"Shares in advertising group WPP fell to their lowest level since 1998, after the FTSE 100 group slashed its revenue guidance for the year and its new chief executive Cindy Rose said its recent performance has been unacceptable. The former Microsoft executive has announced a review of the business, saying she was taking action to address the unacceptable performance at the company, which has struggled to stem a growing exodus of clients and compete with the AI and data capabilities of its rivals."
"Over in Frankfurt, the European Central Bank kept interest rates on hold on Thursday for the third meeting in a row despite concerns that a modest economic recovery across the eurozone would fuel inflation. The ECB kept its key deposit rate at 2% despite annual price growth rising to 2.2% across the 20-member euro bloc in September, up from 2% in August and 1.7% a year earlier."
"Virgin Trains is now on track to challenge Eurostar cross-Channel monopoly after the UK rail regulator approved its application to use a key depot in east London. The Office of Rail and Road (ORR) approved Virgin's application to use the Temple Mills depot in Leyton which is used for maintaining and storing trains. It said this would unlock 700m of investment in new services and create 400 jobs."
WPP shares dropped to their lowest level since 1998 after the company cut revenue guidance and new chief executive Cindy Rose described recent performance as unacceptable, launching a business review. The company faces a growing exodus of clients and struggles to match rivals' AI and data capabilities. The European Central Bank left its key deposit rate at 2% for a third consecutive meeting despite eurozone inflation rising to 2.2% and EU inflation to 2.6%, citing resilient labour markets and strong private sector balance sheets. The ORR approved Virgin Trains' use of Temple Mills, unlocking 700m in investment and creating 400 jobs to challenge Eurostar.
Read at www.theguardian.com
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