Sales & Marketing news

• BlackRock CEO Larry Fink says companies should go public sooner as the market rebels against the likes of Uber and WeWork

  15-10-2019 16:48 via feedproxy.google.com
  Companies should be going public sooner, BlackRock CEO Larry Fink said on CNBC Tuesday. 
  The head of the largest asset manager said there was too much money being poured into private growth valuations, and now they're being "reset."Several cash-burning companies like Uber raised billions in private venture funding reaching massive valuations before stumbling in the public markets following their initial public offerings.
  WeWork — another money-losing unicorn — wasn't even able t
  
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• Saudi Aramco is reportedly shelling out a whopping $450 million on adviser fees for its upcoming IPO

  15-10-2019 16:16 via feedproxy.google.com
  Arabian oil giant, Saudi Aramco is reportedly shelling out hundreds of millions to advisors for its upcoming IPO. 
  Bloomberg, citing sources familiar with the situation, said that Aramco was paying up to between $350 million to $450 million in fees to advisors from more than 20 different banks. 
  Bloomberg added that JPMorgan and Morgan Stanley were expected to be paid the most. 
  View Markets Insider's homepage for more stories.
  Saudi Aramco, the Middle Eastern oil-giant, is curren
  
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• The impact of Diageo’s effectiveness focus: Marketing spend is no longer first to be cut

  15-10-2019 16:14
  Diageo has described as “profound” the shift in the belief in marketing across the business, and among its stakeholders, after embedding its effectiveness platform Catalyst throughout its marketing teams.
  Catalyst was launched two years ago with the aim of providing marketers with instant data that would help them make planning and strategic decisions on how and where to invest. The plan, as Diageo’s global marketing effectiveness director Adam Ben-Yousef highlights, was to cre
  
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• Wells Fargo posts earnings miss driven by $1.6 billion expense linked to scandals (WFC)

  15-10-2019 16:05 via feedproxy.google.com
  Wells Fargo missed third-quarter earnings estimates after posting a continued drop in net interest income.
  The bank cited the "lower interest rate environment" for the figure's decline. Wells Fargo stock fell as much as 1.2% following the report's release.
  Wells Fargo also announced a $1.6 billion expense related to its sales malpractice litigation. The bank remains steeped in controversy following its 2016 fake account scandal.
  The firm recently ended its months-long search for a new CEO in Sep
  
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• The benefits of being a globetrotting marketer

  15-10-2019 15:52
  Every time Martina Poulopati Gerhard, global marketing and communications director at Essity, has taken on a new role it has meant moving countries.
  Her career began at McCann Erickson in Athens as an account executive, before a trans-Atlantic switch to McCann in San Francisco. Poulopati Gerhard describes her decision to work in the US as a “life-changing move” as it opened her eyes to the diversity of different cultures and “liberal, open-minded ideologies”.
  “The w
  
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• Crystal animals, Louis Vuitton luggage, and a trip to Las Vegas: Deutsche Bank reportedly showered China's elite with lavish gifts to win business

  15-10-2019 14:45 via feedproxy.google.com
  Deutsche Bank showered China's elite with lavish gifts, hired their unqualified family members, and splurged millions on well-connected consultants to build its presence in the country, according to the New York Times.
  The German lender spent more than $200,0000 on decadent presents, hired more than 100 relatives of the Communist Party's leadership, and paid seven consultants more than $14 million to set up meetings and help it win business, the report found.
  The gifts included crystal animals,
  
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• Citigroup posts strong trading results amid layoffs, beats profit estimates (C)

  15-10-2019 14:21 via feedproxy.google.com
  Citigroup reported third-quarter earnings on Tuesday morning before the opening bell.
  Both revenue and earnings per share outperformed Wall Street expectations.
  The firm saw trading results slip just 1% amid hundreds of layoffs, beating expectations for a 4% decline.
  The bank also reported fixed-income trading revenue that beat estimates and equities trading revenue that fell short of forecasts. 
  Watch Citigroup trade live.
  Citigroup joined its Wall Street competitors JP Morgan and Goldman
  
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• How rewards programs for the rich could push credit-card costs higher — even though interest rates are falling

