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Blog Archives: Nigel Phillips

Breaking News

Amanda Burningham, former ideation director at UM, has been appointed by Carat as an associate director in its sponsorship department. Burningham will head up a team of six in the sponsorship team, with clients such as Kellogg, Beiersdorf, Debenhams and Lego. Sander Volten, the managing director of digital for Europe for Euro RSCG, and three Euro RSCG 4D Amsterdam executives are quitting the network to launch a start-up. Sicco Beerda, Bram de Rooij and Eric Ytsma have all quit Euro RSCG 4D for the new agency, which does not yet have a name. All four will be in place by 1 August. Interpublic has appointed Matt Freeman, chief executive of Mediabrands Ventures, to the position of vice-chairman, global chief innovation officer of Interpublic creative agency, McCann Erickson. The move comes as IPG realigns Mediabrands, the holding group for media agencies Initiative and UM, under the wider Mediabrands Ventures network, which includes all the company’s other media businesses. BANK OF AMERICA CORP The company said Chuck…

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Financial Focus

Fears over inflation in China prompted another rise in the amount that banks are forced to hand over as reserves yesterday. The reserve ratio requirement (RRR) was hiked by 0.5% to 20.5% last night, to be effective from 21st April. It marked the fourth 0.5% increase in this year, and seventh since November. The RRR hike will lock up about 350bn yuan (£32.8bn) of cash that banks would otherwise be able to lend. Portugal's 85bn rescue could be delayed by a surge of EU bailout resistance in Finland, where the eurosceptic True Finns looked on course for a stunning result by taking 19% of the vote in parliamentary elections last night, making it likely the party could be part of a new coalition government. Finland is unusual among Eurozone states in requiring a majority parliamentary vote for major decisions regarding the EU, and the Eurozone’s current temporary bailout facility requires a unanimous vote of all 17-member states to dispense aid. SAUDI Arabia’s oil minister said…

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Breaking News: Out with a Cillit Bang…

Bart Becht is retiring from his role as chief executive of Reckitt Benckiser after 12 years and will be replaced by marketer Rakesh Kapoor, executive vice president and global category manager. Kapoor will take over on 1 September. Becht will stay on as a part-time adviser until September 2012 to ensure a smooth transition. Bauer Media has appointed Joe Barnes, currently editor of Front magazine, as editor of its men's lifestyle magazine FHM. Barnes, who will take up the post on 13 June, joined Front as news editor in 2005, before being appointed editor in 2006. Debenhams chief executive Rob Templeman is retiring after eight years at the company and will be replaced by deputy chief executive Michael Sharp. Adam & Eve has hired Aidan McClure and Laurent Simon, the creative team behind the award-winning "polar bear" cinema ad for the climate change charity Plane Stupid. The pair join Adam & Eve from Abbott Mead Vickers BBDO and will work across the agency's client list.…

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Financial Focus

The first quarter of this year could be as good as it gets for British economic growth until at least 2013 according to a Reuters poll. For a third month running, analysts trimmed back their full year growth forecast for 2011 to 1.5% from 1.6%. After largely signaling a strong start to the year, British economic indicators from recent weeks have looked confusing and even contradictory. SINGAPORE’S third monetary policy tightening in a year may prompt Asian central banks to allow further interest-rate and currency gains to prevent surging prices from hurting their economies. The islands dollar, the nation’s main tool to manage inflation, will be allowed to rise further, the Monetary Authority of Singapore said yesterday. EUROPEAN debt markets were reeling in yesterdays afternoon trade as a number of press reports suggested that Greece and possibly Ireland may default on some of their debt repayments in the months ahead. That added to a flurry of bad news weighing on global stock markets and helped…

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Breaking News

Matalan is set to announce the appointment of former Asda executive Darren Blackhurst as its new chief executive, according to reports. Blackhurst was in the running for the top job at Asda, but lost out to current boss Andy Clarke, prompting his departure last year. Matalan is currently without a permanent chief executive after Alistair McGeorge left in September last year. Bart Becht is retiring from his role as chief executive of Reckitt Benckiser after 12 years and will be replaced by marketer Rakesh Kapoor, executive vice president and global category manager. Kapoor will take over on 1 September. Becht will stay on as a part-time adviser until September 2012 to ensure a smooth transition. BMO FINANCIAL GROUP BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group , appointed President Eric Tripp to a new role that centralizes balance sheet and risk management across business lines. Patrick Cronin, currently heading both financial products and debt products groups, was appointed head of…

