Weekly Wrap Up: Digital age and online news

Just as various global media outlets face challenges from the decline in print, the New York Times bucked the trend and reported good financial results for the financial year 2014. Operating profit increased more than two fold from $16.5 million to $38.1 million, despite a fall in revenue to $383 million.

The key to the financial success, is part owed to the publication’s usage of digital media and their reaching out to digital audiences. Just four years after it switched to its metered pay model, the publication has reached 1 million digital-only subscribers. Additionally, digital advertising grew by 14.2 per cent.

As traditional media giants such as the New York Times begin shifting their focus to the digital space, it is the time for communicators to really start thinking about how to change their content strategy accordingly, to navigate the evolving media landscape.

For the time being, traditional print outlets remain fundamental and extremely relevant to gaining public attention, as readers look for detailed opinion and investigative stories. However, as more people begin using the digital space as their primary platform for sourcing news and content, it is vital to ensure that companies create press material that is not only interesting but also digital friendly. In addition to creating detailed press materials for traditional outlets, it is important to also attend to the needs of the online journalists. Short, snappy, press releases with searchable titles help win these kind of journalists.

Companies also need to ensure that press materials are mobile friendly. Earlier this week, Ofcom reported that smartphones have now surpassed laptops to become the most popular way to browse the internet in the UK. In addition to written content, easily digestible videos are bound to win the attention of mobile audiences. For companies, that means it becomes vital to have spokespeople that ooze charm in front of the camera whilst re-iterating their key messages. News outlets such as the Financial Times and Wall Street Journal are increasing their use of video stories and this trend is likely to continue so whether you are a CEO of a FTSE 100 or an exciting start-up consider your digital presence more than ever!



This week, Abchaps hosted a market lunch, discussing the trends of the London IPO market. With guests attending from different walks of City life, various topics were raised including the future of AIM, current hot sectors and how London can continue to attract overseas companies to list in the UK.



Peel Hunt have appointed Paraag Amin as Technology Analyst in the Company’s Research Team. Investec Wealth & Investment have made four appointments to its research team. Dominic Barnes as a Fixed Income Portfolio Manager, Esther Gilbert as a Fixed Income Analyst and Marcus Blyth and Adrian Todd as Find Selection Specialists.



Content strategy- the practice of planning content creation, delivery, and the governance of useful, usable content.



If you are a fan of the Romans and their choice of entertainment, head down to The Guildhall Yard, London’s only Roman amphitheatre for the Gladiator Games. Brought to you by the Museum of London, it was here that gladiators fought 2,000 years ago, and in a somewhat less brutal re-enactment of those devastating battles, fighters will gather to prove their physical supremacy and secure their future.

The London Korean Festival is being held at Trafalgar Square this Sunday. The event will showcase the country’s creative talents, with entertainment on the day including a K-pop concert, culinary displays, creative workshops, screenings and more.

Join Dr Matthew Green on Saturday for a walking tour centred around South Bank for some education & exercise! Dr Green, a historian, broadcaster and author of London: A Travel Guide through Time, will lead a group of modern-day Londoners for a tour of Shakespearean London. Over the afternoon, the group will learn of the violence offered to audiences at the Globe and early use of special effects, visit a Southwark stew (the Clink prison) and learn about the unexpectedly rarefied world of London’s disappeared tobacco houses.

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Weekly Wrap Up: Minimise risk to your Corporate Reputation

The value of a good corporate reputation cannot be understated. It’s one of the main reasons businesses invest in communications and public relations. That’s why tracking media trends and watching for developments that signal risks, as well as opportunities, should be part of any corporate communications strategy.

This week there was a prime example of exactly why this matters so much. CEO of fashion retailer Next, Simon Wolfson, made headlines when he criticised an organisation dedicated to urging businesses to pay a so-called living wage. He claimed that £6.70 an hour is enough to live on for some people. Coming from a man titled Lord, worth an estimated £100 million and who took home a £4.6 million pay package last year, this out-of-touch comment would have been a PR disaster at the best of times. However, his outrageous remark came on the same day that Next posted bumper annual figures: pre-tax profit increased 12.5% to £794.8 million and the dividend rose by 16.3%. These results should, and probably would have, dominated media coverage of Next if not for Lord Wolfson’s poor judgement.

It would have helped if Lord Wolfson, or his communications advisors, had been paying attention to just how controversial living wage discussions have become. In the US, for example, Walmart and McDonald’s were among the major corporations that were villainised in the press due to their refusal to pay a living wage. Low paid employees at both companies even went on strike to demand a better wage.

Corporate missteps like this naturally generate plenty of bad publicity and are detrimental to an organisation. But arguably the worst part is that this damage could have easily been avoided by tracking recent media trends. If that had happened at Next, maybe they would have realised that someone who makes £4.6 million a year should refrain from providing “thought leadership” on the living wage debate.



This week Abchaps welcomed some of our UK IPREX partners to our offices, to discuss how our complementary services can further benefit our clients; joined Equity Development for an evening where they hosted three exciting and innovative company presentations within the media and technology sector for the City and PCIM community; and also attended Gorkana’s breakfast briefing, hosted by Director magazine. This newly relaunched title offers a direct line to C-Suite occupiers, and with its new look, Director does away with the usually drab vision of the board room.



Simon MacKinnon has been appointed Asia strategy adviser at the asset management firm Old Mutual Global Investors. Panmure Gordon has hired Patric Johnson as head of securities. He will also serve on Panmure’s Board.



“Living wage” - the amount an individual needs to earn to cover the basic costs of living. So maybe Lord Wolfson does know a thing or two about a living wage? His £4.6 million pay package should be just about enough to survive in London.



What says Hipster more than food served from a van? Get your kicks this weekend at Urban Food Fest, a revolving cast of food stalls and trucks serving a UN worth list of food cultures. All taking place in a Shoreditch car park, it could only be more zeitgeist if it came with a moustache.