  15-10-2019 14:11 via feedproxy.google.com
  While interest rates plateaued and then moved steadily lower this year, credit card costs have headed in the opposite direction.  
  Banks have increased credit card interest rates to mark up for profit losses from increasingly generous rewards programs, according to the Wall Street Journal.
  Perks like free travel have helped push the average annual percentage rate on credit cards up to nearly 17% in August, its highest level in at least 25 years. 
  Visit Business Insider's homepage
  
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• Goldman Sachs' quarter soured by disappointing banking revenue, write-downs for Uber and other investments (GS)

  15-10-2019 14:06 via feedproxy.google.com
  Goldman Sachs reported third-quarter earnings before markets opened on Tuesday.
  The bank traded as much as 1.9% lower after missing analyst estimates for quarterly earnings per share. It also posted a decline in investment-banking revenue.
  Goldman said it took a $267 million markdown on public investments in companies like Uber and Tradeweb Markets.
  Watch Goldman Sachs trade live here.
  Goldman Sachs reported third-quarter earnings that missed analyst estimates on Tuesday morning. The firm also r
  
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• A fund manager who's averaged a 16% annual return since the financial crisis shares his 'secret weapon' — and unpacks 3 stocks driving his success

  15-10-2019 14:05 via feedproxy.google.com
  Ronald Zibelli, a fund manager at Invesco, has outperformed most of his peers and delivered a 16% annual return since 2009 by hunting for "premier growth" companies.
  In an exclusive interview with Business Insider, he detailed three stocks driving his performance today, and discussed how the dot-com bubble shaped his investing process.
  Click here for more BI Prime stories.Ronald Zibelli will never forget the dot-com boom. 
  His fondest memory is not the frenzy that inflated the bubble, nor i
  
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• JPMorgan beats expectations in its third quarter earnings with record revenue

  15-10-2019 13:24 via feedproxy.google.com
  JPMorgan Chase beat its expectations in its 3rd quarter earnings, which were released on Tuesday morning, as reported record revenues of $29.3 billion. 
  The bank's Markets revenue was $5.1 billion, up 14% and Fixed Income Markets was $3.6 billion, up 25% compared to the prior year which reflected less favorable market conditions.
  View Markets Insider's homepage for more stories. 
  JPMorgan Chase beat expectations on Tuesday, as the bank released its third-quarter results, posting $2.68
  
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• BlackRock beat earnings expectations as technology services drive growth in a 'volatile' market

  15-10-2019 13:01 via feedproxy.google.com
  BlackRock saw its total assets climb to about $7 trillion, up 8% year-over-year.
  In its third-quarter earnings, released Tuesday, the world's largest asset manager boasted growing revenues in the wake of a "volatile" global market, however, the firm's profits were down 8%. 
  CEO Larry Fink said that clients have entrusted $350 million worth of new assets in the last year to the firm "technology services revenue."The world's largest asset manager is getting bigger.
  BlackRock said its total as
  
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• WeWork is reportedly favoring JPMorgan over SoftBank to bail out the buckling real-estate firm

  15-10-2019 12:35 via feedproxy.google.com
  WeWork would rather have JPMorgan help refinance the struggling real-estate company than allow SoftBank to take a controlling stake, according to Bloomberg.
  Citing anonymous sources, Bloomberg said a $5 billion refinancing package by JPMorgan was the preferred option, which may include $2 billion of unsecured payment-in-kind with a 15% coupon.
  Earlier this week it was reported SoftBank could take control of WeWork at a valuation below $10 billion, a fraction of what the Japanese investment firm
  
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• The UK's once star fund manager Neil Woodford was dealt another blow as his equity fund gets shut down

  15-10-2019 11:47 via feedproxy.google.com
  The fall from grace for Neil Woodford, once the UK's best-known stock pickers, reached a climax on Tuesday after the fund was shuttered. 
  Woodford's fund, which once managed $10 billion worth of assets, slammed shut in June, leaving investors unable to pull their capital from the fund, after a series of bad stock picks by the firm left it with just under $4 billion under management. 
  Woodford will cease control, and the call has been made to "wind it up as soon as practicable," the sta
  
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• Marketoonist on diversity of ideas

  15-10-2019 11:42
  Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne
  See more of the Marketoonist here
  The post Marketoonist on diversity of ideas appeared first on Marketing Week.
  