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Financial Focus

President Obama proposed slashing the US budget deficit by $4tn over 12 years with a mix of spending cuts and tax rises. His plan includes $3 in spending cuts and interest savings for every $1 from tax increases. Republicans argued that it did not go far enough to reduce the $14 trillion US debt, and reiterated their opposition to any tax increases. A US SENATE panel official report on Wall Street’s role in the financial crisis accuses Goldman Sachs of misleading clients and manipulating markets. It also criticises Deutsche Bank and credit rating agencies Moody’s and Standard & Poors. The report will be presented to the US Justice Department and the Securities and Exchange Commission. BRITAIN’S labour market has rallied in recent months, official data unexpectedly revealed yesterday. Employment shot up by 143,000 from December to February, compared to the previous three months, the ONS revealed. Unemployment is down to 7.8%, having dropped by 17,000 over the same period. CONSUMER confidence in the UK picked…

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The perils of social networks

In a recent article, Cary Cooper, professor of organisational psychology, at Lancaster University Management School, looked at the increased ability of recruiters to conduct online searches on potential candidates, before offering an interview. They may be looking for examples of work or sporting success, but perhaps they could be looking for something to trip a candidate up; a dodgy entry on Facebook, or an incautious tweet. Luci Baldwin, IPC recruitment manager, says constructive and positive statements will help a candidate; "Evidence of involvement in community activities, a presence on a business network, like LinkedIn, anything that shows good communication skills, are attributes we look for." Baldwin says: "Written material should be positive and error-free. Anything constructive and memorable can go a long way to supporting an individual application." Rod Bailey, CEO of ExecutiveSurf, says how you portray yourself on social networks is of great imortance. "I'd estimate one in ten jobs currently come from LinkedIn, and many companies use it as their sole source." So…

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Financial Focus

UK inflation surprisingly slowed to 4% in March, down from February’s 28-month high of 4.4%. Food prices, which dropped by a record 1.4% from February to March, were largely cited for the decline. Core inflation, which excludes food, energy, alcohol and tobacco, dipped from 3.4% in February to 3.2% last month. The Retail Price Index fell and the Tax and Prices Index, each fell by 0.2%, to 5.3% and 5.8% respectively. THE RATE at which the private sector in London took on staff hit its quickest pace for almost three years in March, a survey by Lloyds TSB and Markit revealled. The jobs market also grew for a second consecutive month for the first time since last April. The capital’s service-driven economy helped to boost employment, as the sector continued to take on new staff. EXPORTS beyond the European Union helped narrow the UK’s trade gap to £2.4bn in February, in from £3.9bn in January. The deficit in visible goods traded dropped to £6.8bn, a…

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Breaking News

Rufus Radcliffe, marketing controller for Channel 4, has been appointed group marketing and research director at ITV, replacing group marketing director David Pemsel who left last year. Radcliffe will take charge of ITV’s marketing strategy and brand development across all platforms, and will oversee the viewer and trade marketing teams, media planning, ITV Creative and continuity, as well as research and customer insight.   EBay Advertising has hired Paul Nunn in the newly created role of strategic account director in the multinational sales team. Nunn will focus on supporting eBay Advertising's multinational network and will be a key contact for international agencies and clients.   Giles Ivey, the former digital sales director at BSkyB, has been appointed as managing director of online advertising network Say Media, formerly VideoEgg. Ivey will take up the post at the end of the month and be responsible for beefing up the company’s UK operation and expanding into Europe in the next 18 months.   Andy Jonesco, the former managing…

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Financial Focus

At least seven people were killed and dozens injured on Monday when a powerful explosion ripped through a metro station in Minsk, the capital of Belarus. The attack came amid an unprecedented political crackdown on the opposition in Belarus, a country that the United States has called Europe's last dictatorship. JAPAN raised the severity rating of its nuclear crisis to the highest level, matching the 1986 Chernobyl disaster, after increasing radiation prompted the government to widen the evacuation zone and aftershocks rocked the country. GLOBAL banking regulation took a step towards convergence on Monday as a UK commission proposed measures that will bring the country’s financial rules closer to the US, reducing fears that British lenders will flee London for New York. The ICB recommended that banks' retail operations should be protected by a “firewall” from the investment banking division, and that retail activities should maintain a standalone capital ratio of 10%. SPENDING on the UK high street fell at a record rate last month,…

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