Continuing the theme of facial hirsuteness, it is currently impossible to be more than six feet from a man with facial topiary. Love it or hate it, it has become part of our culture. So celebrate or castigate at Somerset House, whose exhibition Beard is open until Sunday.

Benedict Cumberbatch may have been taken off the market, but the Museum of London is still offering the opportunity to Sleep with Sherlock. Included in this all night event are a plethora of themed opportunities, ranging from a three course dinner, talks from detective specialists, right through to ghost stories told in the depths of the museum.

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Weekly Wrap Up: This will blow your mind

With a headline like that, how could you NOT read this blog post? After all, that’s the point of click bait, the internet phenomenon made popular by websites such as Upworthy and Buzzfeed. Click bait essentially exploits the curiosity gap by omitting a key piece of information to entice someone to click and/or keep reading.

The digital era has created a wealth of opportunity to reach a much wider audience. But there has also been a struggle to understand how, exactly, one should go about doing so. This is certainly true for the PR industry, but also for traditional news organizations and even businesses, and it makes the extraordinary success of the click bait strategy all the more enviable.

So it came as somewhat of a surprise this week when Business Insider reported that Upworthy's cofounder Peter Koechley apologized for the sensational headlines that made him rich – and his website famous - at the Guardian's Changing Media Summit in London this week. Going forward, he’s saying “good-bye to click bait”.

Upworthy successfully embraced the digital disruption – so why change strategy now?

The problem with Upworthy’s click bait headlines is that they tend to over promise and then under deliver. And eventually readers will catch on and stop falling for the same trick.

On the other hand, if your headline is incredibly boring it doesn’t matter if your content over delivers – no one will bother reading it. That’s exactly why click bait headlines shouldn’t be so easily dismissed. They do offer something. After all, they get people reading.

So here’s where your mind is blown: the solution is actually quite simple, and Koechley pointed to it at the Guardian event. He went on to say that Upworthy’s new approach would include sharing powerful stories “…that put you in someone else's shoes to help you see the world in other people's eyes."

The Upworthy example underscores that any piece of writing in the digital era – whether it’s a press release, news article or even blog post - needs to not only capture a reader’s attention but also deliver on content.

So go ahead and write an intriguing headline that sparks interest – just make sure your writing actually fills that curiosity gap.



This week Abchurch hosted two successful market lunches and had insightful discussions with City advisers on the sentiments of the IPO market and the potential effect the 2015 election will have. We also hosted the Allenby Capital team for an enjoyable evening, as well as travelling to Newcastle to celebrate Quantum Pharma’s successful floatation on AIM party.



Investec Investment Banking appointed Serge Rissi as a director of financial sponsor transaction group, whilst Sarah Owen-Jones joined Rathbone Brothers as chief risk officer from RBS. Meanwhile, Baker Tilly appointed Rowan Williams as head of its professional services group.



"Click bait" – exploiting the curiosity gap by omitting a key piece of information to entice someone to click and/or keep reading.



If you are a beer drinker, you can’t miss this weekend Over the Hop Festival at the White Horse in Parsons Green. There will be live music, an outdoor BBQ and Six Nations screenings on Saturday.

Fancy a bit of Asia this weekend? Silk Road travels to Marylebone for one long weekend. The seventh annual Asia House Fair will feature dozens of exhibitors that represent the best in arts, crafts, fashion and design from across the pan-Asia region.

Whether you are a rugby lover or hater, the Six Nations Championship concludes on Saturday with three teams (Ireland, Wales & England) in contention for first place. Italy play Wales first at 12.30, followed by Scotland versus Ireland at 14.30, with finally England playing France at 17:30. If you are a rugby hater, we would recommend avoiding the pubs at those times!

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Is PR ready for the digital revolution?

Humankind has benefitted immeasurably from change and progress, and there is perhaps no greater example than the industrial revolution. But there are always winners and losers when it comes to change and progress. And that is important to remember now that we are in the third industrial revolution – the digital one.

The challenges of the digital revolution are already evident: it has become a ‘disrupt or be disrupted’ world. And that is as true for the PR industry as any other.

But just as the digital revolution brings new challenges to the PR industry, it also brings new opportunities. And Abchurch recently participated in an event that did an excellent job of highlighting these opportunities.

Abchurch is a member of IPREX, a network of communication agencies with over 100 offices worldwide. Last week, members of many of these agencies gathered in London for the 2015 IPREX Global Leadership Conference. The theme of the Conference was Beyond Silos: Operating and managing in an integrated communication industry.

One of the major topics at the conference was the changing media landscape, which is of course a result of the digital revolution. The event kicked off with a very insightful presentation by Arun Sudhaman, editor-in-chief of the Holmes Report. He discussed the period of change the PR industry is currently undergoing and how agencies can capitalise on these new opportunities. Arun pointed out, quite rightly, that if PR agencies don’t ‘future proof’ themselves they will become irrelevant.

It was also incredibly helpful to see how IPREX partners from around the world are tackling the challenges that arise in the digital era. Based on what was presented at the conference, it’s safe to assume that many IPREX partners are already winners of the digital revolution. There were plenty of examples that demonstrated just how much innovation benefits the communications industry. Although traditional forms of print media and editorial coverage are becoming scarcer, social media creates new opportunities, whether delivering information, creating buzz by pre-empting traditional media coverage or even creating and publishing content for clients. These initiatives by our IPREX partners proved they won’t become the blackberries of the PR industry.

One of the key takeaways of the conference is that a digital silo isn’t enough – the PR industry has to fully embrace the digital revolution to stay relevant. Change can be scary, but here at Abchurch we are embracing the opportunities digital innovation is bringing to the PR industry.

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Weekly Wrap Up: Christmas has begun

Over the last week the UK has seen the official start to Christmas; John Lewis told us so.

