“The British Retail Consortium announced that there would be up to 900,000 job losses”
In the news:
Good Week: Diversity
After the controversy surrounding this year’s Oscars, Star Wars director and co-writer JJ Abrams has introduced a diversity quota at his company, Bad Robot, to ensure that women and people from ethnic minorities are fairly represented. Bad Robot will work with its agency partner CAA and studios Warner Bros and Paramount to ensure that the company works with directors, writers and actors in direct proportion to their representation among the US population.
Bad Week: Facebook
Following heavy criticism for only paying £4,327 in corporation tax in the UK in 2014, Facebook is now set to pay millions following an overhaul of its tax structure. It will no longer route sales through Ireland for its largest advertisers including Tesco, Sainsbury’s, Unilever and WPP. Facebook’s first higher tax bill will be paid in 2017 after the changes are made this April.
Good Week: Print media
Trinity Mirror’s new national newspaper New Day is thought to have sold 150,000 copies in its first two days as a paid for title. On its first day when the title was free, its estimated 1.5million people picked up the new 40-page newspaper. Trinity Mirror is aiming for 200,000 copies to be sold per day.
Bad Week: The Retail Sector
It was a bad week for the retail sector as the British Retail Consortium announced that there would be up to 900,000 job losses and the closure of thousands of shops in the next ten years. The BRC warned that rising costs due to the national living wage and the apprenticeship levy would increase the rate of job cuts.
The news that Bank of London and the Middle East (BLME) has acquired Renaissance, a provider of asset based finance to SMEs, was covered by Reuters and a number of UK trade outlets, including CPI Financial. Last year, asset based lending hit £29bn in the UK.
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Next week we’ll be attending an event to learn more about broadcast media and the role PR can play in providing content.