Morning Bulletin: Nintendo Switch, newspaper websites fall and Tesco trio on fraud rap
This morning sees much of the press dedicate coverage to the newly unveiled Nintendo Switch, an interchangeable console and tablet which hopes to carve out a niche alongside smartphones. We also look at an across the board decline in UK newspaper website traffic and the fate of three former Tesco executives on trial for fraud.
A trio of disgraced former Tesco directors are to stand trial for fraud next September according to Retail Week, after they were charged in relation to a £263m accounting scandal which rocked the grocer.
AdExchanger states that Publcis Groupe is ‘feeling the pinch’ after its organic growth rate flatlined in the third quarter, rising by just 0.2 per cent amidst economic anxiety over Brexit, the US election and a sudden rush of media reviews last year.
Banking giant Goldman Sachs is hoping to tempt millennials to fire in their CVs by conducting a customised Spotify advertising campaign across the US and UK.
Hotel reservations specialist Trivago is planning to go public by the end of November in the latest flotation of a big tech company. Business Insider reports that JPMorgan, Goldman Sachs and Morgan Stanley have been appointed to manage the bid, with analysts valuing the business at $5bn.
UK retail sales held up strongly over the summer after the sector posted its strongest performing quarter since late 2014 – despite the warm weather hitting fashion sales. The Office for National Statistics said that retail sales volumes grew by 1.8 per cent in the three months to September.
Britain’s battered press have suffered mixed fortunes since the summer Olympics reports the Guardian, with every single website owned by one of the UK’s national titles recording a dip in traffic - led by double digit declines at The Independent and Daily Star. Despite this the print sector proved more resilient with the Financial Times, Guardian, Observer and Sunday Times all increasing their circulation.
The Telegraph has the inside track on Jeremy Clarkson’s recent Whitby foray for The Grand Tour, which saw comedian Jimmy Carr take to a jet-ski before a dramatic crash into a boat, with the presenting trio also finding time to stop off for fish and chips.
Nestle has become the latest business to consider raising its prices, with famous brands such as KitKat, Nescafe and Aero in line for a hike to recoup losses incurred by a slide in the value of the pound.
Finally so-called ‘Fake Sheikh’ Mazher Mahmood has been convicted of conspiring to pervert the course of justice after he was found to have tampered with evidence in the collapsed drugs trial of singer Tulisa Contostavlos. He will be sentenced later today.