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Chancellor Gordon Brown is banking on a global upturn in the economy and took the risk of keeping borrowing and other revenue-raising measures to a minimum in yesterday’s budget, according to KPMG. The group’s chief economist for the UK, Andrew Smith, says that Brown is hoping that an early economic recovery will provide revenues to… Continue reading Brown’s Budget Banks On Global Upturn

The Chancellor stood up at 12.30pm. Economic growth in 2002 was 1.8%. Growth forecast for 2003 revised downwards from 2.5%-3.0% to 2.0%-2.5%. Research and Development tax credit to be expanded. One pence on a pint of a beer; duty on spirits and cider and sparkling wines frozen. Four pence increase on a bottle of wine.… Continue reading Budget 2003 Coverage – The Chancellor’s Speech As It Unfolds

Rupert Murdoch’s News Corporation could finally clinch a deal to take control of US satellite group, DirecTV, with commentators claiming that an agreement could be signed as early as today. According to report in the Times newspaper, which is ultimately owned by News Corp, the $7 billion (£4.5 billion) deal would give the company a… Continue reading News Corp All Set To Wrap Up US Satellite Deal

Shares in global advertising group, WPP, toppled by 33.5% yesterday, after one of its key clients, the Ford motor company, announced plans to reduce non-production-related costs by 20%. This reduction will include, at least to some degree, expenditure on marketing and advertising. Ford is understood to plough 80% of its advertising and marketing spend into… Continue reading WPP Stock Plummets As Ford Looks To Cut Marketing Spend

The economy of the European Union (EU) and the eurozone ended on a very weak note in 2002 and continued sluggishness is expected into the first half of this year, according to forecasts from the European Commission (EC). The EC’s outlook for 2003 predicts that the average eurozone GDP growth rate will be just 1%,… Continue reading EC Sees Weak Economic Growth In 2003

US consumer expenditure on electronic media and entertainment passed the $100 billion mark in 2002, and is expected to rise by more than $20 billion by 2010, according to an upcoming report from Informa Media Group. Informa says that the growth comes despite the cyclical nature of the games industry, the impact of piracy on… Continue reading US Entertainment Spend To Pass $120bn By 2010, Says Informa

The ASA has dismissed complaints against a series of national press ads for the BBC’s new digital service, Freeview, which claimed that consumers could receive eight BBC channels for free.The decision not to uphold the complaints follows a preliminary ruling by the ASA earlier this year, which found the ad campaign in breech of its… Continue reading Freeview Escapes Censure In ASA Turnaround

Capital was seen in focus yesterday, up 4.40%, after high-profile DJ Chris Tarrant confirmed he has no plans to leave the station this year or in 2004. Analysts at Morgan Stanley estimate Tarrant’s breakfast show contributes 15% of total group revenues at the station (see Good News For Capital As Tarrant Plans To Stay).Elsewhere, WPP… Continue reading Sharewatch: Capital Rises As Tarrant Vows To Stay

Creativity and originality are more important than big marketing budgets when it comes to building strong brands, according to the latest research from the Chartered Institute of Marketing (CIM).The study, which was carried out in conjunction with The Brand Council, shows that companies that keep their brands fresh through intelligence, rather than big marketing budgets… Continue reading Cool Is Key To Building A Strong Brand

The Communications Bill is set to become law later this year and the media ownership regulations will be relaxed in a move that could signal the biggest shake-up of UK media for many years. Broadcasters are clearly bracing themselves for change, but there appears to be a general feeling of uncertainty about how the new… Continue reading Feature: Cashing In On The Communications Bill