John Lewis started this off in 2009, seeing Coca-Cola’s Santa and raising him, in no particular order, a penguin, some snowmen, and unlikely friendships between woodland creatures. Ever since, companies have rushed to get in on the act, pushing ever greater briefs, backed by ever larger budgets. All in the attempt to attract shoppers through their doors. But is this money well spent? Or have these adverts become so removed from what advertising traditionally stands for that they could potentially damage the high street they’re meant to save?

Simply put, the cost of these adverts is enough to make any company's CFO turn ashen faced. With a budget of £7 million, John Lewis tops the charts, and the sheer scale of Sainsbury’s WW1 extravaganza means it can’t be far behind. But one thing was conspicuously missing from both adverts, and that’s a product.

Whilst you may now be able to buy a Monty penguin for the sum of £95, and Sainsbury’s will sell you vintage chocolate for £1, neither make product a focal point during their two or three minutes of air time. Having been placed in the most expensive slots on British TV, the question has to be asked, ‘is this good advertising?’

On the surface, the answer surely is yes. In terms of outreach, these adverts achieve circulation that could never have been expected even a few years ago. In less than 24 hours, Sainsbury’s saw online viewing figures of nearly one million, whilst being shared on Facebook nearly 42,000 times. This pales into insignificance when compared to John Lewis, who in just a week garnered viewing figures of a scarcely believable 13.5 million, with Facebook shares of 154,000.

With not a single product advertised, the effect these adverts have on sales is incredible. John Lewis announced this week that its like for like sales for the first week of November were up 6%.  The retailer has a proud history of defying the credit crunch, posting positive festive figures every year since 2009.

Whilst these lavishly funded, sentimental adverts may be achievable for large companies with large budgets, smaller companies are having to get more creative. The irony of these messages is that whilst they may cost millions of pounds to produce, their greatest success comes from an (almost) completely free source, social media. Every retweet, share, view, comes at no cost to the retailer. Whilst their slots on television may cost the company, their online presence does not. Therefore, this is how smaller companies can succeed.

Ironically, while online shopping has for a long time been described as the end of the high street, online advertising may be what saves it. One of the greatest adverts to come out of last year’s Super Bowl was not the blockbuster Budweiser advert, but a tweet sent by Oreo. Quick thinking led to a simple quip being shared round the world over 20,000 times, garnered 525 million media impressions, even making Adweek’s top five ‘ads’ of the night. From this, the answer appears simple, use digital, save physical.



This week, Abchaps had a brilliant evening at the Nabarro London Wall launch. The evening kicked of with a fantastic cooking demonstration from Michelin Chef Michel Roux Jnr, along with magical entertainment.



Eversheds  appointed Cathryn Vanderspar, formally of Berwin Leighton Paisner, head of their London tax tea, whilst Mark Brown joined Westhouse Securities as executive chairman. Brown was previously chief executive of Collins Stewart Hawkpoint. Meanwhile, Pinsent Masons announced the appointment of Meriam Alrashid as an international arbitration partner in its global construction practice in London. A fluent Arabic speaker, she joins from Crowell & Moring. Finally, Walker Crips appointed Matt Ennion as Investment Director. He joins from Towry.



"Evangelism Marketing" - a form of word-of-mouth marketing (WOMM), in which companies established a loyal group of customers with strong belief in their products. These customers willingly and actively convince others to buy their products.



Enjoy some ice-skating in the beautiful splendour of Somerset House’s neoclassical courtyard. Then rest those sore legs (and bums) in the Skate Lounge for a well-deserved après-skate, where you can indulge in a cocktail, fondue or tasty treat (or all three)!

If you’re looking for something different, head along to the Hyper Japan Christmas Market at Olympia open this weekend only where you can immerse yourself in Japanese culture and find some interesting Christmas gifts for family and friends. Also at Olympia this weekend is the BBC Good Food Show which promises to be delicious!

The highly anticipated Regent Street Christmas lights switch-on will be taking place on Sunday. It's an evening of Christmas tunes, celebrity talent and fireworks. A London tradition since 1948, when the Regent Street Association first decorated the street with Christmas trees, the lacing of the street with lights marks the official countdown to Christmas day. The show will begin at 4pm with the switch on moment taking place at approximately 4.45pm.

And finally, for all those rugby enthusiasts, the Autumn Internationals continue on Saturday with the headline game, England vs South Africa kicking off at 2.30pm and Wales taking on Fiji at the same time. Scotland face the almighty New Zealand at 5.30pm and finally, Ireland play Georgia on Sunday at 2.30pm.

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Weekly Wrap Up: Boris Johnson - zip wire to Prime Minister?

This week Mayor of London Boris Johnson announced the explosive news that he will, “in all probability”, work towards becoming an MP at the next general election.

As with every statement that Boris puts out, the media coverage was both wide ranging and abundant. The Express was kind to the incumbent Mayor, quoting the Culture Secretary Sajid Javid “it’s fantastic news”, whilst The Guardian was more sceptical. It focused on how the announcement “drew accusations of hypocrisy” in regards to his previous statements that he would not hold two political offices at once.

Stepping past the issue as to whether or not he would make a good MP (again), the dramatic announcement through Bloomberg says more about his long-term political intentions than his short-term plans to become an MP. A Mayor of London running to be an MP is not a new thing. It is exactly what his predecessor Ken Livingstone did for a year, so the news should not have attracted as much attention as it did.

Some in the City have speculated that Boris will do anything for a headline, an idea that suggests this announcement was just another headline grabbing ploy ahead of a much bigger campaign. Few can forget the famous zip wire event of 2012 when he was famously left stuck and dangling and his name subsequently splashed across the media. Did the zip wire really stick by accident, or was it planned?

Fast forward two years... Does Boris truly plan on running for MP and then “sticking” with these two roles? Or is he simply building his reputation ahead of a bigger and more prime ministerial campaign?

