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☆ Elon Musk's X sues Twitch in lawsuit alleging advertisers conspired to boycott the platform
▼ + stars: | 2024-11-19 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +6 min

AdvertisementX has added Twitch as a defendant in a suit accusing advertisers of colluding to withhold ad spend. Ad revenue on X has plummeted since Elon Musk acquired the platform in 2022. Elon Musk's X is suing Twitch, alleging that the Amazon-owned video streaming platform and other companies illegally conspired to boycott advertising on the platform formerly known as Twitter. Twitch, X, and the WFA didn't immediately respond to requests for comment made by Business Insider outside normal US business hours. Musk's own behavior on and off the platform — including famously telling advertisers who boycotted X to "go fuck yourself" — hasn't encouraged advertisers to place their budgets there, either.

Persons: Elon Musk, Elon Musk's, Twitch, Stephan Loerke, it's, Ørsted, Twitch —, X's, hasn't, Jim Jordan, Donald Trump's, Abraham Yousef, Yousef Organizations: Global Alliance of Responsible Media, Elon, Twitter, Federation, WFA, Business, Unilever, CVS Health, Twitch, Google, Committee, WPP, Diageo, Tower Locations: Texas, Ohio

☆ China's biggest shopping event of the year exceeds low expectations
▼ + stars: | 2024-11-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's Singles' Day shopping festival saw consumers spend more than expected in what has otherwise been a tepid retail environment, consulting executives told CNBC. "I do think for many brands it probably will have turned out a bit better than they thought, but on a low level. Probably nobody would say we hit it out of the ballpark," said Chris Reitermann, CEO of Ogilvy APAC and Greater China. Many multinational corporations that sell consumer products in China are more cautious on the market, if not struggling, Reitermann said. But he pointed out many of the companies are still "very profitable" in the country, even if their growth has slowed to the low single digits, instead of high double digits.

Persons: Major, Chris Reitermann, Ogilvy APAC, Reitermann, Alibaba, JD.com Organizations: BEIJING, CNBC, WPP China Locations: Greater China, China, GMV

☆ WPP's former dealmaker is joining investment bank Canaccord Genuity — a sign advertising M&A could heat up
▼ + stars: | 2024-10-23 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

Canaccord Genuity is hiring the former WPP dealmaker Lance Maerov to work on ad and media M&A. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Canadian investment bank Canaccord Genuity is hiring a former top dealmaker at the advertising giant WPP for its advertising and media mergers-and-acquisitions practice, Business Insider can exclusively reveal. Canaccord Genuity didn't respond to requests for comment.

Persons: Lance Maerov, —, Genuity, It's, IPG, Martin Sorrell, Maerov, Sorrell, Mark Read, Andrew Scott, Weinstein, Harvey Weinstein Organizations: WPP, Service, Madison, Mars United Commerce, Publicis Groupe, Verve, Jun, Epsilon, Street, Nike, Tata Consultancy Services, Street Journal, Real Media, Weinstein Co, Vice Media Locations: British

☆ Taboola is looking to compete with Google and Facebook for small-business clients using a new generative AI tool for ad campaigns
▼ + stars: | 2024-10-15 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

The tool was built using OpenAI's GPT-4o and data input from years of Taboola ad campaigns. They've maxed out Google and Facebook, not because their threshold for margin is tapped, but the way most spend on Google and Facebook, they will spend, and spend, and spend, and they stop because it gets expensive," Singolda said in an interview. Singolda said Abby was designed to help Taboola bring on more advertisers and tackle the onboarding process. And Taboola itself already offers an AI tool called Maximize Conversions that automates its clients' ad bidding strategies. Advertisement"I don't see generative AI tools as likely to drive near-term adoption of new ad platforms among SMBs," Lipsman said.

Persons: Abby, Taboola, —, Adam Singolda, Singolda, Publicis, Andrew Lipsman, Lipsman Organizations: Service, BBC, CBS, Yahoo, Apple News, Business, Google, Facebook, Big Tech, Omnicom, WPP

☆ Why Roblox investors are shrugging off a blistering short-seller report
▼ + stars: | 2024-10-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Roblox stock closed at $41.60 on Friday, slightly above where it was earlier in the week when Hindenberg published its research. Related storiesIn the wake of the report, Wall Street and investors seemed to largely stick by the company. AdvertisementRoblox, which primarily makes its money from sales of online currency and items, has been working to grow its advertising business. The report could hinder Roblox's ad businessDespite Roblox's nearly immediate stock recovery and support from Wall Street, the report and related issues could have implications for Roblox's advertising business. Its ad business is barely a rounding error today, but Roblox is still not profitable, so it's trying hard to change that.

