Key events
Omnicom buys Interpublic to create the world’s largest carrier
Omnicom he bought Interpublic Group All in all, the deal will create the world’s largest advertising agency with combined annual revenues of nearly $26bn.
New York City agencies in iconic marketing campaigns such as “Got Milk” in California for the Milk Processor Board, “Priceless” for Mastercard, “Because it’s worth it” for L’Oreal and “Different” for Apple.
The combined company will be worth more than $30bn.
Pizza Hut criticized over ‘dangerous’ takeaway promotion including free online roulette
Pizza Hut was criticized for running a “dangerous” promotion that offered customers “free spins” online with their takeaway.
The Neapolitan Online messages were accompanied by messages congratulating customers that they “got 300 free spins in their favorite casino.”
The message continues: “No deposit required! Get yours today!”
Online gambling is associated with significantly higher rates of addiction than most other forms of gambling, according to multiple studies. Control recently limit most stakes on such games at £5, or £2 under 25s, a measure which will come into force next year.
The Pizza Hut promotion drew fury from campaigners in the Conservative Party’s former leader; Iain Duncan Smithand Annie Ashtonwhose husband Luke, his gambling addiction partly fueled by “free” bets.
Harrogate Spring Water plans to cut down the tree that was planted by the schools
Harrogate Spring Waterwhich is owned by a multinational DanoneHe plans to cut down the trees planted by the schools to expand his bottling factory North Yorkshire the town
Two primary schools, along with other local volunteers, helped to plant 450 trees in a project organized by the Rotary Club of Harrogate almost 20 years ago.
“They taught us that trees made oxygen and that it was good for us,” they said Lily Stockburn who attended the tree planting when he was six years old. “I’m devastated that they want to destroy it. To cut down trees to make more plastic bottles, it’s against everything we’ve learned.”
“It’s a beautiful forest. Many people walk their dogs there, loads of wildlife,” he added.
Only the richest 10% of families can afford an average home in England
Richard Partington
Only the wealthiest 10% of households can afford to buy a home for the average price in England, according to official figures revealing Britain’s broken housing scale.
Illuminate the issue of house prices anticipating an increase in household income Office for National Statistics He said the cost of buying a house was “unprecedented” in every part of the UK except Northern Ireland.
He said that as many as 8.6 years of the average annual household disposable income in England, £35,000, the average house price last year was £298,000 – almost double the figure reported in 1999.
The equivalent ratios were 5.8 in Wales, 5.6 in Scotland and 5 in Northern Ireland, where the average property was considered only marginal to most households. The ONS has defined an affordable local median house price as less than the five-year median local income.
On that basis, he said, only households with disposable incomes of at least £69,677 – placing them within the top 10% in England – could reasonably be considered to be able to afford an average-price home in the country.
In Wales, this is in the top 30% of households, and in Scotland for the top 40%. Only in Northern Ireland was the average house price affordable for a family with an average income.
In London, where house prices have skyrocketed the most in the past two decades, even many families in the top 10% of local earners – with disposable incomes of at least £89,901 – would not be able to afford expensive properties on average.
The average house changed hands in capital of around £530,000 last year, equivalent to an average return of 14.1 years. For those in the top 10%, it would take 5.9 years to buy an average property, while it would take 34.7 years for those in the bottom tenth.
Jennifer Rankin
Rachel Reeves said that reopening the debate on the union of the single market and EU customs union is not good for the country or the economy.
Officials said the deal was secured Boris Johnson not the best and he wanted to do “practical things” to improve the trade relationship.
But do we want to open a national conversation about our EU membership, the single market and the customs union? I think it is good for us in the country, or is it really good for frugality? I don’t think so. I think of those years of uncertainty [during the Brexit negotiations] They were bad for the UK both politically and indeed economically.
At the meeting with 20 eurozone finance ministers, she was expected to discuss the war in Ukraine, global trade and competitiveness. He rejects suggestions that greater proximity to the EU would jeopardize the UK’s relationship with the US under incoming president Donald Trump.
I think it would be very damaging to the UK economy to try and pick off the plague, which we are not going to do.
The president warns of barriers to greater trade with the EU unless the relationship improves
Jennifer Rankin
Rachel Prefect He said the UK would face greater barriers to trade with the European Union unless there is an improvement in trade; reports our Brussels correspondent Jennifer Rankin.
