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Thursday newspaper round-up: Advertisers, pubs, Asda, Rolls-Royce

By Michele Maatouk

Date: Thursday 29 Oct 2020

Thursday newspaper round-up: Advertisers, pubs, Asda, Rolls-Royce

(Sharecast News) - Advertisers are cutting more than £700m from their marketing budgets in the run-up to Christmas, as the pandemic puts paid to the big budget extravaganzas that normally bombard the public over the festive season. While the annual Christmas advertising battle will be as fiercely fought as ever, with a total of £6.2bn spent across the fourth quarter, consumers are unlikely to see glitzy tie-ups such as Mariah Carey's reportedly £9m deal to promote Walkers festive-themed crisps last year. - Guardian

Coronavirus has had a "devastating" impact on the UK's pubs and will exacerbate the decline in the number of independent breweries - for the first time in nearly two decades - an influential consumer guide has warned. Thousands of pubs and breweries that survived the first lockdown are now fighting to stay afloat amid a slump in business following ongoing restrictions and curfews that could "make or break" the industry, according to the 2021 Good Beer Guide, published on Thursday by the Campaign for Real Ale (Camra). - Guardian

Ministers are scrambling to hire consultants who can offer emergency help to their central Covid-19 Task Force amid fears Whitehall will be overwhelmed by a winter coronavirus surge, according to documents seen by The Telegraph. The Cabinet Office has issued a request for consultants to help it respond "rapidly to any worsening Covid crisis" until at least March 2021. - Telegraph

The billionaire brothers seeking to buy Asda have been dealt a fresh blow after credit agency Moody's cut its rating on the debts of their petrol station empire further into junk territory. Zuber and Mohsin Issa's company EG Group was criticised by Moody's for failing to improve its financial reporting and management processes following a two-year acquisition spree. - Telegraph

Rogue advisers are targeting members of Rolls-Royce's gold-plated retirement scheme, prompting regulators to warn of the threat of a new pensions scandal. Rolls said in May that it was cutting 9,000 jobs as the aircraft engine-maker grapples with the fallout of Covid-19 on the aviation industry. - The Times


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