Persons: Hindenburg, —, Roblox, It's, Hindenberg, Piper Sandler, Ron Kerbs, Roblox's, Roblox isn't, Jeremy Goldman Organizations: SEC, Wall, Service, Hindenburg, Securities, Exchange, Wall Street, Wedbush Securities, WPP, New, Bloomberg Businessweek, Walmart, Warner Bros . Pictures, Facebook, YouTube Locations: Roblox

☆ Advertisers are scrutinizing the value of AI tools as some early efforts fall flat
▼ + stars: | 2024-10-09 | by ( Lucia Moses | Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

AdvertisementTwo years after OpenAI's ChatGPT and other chatbots launched, the advertising community's excitement over generative AI has come down to earth. The shift was evident at New York's Advertising Week, a four-day gathering this week that organizers expected 17,000 to attend. Last year, a Salesforce survey showed about three-quarters of marketers were or planned to use generative AI. Though enthusiasm about AI was tempered in the industry at this year's Advertising Week, there wasn't a widespread abandonment of the tech. Adtech company LiveRamp announced a pair of AI partnerships to help marketers find the right AI company for a given problem.

Persons: —, OpenAI's ChatGPT, Ashwin Navin, there's, Andrew Lipsman, I'm, Zaid Al, Qassab, He's, Let's, Samba's Navin, That's, NBCU, DoubleVerify, Nick Fairbairn, Joshua Nafman, it's, Nafman, Fairbairn, LiveRamp, Scott Howe, Howe Organizations: Publicis, WPP, Service, New, Samba, WPP —, Saatchi, Business, Google, Advertising, Media, Diageo

☆ Denmark is the No. 1 country for quality of life—Canada and New Zealand also made the top 10 list
▼ + stars: | 2024-09-26 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

U.S. News and World Report recently released its ranking of the best countries in the world based on quality of life. The best countries for quality of life were scored across the following metrics:AffordableGood job marketEconomically stableFamily-friendlyIncome equalityPolitically stableSafeWell-developed public education systemWell-developed public health systemOne country noticeably missing from the top 10 is the United States. The United States ranked poorly in the metrics used to rank the best countries for quality of life — No. 49 for countries seen as not bureaucratic, Elliot Davis, reporter at U.S. News and World Report, tells CNBC Make It. "In terms of perceptions, they aren't seen as providing just quite as good a quality of life for its people as other countries."

Persons: Elliot Davis, Davis Organizations: . News, U.S . News, WPP, Wharton School, University of Pennsylvania, United States, CNBC Locations: U.S, United States

☆ There's tons of hiring activity in media ad sales right now, but there's a catch
▼ + stars: | 2024-09-09 | by ( Lucia Moses | Lara O'Reilly | ) www.businessinsider.com time to read: +8 min

While it might look like there's a flurry of advertising hiring, industry insiders say the reality is more sobering. AdvertisementLegacy media companies have sharply cut staff in recent years, including sales, and those jobs aren't coming back. Disney has said it plans to automate half its ad sales. "The number of good job opportunities are few and far between because the large media companies are not hiring as quickly. "Ad sales is no longer ad sales," said Gary Stolkin, global CEO of The Talent Business, a global executive search firm specializing in the creative industries.

