WPP cuts revenue forecast as US spending slows
Ad agency lowers guidance as tech companies reduce marketing spend
Advertising
Australian regulator blocks ANZ bank’s takeover of Suncorp
ACCC says mergers between smaller lenders preferred to strengthen competition against ‘big four’
Mergers & Acquisitions
Hedge funds lose $6bn betting against cruise lines and hotels
Shares in Carnival, Royal Caribbean and Airbnb have surged as consumers keep spending
Travel & leisure industry
AI frenzy tests Big Tech’s newfound cost discipline
Investment in the burgeoning technology is increasing, but there is uncertainty as to when it will start to pay off
Artificial intelligence
Vegan products are the wild west of ‘wackaging’
Hey, have you heard the one about the overfriendly oat milk?
Advertising
Chinese deal activity in US slumps to lowest level in 17 years
Geopolitical tensions and national security issues curb enthusiasm for merger and acquisition investments
Mergers & Acquisitions
Pay UK households to accept new power lines, report urges
Move could help ease resistance to network projects in drive to wean country off fossil fuels, adviser says
Renewable energy
KKR in talks to buy publisher Simon & Schuster for more than $1.6bn
Paramount has been shopping the company since regulators blocked proposed deal with Penguin Random House
Mergers & Acquisitions
Fine banks that blacklist customers for political views, says UK chancellor
FCA says review on de-banking already being prepared in wake of Farage-Coutts dispute
Financial & markets regulation
Andrew Bailey’s medicine finally appears to be working
BoE governor declines to declare victory, but inflation is expected to continue to fall after protracted series of rate rises
Central banks