News

WPP cheered the City yesterday as its half-year profits surged almost 20 per cent to £429m and the advertising giant promised to keep raising the dividend.

Comment: Admen sell shareholders an old line on top pay

"One of the main functions of a chief executive is to earn value for shareholders. The idea that he needs to be incentivised to do it over and above a salary that would make most people green with envy, is ridiculous."

Williams in need of fresh impetus : CITY TALK

WILLIAMS HOLDINGS, the conglomerate created by Nigel Rudd and Brian McGowan, is the stock market's hottest sell, now that both founders have, in effect, turned their backs on it.

Sorrell set to earn dollars 22m pay package: WPP chief faces five-year windfall under new service contract

MARTIN SORRELL, chief executive of the advertising group WPP, could earn more than dollars 22.25m ( pounds 14.5m) over the next five years under the terms of a new service contract he has negotiated.

Banks to raise pounds 200m in WPP placing

WPP, the advertising group run by Martin Sorrell, said yesterday that a syndicate of 20 banks plans to sell 93 per cent of its holding in a pounds 200m placing this autumn, writes Russell Hotten.

Banks in pounds 200m WPP share sale

A SYNDICATE of 20 banks is planning to sell almost all its shares in WPP, the advertising group, in a pounds 200m international placing this autumn.

Sorrell hired out to WPP

MARTIN SORRELL, the controversial chief executive of WPP Group, is not a company employee even though he recreated it as an advertising group and was paid almost pounds 1m last year.

WPP chief's contract 'lasts too long'

THE DECISION by Maurice Saatchi, co-founder of the advertising agency Saatchi & Saatchi, to shorten his five-year rolling contract has put renewed pressure on his former finance director, Martin Sorrell, to follow suit.

Head to head in hard sell: Martin Sorrell came from nowhere and nearly went back there as WPP flirted with fame and failure before stabilising. But for Maurice and Charles Saatchi, once the big brothers of advertising, decline has proved even more emphatic, write William Kay and Neil Thapar

THEY were the colossi of the advertising world and he was just a jumped-up bean counter. But now Martin Sorrell is feted as the man who saved his group, WPP, while the Saatchi brothers seemingly languish in a corporate dead-end.

WPP may float 49% stake in market research

WPP, the advertising group, is considering selling half its market research business as part of a programme to cut its debt mountain.

View from City Road: WPP's new line in communication

WPP spent the second half of the 1980s building an international media group, and the first half of the 1990s struggling to survive under the mountain of debt and equity issues required to fund its o'er-leaping ambitions. Now, at last, it has worked out that its spread of businesses could be a valuable asset rather than a millstone.

Storehouse appoints two new directors

STOREHOUSE, owner of BhS, yesterday filled the last two gaps on its board with the appointment of Dick Steele from Lloyds Chemists as finance director and WPP's Martin Sorrell as a non-executive.

1993 portfolio beats market - despite Queens Moat

DESPITE some spectacular disasters - notably John Shepherd's tip of Queens Moat Houses - our staff investment portfolio performed relatively well last year. If you had invested pounds 1,000 in each of the 14 tips you would have shown a gain on your money of 27 per cent - and that's before taking account of any dividend income. Over the year, the FT-SE 100 share index rose 20 per cent.

Disposal dents WPP debt: Sale of New York agency for pounds 37m means relief for Sorrell

WPP, the world's largest advertising agency, has sold the majority holding in its New York agency Scali McCabe Sloves in a dollars 55.5m ( pounds 37m) deal to help cut its debt mountain.

City: Test at Tiphook

Robert Montague, chairman of Tiphook, the container leasing operation, has always deeply resented his popular image as one of the last of a dying breed of flashy 1980s entrepreneurs - it's not only a cliche, it's wrong, he says. Well, perhaps, but it is hard to resist. In an age of belt-tightening and austerity, Mr Montague still has a yacht, pays himself nearly pounds 1m a year, and his now unprofitable company possesses a jet. He loves shooting and generally gallivanting around. To complete the picture, it now looks to the outside world as if he and his company are about to go down the tubes.