Persons: —, they've, Jean, Paul Colaco, aren't, Dave Morgan, Lisa Valentino, David Lawenda, David Zaslav, David Ellison's, Christopher Vollmer, Simon Francis, Peter Naylor, Brian Lesser, Lesser, WPP's, Roku, Harry Kargman, Kargman, Krishan Bhatia, Gary Stolkin, Stolkin, who's Organizations: Service, Netflix, Business, Disney, Paramount, Warner Bros, NBA, Companies, MediaLink, TV, Media, Flock Associates, Progressive, Mobile, The Talent Locations: Teads, NBCUniversal

☆ Advertisers plan to withdraw from X in record numbers
▼ + stars: | 2024-09-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

A global survey by market research firm Kantar found that a net 26% of marketers plan to decrease their spending on X in 2025, the biggest recorded pullback from any major global ad platform. Only 4% of marketers overall think X ads provide “brand safety” — certainty that their ads won’t appear alongside extreme content — compared with 39% for Google ads, Kantar said in a report Thursday. The findings suggest that Musk’s charm offensive at the world’s largest annual advertising festival, Cannes Lions, in June hasn’t succeeded. According to the report, YouTube remains the ad platform marketers most prefer, while, for consumers, Amazon and TikTok share the top spot. Brazil blocked X over the weekend following an order by the Supreme Court because Musk refused to appoint a new legal representative in the country.

Persons: Elon, Kantar, ” Gonca, hasn’t, Mark Read, ”, “, Musk, Xhave, Paramount —, X, Luiz Inácio Lula da Silva, Musk’s “ Organizations: London CNN, Google, Cannes Lions, WPP, Unilever, Mars, CVS, ”, IBM, Disney, Paramount, YouTube Locations: Brazil

☆ China economy: Young people in China aren’t spending on romance. That’s a problem
▼ + stars: | 2024-08-13 | by ( Chris Lau | Hassan Tayir | ) edition.cnn.com time to read: +7 min

“The Qixi Festival is not as robust as previous years. Couples attend a kissing contest during the traditional Qixi festival in Shenyang, northeast China's Liaoning province, on August 13, 2013. “The only part of the world where consumer confidence remains very low is China,” L’Oreal CEO Nicolas Hieronimus told analysts on an earnings call late last month. Lower-than-expected growth in the global beauty sector this year is largely a consequence of low consumer confidence in China, he added. People take photos at a bus stop decorated with flowers during Qixi Festival, or Chinese Valentine's Day, on August 22, 2023 in Chongqing, China.

Persons: China’s, Louis Vuitton, ”, forlornly, Huang Jinkun, Alfred Wu, Lee, “, Yeap Jun Rong, Xi Jinping, Peng Liyuan, Stringer, De Beers, That’s, Niulang, Nicolas Hieronimus, Joanne Wilson, didn’t, ” Mercedes, Ola Kaellenius Organizations: Hong Kong CNN, Weibo, CNN, Qixi, Lee Kuan Yew, of Public, National University of Singapore, Volkswagen, Ministry of Civil Affairs, Getty, Diamond, State Administration of Foreign Exchange, Global, WPP, China News Service, Mercedes, ” Mercedes Benz Locations: China, Hong Kong, Shenyang, Liaoning province, Beijing, China's Liaoning province, AFP, Chongqing

☆ The Global Alliance for Responsible Media is 'discontinuing' after Elon Musk's X filed an antitrust lawsuit against it
▼ + stars: | 2024-08-08 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

Read previewThe advertising trade group The World Federation of Advertisers told its members on Thursday that it was "discontinuing" activities for its Global Alliance for Responsible Media initiative following an antitrust lawsuit filed by Elon Musk's X against the company earlier this week. This story is available exclusively to Business Insider subscribers. AdvertisementRepresentatives for the WFA and GARM didn't immediately respond to requests for comment from Business Insider. The platform's lawsuit alleged that after Musk acquired Twitter in 2022, GARM persuaded top brands not to advertise on it. The Committee has been investigating whether GARM members illegally colluded to demonetize conservative platforms and voices.

Persons: —, Elon Musk's, Stephan Loerke, Loerke, GARM, colluded, Ørsted, GARM didn't, Linda Yaccarino, wasn't, Musk, Jim Jordan, Russell Dye, Rumble, X didn't Organizations: Service, Federation, Global Alliance, Responsible Media, WFA, Business, Twitter, Unilever, Mars, CVS, WPP Locations: Texas, US, Ohio

☆ Elon Musk has a weak case against advertisers — but he's playing the long game
▼ + stars: | 2024-08-08 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +9 min

Read previewOn Tuesday, Elon Musk's X fulfilled his promise to sue advertisers over their boycotting of the platform. GARM creates frameworks to provide common definitions around areas like hate speech and misinformation; it's voluntary whether advertisers use them. It doesn't rank platforms on these issues, and its role isn't to advise advertisers on where to spend their dollars. US advertisers are also protected by the First Amendment to spend or not spend on whichever media platforms they please. If the X suit moves into the discovery phase, there could be a whole lot more.

