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Take a step back, and these numbers show that amazon, along with the other big names in tech, are starting to bounce back after a tough 2022. to the world of advertising now, and another set of results fundamentally linked to the tech world. the world s biggest ad firm wpp have downgraded their outlook for the year flagging lower spending from the us. moving from predictions of 5% growth halving them to more like 1.5 to 3%. alice enders from enders consulting explained what s behind the numbers. i think what we re seeing is, you know, the outcome of their own results. we just heard about apple having its revenue decline. and of course, in that context, you know, the watchword on wall street and just about everywhere is efficiency. so, of course, if you re cutting headcount, you re also going to be cutting marketing budgets. ....
And of course, the general context of the world economy and demand for these products, and in particular, of course, the advertising products is bound to be lower than anticipated at the beginning of the year by wpp. to china now where there are signs that their trade war with australia is cooling as beijing has agreed to drop 80% tariffs on australian barley. now these tariffs were introduced back in may 2020 in a move widely thought to be a response to australia calling for an international inquiry into the origins of the coronavirus pandemic. relations between the two have improved since australian prime minister, anthony albanese, took office last may. our china correspondent, stephen mcdonnel, has the details. china dropping its tariffs on australian barley may not sound like a lot in many countries, but what it represents is a major step forward for trade relations ....
Communications services companies down after mixed earnings. Advertising agency conglomerate WPP cut its profit projections for the year, citing softening. ....
WPP plc (NYSE:WPP – Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $53.52, but opened at $50.85. WPP shares last traded at $50.68, with a volume of 41,674 shares. Analysts Set New Price Targets Separately, StockNews.com downgraded WPP from a “buy” rating to a […] ....