WPP buys tech firm Satalia, EasyJet taps Stephen Hester as new chair
London open
The FTSE 100 is expected to open 53 points higher on Monday, having closed up 0.41% at 7,087.90 on Friday.
Stocks to watch
WPP said it had bought Satalia, a technology company offering artificial intelligence solutions for clients, for an undisclosed sum. Satalia’s clients include BT, DFS, DS Smith, PwC, Gigaclear, Tesco and Unilever. The company builds technologies that helps clients change their business strategies and improve operational efficiency, WPP said on Monday.
EasyJet announced the appointment of Stephen Hester as a director and chair designate on Monday. The FTSE 250 airline said the ex-RSA chief executive would join the board as a non-executive director on 1 September, and then would succeed John Barton as its chair on 1 December. It said Barton was standing down from the board at that point, having served almost nine years as chairman.
Newspaper round-up
The UK’s most deprived areas have more than 10 times the number of betting shops than the most affluent parts of the country, research shows. Gambling venues are concentrated in the most deprived areas of Britain, against the wishes of people who live nearby, according to a report commissioned by the Standard Life Foundation charity. “Those with the least resources are being targeted more,” the report says. - Guardian
Desperate food manufacturers are pleading with the government to be able to call upon prisoners to solve a labour crisis blamed on the double blow of Brexit and Covid. The Association of Independent Meat Suppliers, which represents butchers, abattoirs and processors, said it had a call set up with the Ministry of Justice on Monday that would explore how its members could recruit more current inmates and ex-offenders. - Guardian
A British biotech helping Vectura to develop an inhalable Covid-19 drug is issuing a staunch defence of the company’s £1.1bn takeover by Philip Morris, claiming blocking the deal would leave the tobacco firm “no choice but to continue its bad practices”. London start-up Inspira Pharmaceuticals emerged from stealth mode earlier this year to announce it had signed a deal with asthma technology firm Vectura. The pair are working on creating an inhalable version of Inspira’s Covid-19 treatment and are planning to kick off human trials for the treatment next year. - Telegraph
The nightclub sector claimed yesterday that there were “clear signs” of a slowdown in bookings from the end of next month amid conflicting signals from the government over vaccine passports. While the prime minister had indicated that full vaccination would be required for entry to large venues, a letter on behalf of Sajid Javid, the health secretary, suggested that “no final policy decision has yet been taken”. - The Times
The government is being urged to look at financial and broadcasting regulations that appear to be restricting mainstream television from producing educational or informative programmes on stock market investment. Lord Lee of Trafford, the former Conservative minister, has tabled a parliamentary question in response to the upsurge in day trading on stock markets and investment in bitcoin and other cryptocurrencies. - The Times
US close
Stocks closed in positive territory on Wall Street on Friday, with the Dow Jones Industrial Average up 0.65% at 35,120.08.
The S&P 500 added 0.81% to 4,441.67, and the Nasdaq Composite advanced 1.19% to 14,714.66.