Persons: —, Elon Musk's X, X, Ørsted, Musk, Ruben Schreurs, Ørsted didn't, GARM, Jim Jordan, colluded, WPP's GroupM, Rob Rakowitz, Rumble, Jamie Barnard, Jim Jordan of Ohio, Win McNamee, Jordan, Brian Wieser, Wieser Organizations: Service, Federation, Global Alliance of Responsible Media, Twitter, Unilever, Mars, CVS, Business, WFA, Republican, Procter, Gamble, WPP's, Committee, Verizon, Chanel, PepsiCo, WPP, Media, Madison Locations: Texas, Ohio

☆ Ad giant Omnicom lifts the lid on its new generative AI platform ArtBotAI, which it says improves ad performance by 40%
▼ + stars: | 2024-07-10 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +6 min

The execs leading ArtBotAI said it differs from other ad agency holding groups' AI offerings because it builds on the ArtBot content automation tool its Critical Mass agency originally launched in 2022. "It's not just a generative AI tool, it's an automation tool that has been operationalized with large accounts at scale." Related storiesArtBotAI's generative AI functionality is driven by Omnicom's large language models, which it has created through partnerships with companies including Microsoft, OpenAI, Google, Getty, Adobe, and Amazon. KAITLIN MOERMANOmnicom said clients using ArtBotAI have, on average, achieved 40% increases in ad engagements like clicks and video views since they began using the platform. Omnicom stated in its February financial filings that its use of generative AI presents risks like ethical considerations, a negative impact on the public perception of the company, and the need to comply with various regulations.

Persons: —, ArtBotAI, ArtBot, Paolo Yuvienco, It's, Artbot, Yuvienco, Valerie Vargas, Alissa Hansen, KAITLIN MOERMAN Omnicom, Omnicom, Hansen, Ingo Duckerschein, Duckerschein Organizations: Service, Business, Apple, Unilever, Pfizer, Volkswagen, Omni, Omni Assist, Microsoft, Google, Getty, Adobe, Advertising, United Talent Agency, Agency, WPP, Intuit, Taboola Locations: North America

☆ Having Elon Musk as a boss is a tough gig — just ask X's Linda Yaccarino
▼ + stars: | 2024-07-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

This story is available exclusively to Business Insider subscribers. AdvertisementThe difficulties are reportedly creating tensions between Musk and X CEO Linda Yaccarino. Randall Peterson, a professor of organizational behavior at London Business School, told Business Insider that any company struggling like X would suffer leadership tensions. Leadership shake-upAmid the increasing financial pressure, Musk and Yaccarino have also been shaking up the company's leadership. X did not respond to a request for comment from Business Insider.

Persons: —, Musk, Linda Yaccarino, Randall Peterson, she's, Yaccarino, Jerod Harris, Mark Read, Steve Davis, Davis, Joe Benarroch, Nick Pickles, Matt Navarra, it's, Navarra, Gwynne Shotwell, Amanda Edwards, Peterson Organizations: Service, Elon Musk's, Twitter, Business, YouTube, London Business School, Times, Microsoft, Cannes Lions, WPP, Brit, Social, SpaceX, Investors

☆ Elon Musk's AI-driven plan for news on X is like 'old Twitter on steroids,' expert says
▼ + stars: | 2024-06-21 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

In short, Musk thinks social media posts can be aggregated into a real-time news feed using AI. However, using AI to curate a real-time news feed could come with some serious risks. 'Old Twitter on steroids'Nic Newman, of the Reuters Institute for the Study of Journalism at the University of Oxford, told Business Insider the model was reminiscent of pre-Musk Twitter. According to Musk, X "very quickly" corrects itself when misinformation is spread on the platform. AdvertisementMisleading 'experts'According to Musk, AI and the internet are already "aggregating the wisdom of the people."