WPP beats profit estimates with advance to pounds 24m: Strong performances in US and Far East overcome conditions

A SHARP cut in interest costs and higher revenues amid difficult trading conditions helped WPP, the debt-laden advertising group, to boost profits thirteenfold in the half-year to 30 June.
News
Susan Sarandon described David Bowie as
peopleSusan Sarandon reveals more on her David Bowie romance
Sport
sportDidier Drogba returns to Chelsea on one-year deal
News
people
Arts and Entertainment
Christian Grey cradles Ana in the Fifty Shades of Grey film
filmFifty Shades of Grey trailer provokes moral outrage in US
Sport
Louis van Gaal would have been impressed with Darren Fletcher’s performance against LA Galaxy during Manchester United’s 7-0 victory
football
Voices
The new dawn heralded by George Osborne has yet to rise
voicesJames Moore: As the Tories rub their hands together, the average voter will be asking why they're not getting a piece of the action
Sport
Dejan Lovren celebrates scoring for Southampton although the goal was later credited to Adam Lallana
sport
News
newsComedy club forced to apologise as maggots eating a dead pigeon fall out of air-conditioning
Arts and Entertainment
Jo Brand says she's mellowed a lot
tvJo Brand says shows encourage people to laugh at the vulnerable
Life and Style
People may feel that they're procrastinating by watching TV in the evening
life
Career Services

Day In a Page

Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
Lake Maggiore, Orta and the Matterhorn – seven nights from £899pp
Sicily – seven nights from £939pp
Pompeii, Capri and the Bay of Naples - seven nights from £799pp
Istanbul Ephesus & Troy – six nights from £859pp
Mary Rose – two nights from £319pp
Backhanders, bribery and abuses of power have soared in China as economy surges

Bribery and abuses of power soar in China

The bribery is fuelled by the surge in China's economy but the rules of corruption are subtle and unspoken, finds Evan Osnos, as he learns the dark arts from a master
Commonwealth Games 2014: Highland terriers stole the show at the opening ceremony

Highland terriers steal the show at opening ceremony

Gillian Orr explores why a dog loved by film stars and presidents is finally having its day
German art world rocked as artists use renowned fat sculpture to distil schnapps

Brewing the fat from artwork angers widow of sculptor

Part of Joseph Beuys' 1982 sculpture 'Fettecke' used to distil schnapps
BBC's The Secret History of Our Streets reveals a fascinating window into Britain's past

BBC takes viewers back down memory lane

The Secret History of Our Streets, which returns with three films looking at Scottish streets, is the inverse of Benefits Street - delivering warmth instead of cynicism
Joe, film review: Nicolas Cage delivers an astonishing performance in low budget drama

Nicolas Cage shines in low-budget drama Joe

Cage plays an ex-con in David Gordon Green's independent drama, which has been adapted from a novel by Larry Brown
How to make your own gourmet ice lollies, granitas, slushy cocktails and frozen yoghurt

Make your own ice lollies and frozen yoghurt

Think outside the cool box for this summer's tempting frozen treats
Ford Fiesta is UK's most popular car of all-time, with sales topping 4.1 million since 1976

Fiesta is UK's most popular car of all-time

Sales have topped 4.1 million since 1976. To celebrate this milestone, four Independent writers recall their Fiestas with pride
10 best reed diffusers

Heaven scent: 10 best reed diffusers

Keep your rooms smelling summery and fresh with one of these subtle but distinctive home fragrances that’ll last you months
Commonwealth Games 2014: Female boxers set to compete for first time

Female boxers set to compete at Commonwealth Games for first time

There’s no favourites and with no headguards anything could happen
Five things we’ve learned so far about Manchester United under Louis van Gaal

Five things we’ve learned so far about United under Van Gaal

It’s impossible to avoid the impression that the Dutch manager is playing to the gallery a little
Screwing your way to the top? Good for Lana Del Rey for helping kill that myth

Screwing your way to the top?

Good for Lana Del Rey for helping kill that myth, says Grace Dent
Will the young Britons fighting in Syria be allowed to return home and resume their lives?

Will Britons fighting in Syria be able to resume their lives?

Tony Blair's Terrorism Act 2006 has made it an offence to take part in military action abroad with a "political, ideological, religious or racial motive"
Beyoncé poses as Rosie the Riveter, the wartime poster girl who became a feminist pin-up

Beyoncé poses as Rosie the Riveter

The wartime poster girl became the ultimate American symbol of female empowerment
The quest to find the perfect pair of earphones: Are custom, 3D printed earbuds the solution?

The quest to find the perfect pair of earphones

Earphones don't fit properly, offer mediocre audio quality and can even be painful. So the quest to design the perfect pair is music to Seth Stevenson's ears
US Army's shooting star: Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform

Meet the US Army's shooting star

Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform