to a Michael Fish moment – but economists have plenty to learn from weather forecasters February 27, 2017 So British economists are like the nation's most notorious weatherman when it comes to Brexit? That's what the Bank of England (BoE) has reasserted before the Commons Treasury Select Committee. The nation's number crunchers, said BoE chief economist Andy Haldane, mostly thought Britain's economy would crumble and growth would go into reverse following a Yes vote in last year's EU referendum. [...]
Inflation and business rates to deliver £6.8bn hit to small businesses February 27, 2017 Inflation and business rate rises could deliver a £6.8bn hit to small and medium-sized businesses this year. The rising costs are leading more than half (57 per cent) of these firms to predict their revenues will not grow this year, according to a report from insurance group RSA. Fourteen per cent of small and medium [...]
Video game designer turned chief executive aims to propel his company into the elite February 27, 2017 As a Star Wars and science fiction enthusiast famous for co-authoring a “seminal” video game in the 1980s, it is perhaps unsurprising that David Braben does not come across as a typical chief executive. Sitting tie-less in the City offices of investment bank Numis on the morning of a trading update, the founder of Frontier [...]
ITV expected to blame Brexit for dip in advertising sales February 26, 2017 ITV is expected to cite the Brexit vote as the cause for its first decline in advertising sales since the financial crisis. The broadcaster will unveil a drop of around 7 percent in advertising sales when it publishes full-year results on Wednesday, The Sunday Times reported yesterday. The first advertising decline since 2009 will be [...]
Barclays to install ex-boss of B&Q-owner Kingfisher Sir Ian Cheshire as chair of its UK operations February 26, 2017 Barclays is set to announce Sir Ian Cheshire as chair of its UK ringfenced operations tomorrow. Under the ringfencing rules, banks have until 2019 to split their retail units away from their investment divisions. Sky News, which first reported the news of Cheshire's impending appointment, revealed the Prudential Regulation Authority, the banking sector watchdog, has now [...]