Today, we woke up to the news that the owner of the Daily Mirror is in talks to buy the owner of the Daily Express and Daily Star. Trinity Mirror hopes to buy all of the publishing assets of Northern & Shell, which also owns celebrity magazine OK!. Along with the well-known Mirror titles, Trinity Mirror publishes the Daily Record, the Sunday People and more than two hundred regional newspapers. Our former CCO speaker, Amol Rajan, BBC's Media Editor, noted on BBC News that this purchase is more likely than not to take place.
Earlier this week, Bell Pottinger's Asian unit announced it will separate from its British parent, amid reports the public relations firm is nearing collapse. Bell Pottinger's UK business is expected to go into administration as early as next week, the firm said. The Asian business will begin trading under a new name "in the coming days." The PR firm was expelled from the industry trade body after being accused of stirring up racial hatred in South Africa. It’s not every day you see PR across headlines of financial publications - very interesting times for the industry!
British Airways has announced proposals to close its main defined-benefit pension scheme in an effort to tackle what it says is a "significant and growing funding deficit." BA said that if the plans went ahead, employees would no longer be able to make further payments into its New Airways Pension Scheme (NAPS). The unions Unite and GMB have expressed "dismay and bitter disappointment". BA said the proposals were part of a consultation that would be getting under way "in the coming weeks".
On a bubblier note, English wine-making has taken off over the last decade, with industry sales hitting a record £130m. Official statistics show, that English sparkling wines were shipped to 27 markets last year compared with 19 in 2015. Could the English nectar truly threaten the dominance of French, Italian and Spanish wines?