Connect with us

Hi, what are you looking for?

Jewish Business News

Business

WPP Chief, Sir Martin Sorrell, Worried About Russian Sanctions

Sir Martin Sorrell / Getty

 

WPP, one of the world’s leading advertising firms which is a bellwether in the industry may suffer from Russian sanctions. Sir Martin Sorrell, who built the advertising giant from the bottom-up, indicated that sanctions will have a negative effect on businesses, and therefore, world economies.

Russia has kicked McDonald’s aside, but so have many, for health rather than political reasons. Companies like Carlsberg, which get a lion’s share of their revenues from Russia are likely to see hard times ahead.

Much of the European Union and the U.S. imposed sanctions on Russia for its aggressive movement into the Ukraine, and in retaliation, Russia has refused goods from certain countries. Sir Martin Sorrell says WPP has revised down forecasts in terms of marketing spend, but he insists “it remains a strong market.” He is less concerned about the effect on Britain than other countries: “Western continental Europe, particularly France and Italy, continues to raise some concern. Recent statistics on GDP growth, or lack of it in France, and negative growth in Italy, are troubling.”

The company will report earnings, which are expected to be flat with falling revenues. One bright spot is that WPP is likely to increase its dividend payout.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Advertisement
cialis cialis satış cialis