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• WeWork is reportedly cutting 2,000 jobs as soon as this week, with the staff turning against Adam Neumann

  15-10-2019 10:15 via feedproxy.google.com
  WeWork is set to cut at least 13% of its workforce, or roughly 2,000 jobs, according to the British newspaper The Guardian.
  The paper also reports that the company's workers have started to turn on WeWork's founder and former CEO, Adam Neumann, and that little or no work is getting done because of WeWork's uncertain financial position.
  "The atmosphere is toxic," an anonymous staff member told the newspaper. "A lot of people worked so hard for this company. We thought we were in on something real
  
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• F&F’s strategy to get in more Tesco baskets

  15-10-2019 08:26
  As the “supermarket woman” evolves, so too is Tesco-owned clothing brand F&F, which is on a mission to get itself into more Tesco baskets and out into the high street fashion sphere.
  Integral to this has been aligning itself much more closely with the core Tesco brand. It now uses Tesco Clubcard data and has launched a marketing campaign to show people that the days of poorly-designed, slightly itchy supermarket clothes are “long gone”.
  “It’s about creatin
  
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• Helen Edwards: ‘Buccaneering’ British business is just a political fantasy

  15-10-2019 08:00
  The Brexit torment of the past 40 months has produced a mini-lexicon of frequently repeated words that we once might barely have used in a lifetime: backstop, yellowhammer, prorogation.
  But the one that mystifies me is the adjective that surfaces when pro-Leave politicians advise on the attitude with which British business should now go out into the world: ‘buccaneering’.
  Who’s used it? Who hasn’t.
  In his Conservative Party leadership campaign, the now foreign secretary D
  
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• ‘Buccaneering’ British business is just a political fantasy

  15-10-2019 08:00
  The Brexit torment of the past 40 months has produced a mini-lexicon of frequently repeated words that we once might barely have used in a lifetime: backstop, yellowhammer, prorogation.
  But the one that mystifies me is the adjective that surfaces when pro-Leave politicians advise on the attitude with which British business should now go out into the world: ‘buccaneering’.
  Who’s used it? Who hasn’t.
  In his Conservative Party leadership campaign, the now foreign secretary D
  
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• The real reason IPOs are flopping is the lack of startup transparency, some experts say. And they worry that a new SEC rule could make things worse

  15-10-2019 02:33 via feedproxy.google.com
  While Silicon Valley VCs blame Wall Street's dominant role in IPOs, corporate governance experts say rules that allowed startups to withhold more information was a cause of recent flops
  They cite the impact of the Jumpstart Our Business Startups Act -- or the JOBS Act -- which allowed startups to file for an IPO confidentially and withhold more information about their financials.
  They worry that an SEC proposal to open up private markets could make the problem with the lack of transparency worse
  
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• Small-town India goes shopping on Instagram

  15-10-2019 01:30 via warc.com
  India’s Instagram users overwhelmingly say their shopping choices are influenced by what they see on the social media platform, a new study finds.
  
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• Samsung Electronics America focuses on marketing experiences

  15-10-2019 01:30 via warc.com
  Samsung Electronics America, the electronics manufacturer, is focusing on marketing experiences as a powerful means of engaging consumers, especially millennials and members of Gen Z.
  
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• How the rise of companion podcasts caught everyone off guard

  15-10-2019 01:30 via warc.com
  The appetite for podcasts continues to grow, but the latest hit – audio accompaniments to hit TV shows and movies – has opened up a huge new sub-genre.
  
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• FT sees revenue boost post-GDPR

  15-10-2019 01:30 via warc.com
  The Financial Times’ digital ads strategy following the introduction of the General Data Protection Regulation appears to have been a formula for success, bringing about a healthy spike in programmatic ad revenue.
  
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• Four trends in China’s luxury market

  15-10-2019 01:30 via warc.com
  With China a crucial market for global luxury, brands and retailers need to be alert to shiftsin consumer behaviour; Jing Daily identified several trends from the recent Golden Week holiday.
  
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• Bring marketing back to its original purpose: LEGO’s Goldin

  15-10-2019 01:30 via warc.com
  The rise of performance marketing and short-termism means that that today’s marketers often lack the necessary skills to address core marketing principles of brand building and creating long-term value, according to LEGO CMO Julia Goldin.
  
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