Business News

Omnicom, Publicis call off their proposed $35bn merger

U. S.-based advertising giant Omnicom Group Inc and its French competitor Publicis Groupe SA have scrapped their proposed merger.

The proposed $35 billion (£20.65 billion) merger would have created the world's largest advertising agency but the plan was scrapped after they estimated that potential challenges would prove too huge for them to handle.

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Centrica issues second profits warning in six months

British energy supplier Centrica on Thursday issued its second profits warning within the last six months, admitting its profits could be 10 per cent lower than market expectations this year.

Centrica also revealed that nearly 180,000 households in the UK had quit its domestic arm British Gas, while mild winter enabled its remaining customers to cut down on the heating bills.

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Supergroup posts 3.1% fall in like-for-like store sales; shares slip

Stock in SuperGroup suffered a steep decline on Thursday after the owner of the Superdry fashion brand reported fall in quarterly sales and warned that its annual profits would be towards the lower end of market expectations.

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Apple may acquire Beats for $3.2 billion

Cupertino, Calif.-based tech giant Apple Inc. is reportedly pursuing talks to acquire headphone maker & music-streaming service provider Beats Electronics for around $3.2 billion (£1.9 billion).

Emerging reports say that the acquisition, which could be announced as soon as next week, will be the Cupertino firm's biggest ever acquisition deal, if completed.

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EasyJet to use drones to inspect planes

British carrier EasyJet will soon start using drone technology/unmanned aerial vehicles (UAVs) to scan and assess its fleet of planes.

EasyJet on Thursday confirmed that it was modifying an unmanned drone in partnership with the Bristol Robotics Laboratory, CopterCraft and Measurement Solutions; and that trials of the technology could be started within the next few months.

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