WPP board ‘finally came to their senses’ over £2m bonus, says Sir Martin Sorrell March 19, 2019 Advertising veteran Sir Martin Sorrell has said the board of WPP “finally came to their senses” over his £2m bonus, which it has paid out almost a year after his abrupt exit. Speaking at Advertising Week Europe this evening Sorrell, who left the ad group amid allegations of misconduct, denied any wrongdoing as he took [...]
‘Yellow vest’ protesters storm office of attorney general Geoffrey Cox March 19, 2019 A number of "yellow vest" protesters have stormed the office of the attorney general, Geoffrey Cox, demanding he be removed from his post. In a live video posted on Facebook, a group of people crowded around his office in Westminster where they were greeted by police who told them they were committing an offence by trespassing. [...]
Sorrell’s S4 Capital posts revenue rise as mergers help to reel in new clients March 18, 2019 Sir Martin Sorrell’s new advertising venture S4 Capital has posted a large rise in revenue for the year after a string of acquisitions helped it land big-name clients. Read more: S4 Capital ready to compete 'at the highest levels' after Mightyhive merger The figures Revenue jumped 58 per cent year-on-year to £54.8m. Billings hit £59.1m. [...]
Government ferry contracts to cost millions more if Brexit is delayed March 16, 2019 The government will have to spend tens of millions of pounds more than it already has to maintain the ferry contracts it has in place for a no-deal Brexit, if as expected the UK's exit from the EU is delayed. The Department for Transport (DfT) agreed deals with three separate suppliers for additional freight capacity on ferries [...]
The Brexit unknown: how the votes moved markets – and what next March 15, 2019 British politics has faced a turbulent week: three nights of Brexit votes, a Spring Statement and a downgrade to economic growth. Market prices have swung on each twist as investors attempt to digest a constantly shifting set of possible outcomes. The single constant factor is uncertainty. With the scheduled exit date of 29 March looming, [...]
Facebook loses two top technology execs after Zuckerberg adopts privacy shift March 14, 2019 Two senior Facebook technology executives have left the social media giant, days after its chief executive Mark Zuckerberg said the company would be moving towards a “privacy-focused future”. Zuckerberg said in a blog post that chief product officer Chris Cox, one of the firm’s earliest employees, and Whatsapp vice president Chris Daniels had resigned. “As Mark has [...]
Brexit vote live: MPs vote to delay Brexit by extending Article 50 beyond 29 March March 14, 2019 Hello and welcome to City A.M.’s Brexit live blog for the second of potentially three huge votes on the UK’s departure from the EU. Prime Minister Theresa May was defeated in the House of Commons in a second vote on her Brexit deal on Tuesday, losing by 391 votes to 242. Last night, MPs voted [...]
One Savings Bank and Charter Court announce terms of £1.6bn merger March 14, 2019 Challenger banks One Savings Bank and Charter Court have confirmed the terms of a £1.6bn merger. Following the completion of the deal One Savings Bank shareholders will own around 55 per cent of the combined company, the firm announced as it posted its full-year results for 2018. Read more: One Savings Bank and Charter Court [...]
Savills profits slide as it warns of tough year ahead amid Brexit uncertainty March 14, 2019 Property firm Savills has posted a three per cent slip in profit before tax in 2018 as it warned of a decline in transaction volumes over the year ahead. Read more: Savills to hit 2018 targets but warns of uncertainty in the year ahead The figures Group revenue rose 10 per cent to £1.76bn. Profit before [...]
Money laundering is a dirty business that we need to clean up together March 14, 2019 Flag it up, clean it up, flush it out, whatever the call to action, anti-money laundering (AML) legislation is worthy of laser focus. It also requires hyper-vigilance from the accountancy profession. Last week, parliament’s Treasury select committee warned that the UK’s current efforts to counter money laundering are “fragmented”, and that its supervision requires greater [...]