Almost every piece published on the topic speculated that this move could simply be a small step for Boris ahead of challenging David Cameron for the role of Tory Party leader / Prime Minister. Cameron’s quote, interactively shared through social media, suggests that he was delighted with the news. He said that he has always wanted his “star players on the pitch”. Whilst this comment is clearly very supportive towards his old friend Boris, we must bear in mind the old adage: keep your friends close and your enemies closer.

If further building his reputation and positioning himself as a potential PM was Boris’s intention when announcing his MP-ship plans, he satisfied his objective.

Of the comments that resulted from the news, many contained expressions of delight at the idea of Boris becoming Prime Minister:

BBC: Corrigenda (6TH AUGUST 2014 - 16:10): Excellent news. This will liven up politics and will much increase interest and further eclipse Milliwatt-Balls.

nj (6TH AUGUST 2014 - 12:36) I would really love to see this MAN as our Prime Minister who speak TRUTH and stand by his words. Who walks with the current times.

Twitter fans also shared their views: Chris Beech ‏@chris1310beech (Aug 6): Yess Boris Johnson says he is going to run for priminister, come on Bojo!!!!

For now we have to wait and see what comes of both the 2015 election and the Uxbridge & South Ruislip seat. What we can do, however, is take stock of the media coverage that Boris achieved this week and keep an eye out for more headline grabbing moves on Boris’s political road to Westminster.



There was a flurry of activity in the Abchurch office this week with two particularly good Market Lunches taking place. Following the successful float of Savannah Petroleum last week, there was lots to talk about at the Natural Resources lunch. The take-home point from the Environmental lunch was that it is down to larger tech companies to bring environmental technologies to the forefront of consumers’ agendas and so solve the current energy crisis.



This week we congratulate Anne-Sophie Girault on her appointment as managing director of EMEA business development at RBC Global Asset Management, having moved from Aviva Investors. Meanwhile, RPC appointed David Gubbay, from Dechert, as a Partner in their corporate team, whilst Stephenson Harwood announced that Ben Stansfield will join as a real estate partner after having worked in the environment and planning group at Clifford Chance.



“Political stunt” - When a politician seeking to influence a politician or governmental policy takes an action they know will gain attention but is not likely to achieve its stated goal.


Prudential RideLondon FreeCycle will take place this Saturday. 10 miles of road in central London will be closed for the occasion, enabling cyclists to pass through the city safely without regular traffic. The route features Buckingham Palace, Tower of London, and many more sites along the way.

For fans of underground opera, Grimeborn Festival of New Opera will take place from 4 August to 7 September, featuring new composers, musicians, and artists. The festival is taking place at Arcola Theatre in Dalston Kingsland.

The 3 Crowns Wine Fair will take place near the Silicon Roundabout. Branded Portuguese, French, and Italian wine will be available at £5 per glass. There will be original folk music performance throughout the event.

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Weekly Wrap Up: Federer, Bouchard & Business

The past week has certainly been an eventful one for sports fans. Whilst football is still undeniably dominating the sports scene, many turned their attentions to the Wimbledon finals. This year’s Wimbledon men’s single final was certainly an exciting one for tennis lovers; 17 Grand Slam Champion Roger Federer was again competing in the finals against 27-year old Serbian player Novak Djokovic. The cheering at the venue clearly indicated that many more took side to support Federer. It was as if the crowds wished to see the legendary player winning one more Grand Slam title before his retirement, as opposed to the junior Djokovic with a long career ahead of him.

However, the women’s game was quite a different story, with 21-year old Eugenie Bouchard gaining much attention. The attention was hardly surprising as Bouchard possesses all the qualities to receive the likes of the media; she is exceptionally good looking and she entered the Wimbledon finals after having played in the Grand Slam major draws for just 14 months. The media has even been speculating about the birth of another Maria Sharapova, a woman who just ten years ago defeated Serena Williams at the age of seventeen, laying down her foundation of becoming one of the most discussed sports stars in history.



It is interesting to see how the media’s speculation about the world of technology very much resembles that of the world of sports. Leaders of the largest companies in history, including Facebook’s founder Mark Zuckerberg and the Google brothers Larry Page and Sergey Brin, are still some of the most celebrated personalities in media history. To a certain extent, the popularity of their brands is very often built upon the company and the individual's success, with many die-hard fans caring more about the success of the company in question than with the actual products being sold.

On the other hand, startups are increasingly dominating the media. The success stories of companies who have blossomed out of nowhere are nowadays just as likely, if not more, to receive media attention than the more established companies with steady incomes and long-term customers. In the UK, titles such as “Silicon Roundabout” and “Tech City” have become everyday words for the business press.

This week, for example, Google’s venture funding arm announced that it is setting up a $100m investment fund in London to invest in tech companies in Europe. Despite being incredibly high risk, venture funds have become increasingly active, and this announcement demonstrates the confidence that Google has in the startups of the world. Google was suitable rewarded for its startup focus; the media praise of Google’s risk-taking and “supporting the underdog” was bountiful.

Looking back at the examples of Federer and Bouchard, it is very clear that the press’s favour cannot be predicted or pigeon-holed. Whilst journalists are intrigued and keen to report on the entrepreneurs, innovators and startups of the new world, there is still a great appreciation for the more traditional beasts that time has proven are successful and worthy of praise.



Having made a series of appointments in recent months, Cantor Fitzgerald Europe further boosted its team with the appointment of Eric Bourguignon as Director of Consumer and Retail for its corporate finance division. Meanwhile, Neil Cullum, Head of Banking at the Accountancy and Investment management group at Smith & Williamson is due to retire at the end of this month. He will be replaced by Peter Mitchell, former Chief Executive Officer at CAF Bank. Walker Crips Investment and Wealth management Group also recruited two Barclays Wealth veterans in the form of Steven Moss and Mark Entwistle; both will be stockbrokers.



“A business beast” – A well-established and substantial corporation, possible a business that is steeped in history and tradition.