Since Brexit, the EU is developing new regulations that will impose more costs and red tape on companies outside the bloc, such as carbon tariffs on imports. carbon boundary adjustment mechanism; to the new rules in recycling plastic packaging.
Speaking to the press ahead of a meeting with eurozone finance ministers today; the first of its kind since Brexitsaid the chancellor;
I do not deny that there are barriers [to trade with the EU]and there will be greater barriers in the future, unless we improve our trade with the European Union, which is precisely why I am here.
Bank of England’s Ramsden says the Bank will watch for greater risk-taking
The Bank of England is monitoring the possibility that investors will take greater risks after a year of relative stability in the markets, according to Dave Ramsdenin charge of the market.
Ramsden he said in the text of the speech at the Official Monetary and Financial Institutions Forum, thinking of a certain pool;
I also remind myself that while this has been a year of relative stability, that is no sign that we should be complacent.
Like the famous economist Hyman Minsky he once said, “stability breeds instability” and this year’s comparatively calmer trading conditions could lead to greater risk-taking in the future.
Down by the sea: Poverty brings Blackpool life expectancy to UK lowJosh Halliday writes our editor for the North of England.
No one wants a covenant table. First time in 20 years; BlackpoolOnce a glamorous seaside resort, this week Glasgow was awarded the lowest male life expectancy in the UK.
People who were born in Blackpool now live up to their 73rd birthday on average, according to Office for National Statistics (ONS) studysix years less than the average in the rest of England.
The figures illustrated an uncomfortable truism about modern life in Britain: health wealth and poverty kills, in that which divides the ONS from the north and the south.
Those born in the affluent district of Hart in Hampshire tend to live a full decade longer than those in less prosperous areas, compared with people born in the eastern winter. of England in the middle of the north they live three years in the summer in the east.
Here is our full story Boohoo:
I saw how declining Britain’s high streets can be brought back to lifewrites Lewis Hollyco-founding partner for research, urbanism and architecture practice, We Did That, and architect for the London Borough of Hackney.
If you’ve read anything about high street lately, chances are at least some of that is included in the report another farmer or ruin: M&S and Boots he included treasures; banks closing branches, retiring pubs. It’s a long list, and maybe we’d care less if we all trusted that one patient relationship with another would be dynamic. But that is not the case in many of our streets.
On the contrary, the saddest thing, a to report to the editors At the end of November, the House of Lords makes the environment built to rebuild the lesson, opening with the arguments of “the same and flourishing future” for our high streets.
However, there is good news about the scale of the problem. High street vacancy remains a constant challenge even in most towns and urban centers. This year, the government consulted on this issue 172,000 vacant units across the UK, with 80% of those having spent more than two years.
Lebanon is picking up dollar bonds in hopes of more stability
Lebanon’s dollar-denominated bonds fell more than 1% after rebels in neighboring Syria ousted the president. Bashar al-Assad – Among the expectations this could weaken the Lebanese armed group Hezbollah and bring about political and economic stability.
Lebanon’s 2029 bond gained the most, up 1.05 cents to 11.78 cents in the dollar, the highest level since December 2022, Reuters reported, citing tradeweb data. Israel’s international ties also rose slightly.
Lebanese bond prices remain depressed, although the bonds have rallied at several points since Israel began bombing Lebanon, which has given investors hope that Hezbollah will break its deadly political stranglehold and make progress toward fiscal sustainability.
In Syria, rebels seized the capital Damascus in a flash over the weekend and Assad fled to Russia following 13 years of civil war and five decades of dynastic rule.
Analysts said this meant that Iran had lost a key element of its arc of influence in the region, as well as its land link with Hezbollah in Lebanon.
Hasnain Malik Reuters at Tellimer Research reported:
This further undermines Hezbollah, which, in the near term, means a lower security risk for Israel and a potentially more friendly government market in Lebanon,” he said.
Hezbollah has played a large part in the fighting in Lebanon, which has had no fully established head of state or cabinet since the presidency. Michael AounThe term expired at the end of October 2022, when the country was stunned by one of the world’s worst economic crises.
The latest events would force a weakened Hezbollah to play a more militant role, he said Tim Ashsenior advisor at RBC BlueBay Asset Management.
A new international focus on a broader relief effort will certainly pull Lebanon along with Syrian coattails – assuming some stability and political reform in Syria itself.