Persons: —, Elon, Mark Read, Musk, Musk's, Nic Newman, Newman, they've, they're, Matt Navarra Organizations: Service, Cannes Lions, WPP, Business, Reuters Institute for, Journalism, University of Oxford, Twitter, Reuters Institute

Musk’s mission to CannesAs advertising moguls traveled to southern France this week for the Cannes Lions festival — an annual rosé-filled celebration of their industry — the biggest guest was someone who had crudely told many of them to get lost. Elon Musk and his top lieutenant, Linda Yaccarino, were on hand to persuade brands to return to X in a bid to bolster their beleaguered ad business. A reminder: At the DealBook Summit, he lashed out at advertisers who had pulled back from X after he had endorsed an antisemitic conspiracy theory. of the ad giant WPP, asked Musk about the incident onstage on Wednesday, the X owner responded that he wasn’t referring to all advertisers. “Advertisers have a right to appear next to content that they find compatible with their brands,” Musk said.

Persons: Elon Musk, Linda Yaccarino, Musk, Mark Read, ” Musk Organizations: Cannes, Cannes Lions, WPP Locations: France

☆ WPP CEO: X content moderation lives up to industry expectation
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWPP CEO: X content moderation lives up to industry expectationMark Read, CEO at WPP, discusses Elon's Musk's comments to advertisers at Cannes Lions and explains how the company are using AI in their latest innovations.

Persons: Mark Read Organizations: WPP, Cannes Lions

☆ Elon Musk really wants advertisers' money. But he also wants to keep tweeting. He can't have both.
▼ + stars: | 2024-06-20 | by ( Peter Kafka | ) www.businessinsider.com time to read: +6 min

His anti-revenue campaign reached its peak/nadir last fall, when he literally told advertisers to "go fuck yourself." And that's where Musk explained that when he told advertisers to go fuck themselves last year, he didn't mean all advertisers. "It was with respect to freedom of speech," he told Read. AdvertisementMeanwhile, the exodus of big brand advertisers has pushed Twitter ad rates way, way down. And I do shoot myself in the foot from time to time," he told Read.

Persons: —, Elon Musk, Mark Read, Musk, Read, Oliver Darcy, Joe Biden's, Donald Trump, Barack Obama, Joe, Puck, there's, It's Organizations: Service, Elon, Business, Cannes, WPP, Twitter, YouTube, Facebook, CNN, Associated Press, Washington Post, Democratic Party, Republicans, Google, Media Locations: France, Mexico, Washington

☆ Elon Musk is trying to woo advertisers after telling them to ‘go f–k yourself’
▼ + stars: | 2024-06-20 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

New York CNN —Elon Musk told advertisers last year to “go f**k yourself.” This year, he is showcasing a much different attitude. The erratic billionaire, realizing that he very much needs major advertisers to power X, was in the South of France on Wednesday, attending Cannes Lions, the world’s largest advertising festival. Put together, it’s is no mystery why major brands have taken their advertising dollars elsewhere. Musk even said at the time that the damage to X’s bottom line was so great, it could eventually kill the company. Musk likely does not want to see the platform go the way of the woolly mammoth, which is why he is now trying to woo advertisers back.

Persons: New York CNN — Elon Musk, Mark Read, Musk, —, ” Read, Andrew Ross Sorkin, hadn’t, “, ” Musk, X, it’s, ”, Joe Biden’s, Donald Trump Organizations: New York CNN, France, Cannes Lions, WPP, SpaceX, Associated Press, Washington Post, Democratic Party, Republicans Locations: New York, South, Israel, Mexico, Washington

☆ Elon Musk softens 'go f--- yourself' comment as he tries to woo advertisers back to the platform
▼ + stars: | 2024-06-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

At the Cannes Lions advertising festival in Cannes, France, Musk was asked by WPP CEO Mark Read why he told advertisers threatening to pull ads from the platform late last year to "go f--- yourself." Musk said it was meant as a general point on free speech rather than a comment to the wider advertising industry. "In some cases, there were advertisers who were insisting on censorship," Musk said. "We're going to support free speech rather than agree to be censored for money which I think is the right moral decision," he added. He was joined by Linda Yaccarino, X's CEO and former chairman of global advertising and partnerships for NBC Universal.