Missing the adrenaline rush of the annual school sports day’s ‘egg and spoon’ race? Not to fear. Head to Bedford Square for The Chap Olympiad where dapper attire is a must and you can take part in events such as breadbasket ball, passing the port, umbrella jousting, bakewell battles and that old favourite; The Tug Of Hair Competition.

If you are in need of some pre-game sustenance, then we suggest spending your Sunday lunch time at The Truscott Arms in Maida Vale. This Victorian pub not only does a mean Yorkshire Pudding, but they offer a whole Gluten Free roast!

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Weekly Wrap Up: The Uber Battle of Trafalgar

For a City famed for constantly being on the go, London was forcefully made to “go slow” this week as nearly 5,000 London cab drivers drew their vehicles to a halt in Trafalgar Square.

The protesters were speaking out against new smart phone app Uber, which allows Londoners to flag the nearest cab available using Geo-tagging, as well as estimate how much their fare will cost.

Whilst the former aspect of the app may be good for cabbies – the method reduces their dependency on commission charging taxi operators. The protesters were complaining that the fare estimation tool forces them to sell their services for less. Their basis for complaint was that, by law, fare calculating devices known as “taximeters” are only allowed to be calculated by black cabs, and that the Uber app could constitute a taximeter by pre-calculating a cab fare.

Unfortunately, the protest didn't have the desired effect of tarring the app’s reputation; Thursday’s papers were filled with stories of how the operators of Uber app had seen an 850% jump in registrations on the day of the protest due to the number of Londoners who discovered the app through the protest. Indeed one Tory minister, Matt Hancock, tweeted that he had never heard about the #Uber app, but that he thought it was “awesome”. The EU digital affairs commissioner Neelie Kros became the app’s champion by lauding the its innovation and the industry of disruptive technology.

This 850% spike was a rather predictable result. Within reason, all PR is good PR, and Uber simply couldn’t have paid for the paper (and even broadcast) space that the protest’s coverage gave them. One might even go so far as to suggest that this whole protest was orchestrated by Uber with the intention of raising their profile internationally and nationally.

Let us go one step further. Beyond the increase in registrations, what long-term impact could the cabbies’ strike have on the world of disruptive apps such as Uber?

Whilst the British population was busy marvelling at the effect of the protest and downloading the offending app, America (homeland of San Francisco based Uber) was allowing the spiders of cynicism to creep onto the internet waves. At 3pm on Thursday afternoon Ellen Huet of Forbes magazine reported that The California Public Utilities Commission has warned apps like Uber in a stern letter that they are no longer allowed to take riders to or from any Californian airport.

This story serves as a reminder that the eye of regulation is upon disruptive technologies such as these, and as such they could face barriers to their development in the future.

The protest may have been beneficial to Uber in the short-term, but the publicity that the protest achieved has now raised the question as to how far apps and disruptive technologies should be able to interfere with other services, and whether regulation should be stepping in to control this interference.

As we have seen from the markets in recent months, the growth of digital technologies such as Twitter and Uber is incredibly dependent on ever increasing user-ship; Twitter’s share price has been falling amid fears of slowing user growth. If regulation does prove to threaten the future take-up of apps such as Uber, it could be hugely damaging for the future reputation of these apps by “potentially thinning profits and making it hard for Uber to justify its valuation” (CBSnews.com).

This week’s protest raised an issue that went beyond the confines of London’s famous black cabs. Although this year’s 'Battle of Trafalgar' may have been won by the defender, in time it may prove to simply be the start of a greater war against technology.



Abchaps have been out and about on an international scale this week, attending the LSE Greater China Forum in Hong Kong, taking the opportunity to catch up with our clients and advisers who operate out there. Abchaps also caught up with London’s top advisers at the LSE Summer Adviser Drinks, wonderfully hosted across the road on Threadneedle Street. Ever with the media in mind, we got the low down from Richard Fletcher, Business Editor at The Times, at the CIPR lunch briefing this week too.

As always, two of the famous Abchurch Market Lunches saw an interesting array of guests sit down to discuss market trends and opportunities; thank you to our guests for your insightful contributions!



This week Michael Hafner has been appointed head of oil and gas, Europe, Middle East and Africa (EMEA) at UBS. He joins from Deutsche Bank. David Bettesworth, previously of Deloitte, was appointed head of insurance and investment management advisory at PwC in London. Also, Vicki Harris has joined Aldermore from Octopus Investments as group strategy and marketing director.



“Black PR” – The process of destroying the target’s reputation and / or corporate identity.



Make the most of the sun this weekend. The More London Free Festival is in its 12th year and intends to celebrate! There is a 4-day street party which will see 5 different cultures show us the best of their food and fun on the South Bank- give it a try!

If you are a footie fan then you can catch the games at most London pubs, but we’ve heard about a few hidden gems. If you are central, head to Anthologist and if you want to enjoy the sun whilst keeping up to date with the Brazilian antics, then head to The Round House near Charring Cross Tube. Come on England!

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Weekly Wrap Up: Man Utd, Moyes & Market Movements

What's the difference between the four pieces of news that the City’s advisers, investors and market makers awoke to during the course of this week?

1. “Glencore Xstrata PLC (GLEN) has signed an agreement for the sale of its entire interest in the Las Bambas copper mine”

2. “French Connection Group PLC (FCCN), in the 11 weeks to 12 April 2014, have seen UK/Europe LFL’s up 11%”

3. “AstraZeneca PLC (AZN) report that Profit Before Tax falls by 50% Q1 of 2014 to £380m”

4. “Manchester United Plc (MANU) sack Manager, Moyes, after just 10 months”

Answer:

Nothing.

Or at least that is the view taken by the regulators of our capital markets.

Whilst all four announcements were of interest to advisers and investors alike and significantly affected the share price of the publically listed companies they related to, only three were announced to the market before the media were approached.

