Pound on worst run since March 2020 with UK economy ‘close to stalling’; some Gatwick strikes suspended – as it happened
UK private sector growth slowed to six-month low this month, while DHL workers have cancelled Gatwick strikes and other strikes are suspended
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Back in the City, shares in digital advertising and marketing services business S4 Capital have tumbled by around a fifth after it cut its revenue and profit forecasts this morning.
S4, founded by Sir Martin Sorrell five years ago, told shareholders that net revenue in the second quarter of this year had been below budget", which it blamed on challenging macroeconomic conditions.
Based on our preliminary review of the H1 results, Technology services continues to perform well, Data&digital has seen growth slow compared to 2022, but is trading satisfactorily, while Content has had a more difficult period generating results below our budget.
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