Spotify makes latest podcast acquisition as it looks to cash in on true crime March 26, 2019 Spotify has snapped up its third podcast company of the year as it looks to double down on the format amid a boom in on-demand listening. The Swedish streaming service today said it had acquired Parcast, a podcast studio specialising in true crime series. Read more: Apple hits back at Spotify in App Store war [...]
Rolls-Royce boss enjoys £1.6m pay increase despite £2.9bn 2018 losses and engine issues March 25, 2019 Rolls-Royce chief executive Warren East saw his pay skyrocket by more than £1.6m last year, despite presiding over a loss-making year and a series of issues with the firm’s engines which grounded a British Airways jet for nearly a year. East did not receive a rise in his base salary, but was the beneficiary of [...]
Game plays with higher profits to buck high street worries March 21, 2019 Profits soared at video game retailer Game’s parent company in the first six months of the financial year, even as revenue fell by nearly five per cent. The figures Game Digital’s profits before tax increased over 20 per cent to £14.8m, however gross profit contracted 1.2 per cent to £122m. Read more: Game shares boosted [...]
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 [...]