Following the football club Manchester United Plc’s announcement that it was to part ways with Mr Moyes on Tuesday, their share price jumped 7%. As a result, the New York Stock Exchange was considering launching a formal investigation into the sacking of Moyes and the way that it was communicated to the market.

It has since been reported that no formal action will be taken by the NYSE, and the club firmly deny that they breached regulations in any way. But what lesson can be learnt here?

Rules dictate that regulators must be notified and the market informed of any major changes or news that could affect a company’s share price before the media is informed. Clearly, Manchester United Plc didn't do this. The rules have been set in place to ensure that all audiences and investors are treated fairly. No advantage should be given to the lucky few who pick up a particular newspaper or tweet over breakfast, enabling them to act upon the news earlier than those who, for example, prefer to listen to Chris Evans and his golden oldies on BBC Radio 2 in the morning.

Manchester United is, in most people’s eyes, a football club first and foremost (rather than simply an investment opportunity). Perhaps the decision of how to release the news about Mr Moyes reflects the tendency of companies to value their traditional audiences over their investor audiences.

As the number of consumer-facing companies coming to market continues to increase, careful attention will need to be paid as to how they communicate corporate news, especially if said news could affect the share price and the shareholders.

It is essential that CEOs and companies operating in public markets continue to seek the advice of those who have often made the tight and often tricky call about news releases before letting the cat slip out of the proverbial bag.



This week's Market Lunch discussed the recent flurry of Technology movements across the globe. Abchaps also learnt a great deal about the future of Energy Saving Companies at EcoConnect’s Green in the City Event, hosted by Squire Sanders. We also enjoyed a very cultural evening at EY's lecture series on Sikh Art with Jasleen Kandhari.



“RNS” – The London Stock Exchange’s Regulatory News Service: Any piece of Company news that could affect the share price (such as a Board Appointment or acquisition) should be released on this service before being released to the media.



Reminiscent for a time when British music was “swinging”? The Blitz Party, an event to celebrate the World War II-era hits of Glenn Miller and Dame Vera Lynne, is being held this Saturday evening down in Shoreditch. Head along to this event where ration-book menus, wartime films and uniform costumes will transport you back in time.

In a sophisticated celebration of St George’s day, on Sunday the Royal Albert Hall will be hosting an afternoon of classics performed by the Royal Choral Society and Royal Philharmonic Concert Orchestra. Head on down to this famous London landmark to enjoy patriotic music, readings and a selection of poems.

Weekly Wrap Up: Obamacare "hangs" with the Millenials

President Obama, in what some have considered his riskiest interview to date, appeared on Between Two Ferns; a spoof chatshow hosted by Zach Galifianakis, star of "The Hangover". The show was broadcast online by the comedy website Funny Or Die on Tuesday.

Some may deem this move to have been a risky one by the affable President, but it is arguable that where there is risk there is also gain when appearing on a show that draws in 30 million viewers. Obama has been trying to promote the Affordable Care Act known as Obamacare, and what better way to reach out to young and politically indifferent Generation Y who are more inclined to support it than through their favourite medium: social media?

Barack Obama signs the Patient Protection and Affordable Care Act at the White House - Pete Souza

With access to such a large and influential audience, appearing on the show for six minutes and gaining the opportunity to urge young people to sign up for health insurance at the website healthcare.gov was a remarkable success for Obama. Furthermore it generated significant social media attention as it went up online.

The message the business community can take from this week’s appearance is that too often business leaders are too reticent to engage with social media, deeming the risks too high. The opposite is true, and the more bold a company is and the more outspoken a Company’s CEO is, the more likely it is to make an impact and get its message heard.



On Thursday one Abchap was invited to have tea with the FT to talk about Abchaps’ favourite topic: video and multi-media! Abchurch was delighted to be invited to this round-table discussion to share our insights on how to make content more engaging and accessible. We can’t stress more about the effectiveness of using videos in communicating the true essence of a business to the wider audience.

Abchurch also never tires of hosting our well-received market lunches. On Tuesday, advisers from SP Angel, MXC Capital, WH Ireland, Fasken Martineau, Deloitte, Grant Thornton and Investec came and shared their insights on the current happenings in the increasingly heated market.

One of these lunches had a particular theme, with advisers from Liberum Capital, Pinsent Masons, CICC (UK), and Allenby Capital attending to discuss business in relation to China. The Abchaps enjoyed sharing their views on how the perception of Chinese companies continues to evolve among investors, in part thanks to improved communications!



This week, WH Ireland made a top-level appointment as Dan Cowland was appointed Finance Director and member of the Board. Dan joins WH Ireland from Shore Capital, having gained a wealth of experience at Macquarie Bank and Lehman Brothers in the past. Cantor Fitzgerald also gained two new advisers in the forms of Tobias Woerner and Howard Prince-Wright; they had previously held roles at Antenna Group and Saxobank (respectively).

Earlier in the week, Field Fisher Waterhouse announced that Philip Abbott has become a partner of the firm’s Finance division. Philip is a specialist in funds finance, real estate finance and restructurings sectors and has formerly worked for Simmons & Simmons.


"Millennials": Also known as Generation Y, Millenials are the demographic group following Generation X. Commentators use birth years ranging from the early 1980s to the early 2000s.



Whilst the ExCel Centre in Islington may be full of City speak during the week, at the weekend it becomes the site and haunt of London’s magical and mythical caricatures. Head up to the ExCel Centre this Saturday for the London Super Comic Convention, to include panel discussions, autograph session and publisher reviews.

This Sunday will be St Patrick’s Day; Abchurch forecasts showers of green and a rather jollier than usual vibe. Head on down to Piccadilly for the Parade and Festival, formed around the theme of “World of Dance”. Look forward to a headlining act by Riverdance and a performance from the cast of West End musical “The Commitments”.