Persons: Musk, Elon Musk, Mark Read, Linda Yaccarino Organizations: Cannes Lions, WPP, Cannes, NBC Universal Locations: Cannes, France

☆ Elon Musk sure wants people to know he was the one to name OpenAI
▼ + stars: | 2024-06-19 | by ( Kiera Fields | ) www.businessinsider.com time to read: +1 min

Billionaire Elon Musk spoke to WPP CEO Mark Read in an interview at Cannes Lions on Wednesday. On the topic of the future of AI, Musk reminded the audience he cofounded OpenAI as a nonprofit. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk reminded the audience at Cannes Lions on Wednesday that he was the person to name OpenAI as he made a jab at the direction the company has taken since then. Musk took to the festival stage as a guest speaker in an interview with WPP CEO Mark Read, where he discussed technical innovation.

Persons: Elon Musk, Mark Read, OpenAI, —, Musk, Read Organizations: WPP, Cannes Lions, Service, Business

☆ Elon Musk really doesn't want to live forever
▼ + stars: | 2024-06-19 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Elon Musk isn't interested in living forever. In a recent interview, Musk said if people live too long they inhibit new ideas. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUnlike some of his contemporaries, Elon Musk isn't interested in living forever. "If we live for too long, I think it does ossify society.

Persons: Elon, isn't, Musk, —, Elon Musk isn't, hadn't, Mark Read Organizations: Service, Cannes Lions International, Creativity, WPP, Business

☆ Elon Musk is going to try courting advertisers. Again.
▼ + stars: | 2024-06-11 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Elon Musk, who has a ... complicated relationship with advertisers, is going to appear at a big ad conference. It's pretty standard for tech companies to court advertisers at the Cannes Lions event in France. AdvertisementLast fall Elon Musk told advertisers to go fuck themselves. Maybe he has a different message now: The man who bought Twitter, turned it into "X," and saw his advertising revenue plummet, is heading to the Cannes Lions ad summit in France next week. WPP, one of the world's biggest ad companies, said Musk will appear at an event with WPP CEO Mark Read on June 18.

Persons: Elon Musk, —, Mark Read Organizations: Cannes Lions, Service, Twitter, WPP Locations: France

☆ More than 100 business leaders including Wikipedia's Jimmy Wales sign open letter backing Britain's center-left opposition
▼ + stars: | 2024-05-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Labour's Shadow Chancellor of the Exchequer Rachel Reeves gives a speech on the British economy ahead of the Bank of England monetary policy release on May 07, 2024 in London, England. LONDON — More than 100 business leaders on Tuesday voiced their support for the U.K.'s center-left opposition Labour Party, nearly five weeks before the country heads to the polls. The group, which includes Wikipedia founder Jimmy Wales and former vice-chairman of JP Morgan Cazenove Charles Harman, said in an open letter to The Times newspaper: "We, as leaders and investors in British business, believe it is time for a change." The writers of the letter claim that the U.K. economy has suffered from a decade of stagnation amid a lack of both political stability and a long-term, consistent economic strategy. The Labour Party has "shown it has changed and wants to work with business to achieve the UK's full economic potential," they said.

Persons: Rachel Reeves, Jimmy Wales, JP Morgan, Charles Harman, Karen Blackett, Andrew Higginson Organizations: Bank of, Labour Party, The Times, WPP, JD Sports, British Retail, Tesco Bank, Heathrow Airport Locations: Bank of England, London, England

☆ Advertisers boost spending at retailers such as Walmart and Amazon as TV shrinks
▼ + stars: | 2024-05-24 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Global retail media ad spending is expected to more than double from $114.18 billion in 2023 to $233.89 billion in 2027, according to eMarketer. Retail media is expected to represent a larger percentage of digital advertising spending, which has begun to eclipse traditional media spending, growing from 18.9% of that segment in 2023 to 25.7% in 2027, according to eMarketer. "What we hear from brands most directly is they no longer wake up with a recipe to buy X amount of TV, X amount of social, X amount of digital. GSTV screens reach 115 million viewers per month across 49 states. "It's the new TV for mass reach advertising," said Mark Boidman, head of media and entertainment investment banking at Solomon Partners.

Persons: Sean McCaffrey, McCaffrey, Mark Boidman Organizations: Television, Facebook, Walmart, Kroger, WPP, Global, Brands, Solomon Partners Locations: eMarketer, It's

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