If you would prefer to avoid the crowds of the City, why not head out to the Country with the Country To Country Festival. This two-day indoor festival brings the music of Nashville to Greenwich in London’s O2 arena with appearances from Zac Brown Band and Brad Paisley.

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Weekly Wrap Up: Linkedin & the Hungry Internet users of China

On Tuesday, Linkedin launched a simplified Chinese language version of its website and is in the process of getting a license to operate the Chinese language site. If successful, it will mean that Linkedin will be the only global social media website to have official permission to operate in China, whilst most social media sites have been blocked by the Chinese government.

But does this mean that Linkedin will have exclusive access to professional circles in China? This will hardly be the case. Strict censorship rules in the country have not ruled out internet users’ appetite for social networking sites. Instead, the people of China have created their own networks similar to their Western peers, but with more users. Linkedin will be facing strong local competition from similar networking sites such as Ruolin and Dajie. Similarly, the Chinese versions of Facebook and Twitter, Ren Ren and Weibo have had incredible success and have widely penetrated the internet market in the past few years. Internet users in China have become increasingly sophisticated. Like everywhere else in the world, social media is an important platform in forming public opinion in China. At the end of 2012, China had 564 million internet users, representing nearly 40% of the Chinese population.

Internet users in China use "wall-climbing"
software to climb over the Internet fire wall
Image Isawnyu

Despite the fact that popular international social media sites are officially banned by the PRC government, it would be naïve (and possibly even wrong?) to assume that Chinese internet users don't use with them. By spending ten minutes to download what Chinese called the “wall-climbing” software (i.e. climbing over the fire wall), internet users in China will be able to access Facebook as smoothly as their Western counterparts. Whilst Linkedin’s expansion into China may be viewed as a new portal for PR’s to promote in China, it should by no means be viewed as the only site to watch.




This week Abchaps attended some great events, including the CFA UK Research Challenge at Locke Lord’s offices. At this, the investment Olympics for young professionals, the future potential of the City really shone through. Ever keen to learn more about our counterparts in the media, we enjoyed drinks at Bloomberg’s offices and have taken their preferred methods of working on board!

In terms of hosting, the Abchurch fridge has never been so full of healthy food and bubbles. We welcomed a large team from Cenkos Securities, where we discussed not only the fast-growing space of Life Sciences but also the increasingly efficient space of Clean technology. As more and more Companies now seek good team “chemistry” from their advisers, it was a good chance for the teams to mix and swap ideas.

Abchaps also hosted two market lunches, including one with a social media themed and one with an impact investment focuse. It seems that impact investment is rapidly maturing, with investors able to reap more gains from their socially/environmentally responsible investment than ever before.

We also flew over to Boston to join the IPREX GLC conference for the weekend. As an active member of this global network, we look forward to hearing about how our global partners are fairing in what seems to be a much more positive economy.




Private equity firm NVM has recruited Karl Cockwill as a portfolio manager in its investment team. He joins from 3i, where he was a portfolio manager.

Steven Skinner has been appointed head of West End investment at BNP Paribas Real Estate. He joined its central London investment team in January from Savills.




"LION" - A LinkedIn Open Networker - A LinkedIn member with more than 500 connections. These members accept any offer, good or bad and weak or strong; some question the value of this LION status when considering the quality and the quantity of contacts.

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Weekly Wrap Up: Channel 4's media affair

This week, Channel 4 announced that it was ending its 5-year media affair with Youtube.

In a 2009 deal that saw all Channel 4 programmes (Skins, Peep Show etc) made freely available for on-demand viewing, both the broadcaster and broadcast sharer planned to benefit from a split of advertising revenues.

Now, however, the shiny-media-polish appears to have worn thin on this partnership; full length features and programmes have now been removed, though clips and trailers will still be shared. Broadcasters such as Channel 4 and BBC previously relied on platforms like Youtube for global distribution, but they have now developed their own on-demand technology to host their programmes.

The response from online trolls was predictably strong. In an age, and (in fact) a week (#Sainsburys), where media is becoming both increasingly difficult to source in hard copy and expected in freely, the news was met with acrimony.  In a Reddit post, given 467 up-votes, a complaint about having to stream Channel 4 through what the user described as a less than perfect website (in not so many words). This article incited 78 comments, most of which related anger at the media migration.

But is this announcement really a bad thing in the world of media and social media? Where does this leave Google-owned video-breathing beast of Youtube?

Youtube, the largest video sharing website and the second largest search engine,  was created to “share your videos with friends, family, and the world”. Whilst the quality of content varies, it's safe to say the vast majority is not of the polished Channel 4 product quality.  Now that full-feature and professionally made programmes have been stripped, will the platform return to its old roots of sharing social rather than professional content?

Youtube is an invaluable tool for the public to share material, and for businesses to portray engaging messages. It's arguably a far more important tool for these groups than for corporate broadcasters who now have their own means of digital distribution.

This purification of Youtube may take Youtube back to its core, improving its value as a social media sharing site. Without the distraction of the glossy programmes and feature films, those high quality videos shared by the public/ businesses will have more of a chance to make an impact. Citizen journalism will reach more eyes, and SME messages in corporate videos may be heard by more ears.



Abchaps have been getting back into their stride this week, enjoying the distinct buzz of anticipation around the City! A particular highlight was the Tech Start Up themed Market Lunch that Abchurch co-hosted with Alistair Crane, Executive Vice President of Monitise Create and original Founder of Grapple Mobile. Whilst Abchaps won't give too much away, it was undoubtedly a fabulous way to kick off 2014. We were fortunate enough to sit down with 10 of the City's most influential tech advisers, as well as the CEOs of start-ups that can only be described as "ones to watch" for 2014!



Cancacord Genuity strengthens its research team with three new appointments. Making the jump across from Oriel Securities is Charlotte Keyworth and Harry Philips who join the aerospace and defence desk and capital goods desk respectively. Arun George, previously of Edison Investment Research, also joins the technology team.

Our friends at Stephenson Harwood made a new partner appointment with the hiring of Suzanne Tarplee who joins the rail team. And Zeus Capital bolsters its healthcare team with a new analyst: Gary Waanders. Gary joins from Nomura and brings his wealth of expertise to the team; particularly in biotech and pharma.



"Vlog" - A video blog, or blog that contains video entries



Still suffering the financial effects of Christmas? Here are a couple of the best free events hitting London this weekend:

The London Ice Sculpting Festival takes over this weekend, so head East to Canary Wharf to witness the world’s leading ice sculpting teams chisel big boring blocks into spectacular creations as they carve everything from fashion pieces to miniature cities!

With the opening ceremony tonight, the annual London Short Film Festival takes over the City’s best indy cinemas and venues to showcase over 300 short films and documentaries. The LSFF will throw in the excellent added extras of live music gigs and parties too. With such an extensive series and tickets ranging from free to £10, check out the site to see what tickles your tastebuds.

Finally, for those not feeling the squeeze, soak up contemporary, cutting-edge and thought-provoking artistic culture and attend one of the mesmerising productions being performed at the London International Mime Festival.

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Weekly Wrap Up: SMinterviews

Twitter Q&A sessions… An ingenious tactic used by PRs to make clients appear as open and as forward thinking as possible? Or a potentially hazardous exercise? The answer unsurprisingly is... both.

Queens Park Rangers Football Club yesterday had to abandon an #AskHarry Q&A on Twitter owing to immense trolling and humorous insults. Labelled a PR disaster by the media, one has to ask what ever entered the minds of QPR’s PR team, firstly when you consider manager, Harry Redknapp’s rather colourful career, and the recent British Gas Q&A disaster. These forums have to be taken with trepidation and planning.

When conducting a Twitter Q&A or a Twinterview, it is the responsibility of the PR to carefully consider all eventualities. Think in the long term, not the immediate term. Anticipate potentially tough questions, so responses can be planned and given out immediately, as it is certainly not as easy as one thinks to put everything down in 140 characters. In QPR and Harry Redknapp’s case, it would have been advisable to have anticipated tricky questions and had humorous or even honest answers to them:

 

The preparation and briefing is as important as the interview. The PR department at QPR were pretty naive for not considering the myriad of potential troll like questions directed at the former Spurs boss. The CEO of a large corporate PLC would never jump onto a BBC screen without having been thoroughly briefed on potential “danger topics” prior to the interview, so neither should Harry Redknapp have been allowed to hop into the Twitter-sphere so unprotected.

Another example of extremely poor planning was, the loathsome CEO of Ryan Air, Michael O’Leary’s Twinterview. He reportedly received no preparation or briefing from his PR team, and subsequently went on to make an early and rather sexist comment in response to a girl’s picture on Twitter. Did O’Leary’s PR team not create a social media policy for the Company, and fling it in Michael’s face, make him read it and learn it in advance of this PR nightmare?

Not all Q&As on Twitter are a disaster, and celebrities such as Jay Z have utilised the idea very well; but then Jay Z is going to have far less trollers and more fans than the CEO of one of the "world’s worst airlines", an increasingly expensive British Gas, and a football manager who has left virtually every football club he’s ever managed in ruins.

Considering the differing receptions that #AskHarry and Jay Z received through their respective SMinterviews, perhaps it is fair to suggest that they should have been broadcast through different platforms. Whilst the flow of adoration stemming from Jay Z’s fans could be contained in responses of 120 characters, #AskHarry would have benefited from the extra space and characters that a tool such as Reddit’s AMA (Ask Me Anything) allows… Again, a consideration of the relevance and appropriateness of social media platforms should have been done in preparation to Harry Redknapp’s Twinterview. What is encouraging to see is companies within financial services starting to use social media to create discussion and engagement and can be demonstrated by peer-to-peer lender Zopa’s participation on Reddit.

The Bank of England put chief economist Spencer Dale in the firing line only a day after #BritishGasGate and he fared far better. A great result for financial services which has to do more to appear open and trustworthy, and if done correctly Twitter Q&As might be the way forward to ensure this. The onus will be on PRs to prepare clients and anticipate the tricky questions which could easily get fired at a company or organisation with financial services.



Breakfast time for  Abchaps certainly provided more than just the usual coffee and toast this week! We attended The Royal Society of Chemistry to hear insights from The Royal Scientist magazine experts and a breakfast briefing hosted by AIM where Meryam Omi of L&G Investment gave a particularly strong argument as to why NEDs should be responsible for ensuring business sustainability.

We were also invited to the Jumeirah Carlton Tower by the Arab Bankers Association where a whole host of Arabic financial professionals from all over the world came together to build relationships and share ideas. Mid-week, Smith and Williamson hosted a fantastic evening of Tries, Tikka and Talk with Will Greenwood sharing some amusing tales from his Lions and England days and we welcomed our own guests into the office for two Market Lunches to discuss the latest developments in the worlds of digital technology and the Oil and Gas industry.



Dorsey and Whitney LLP has moved its entire team of staff to its swanky new office building in Broadgate. The law firm has set up camp in the Grade A office building, 199 Bishhopsgate and will now share lifts with employees from the likes of Stephenson Harwood, Pinsent Masons and Reed Smith – keep it friendly chaps!

Another law firm adding talent is Eversheds – recruiting a new partner, Andrew Herring from Greenberg Traurig Maher, to its international transport team.

Smith Square Partners also adds strength through hiring Paul Baines. Baines' previous roles includeCharterhouse Bank and Hawkpoint Parnters.



"SMinterview" - To arrange or conduct an interview, the exchange of questions and answers, via a social media platform



It’s the weekend of creepy goings-on, zombies in the night and spooky encounters as Halloween celebrations hit full steam. So, if you can tear yourself away from scrounging sweet treats and playing tricks, London is hosting a number of spectacular events.

Head over to Portobello Pop-Up for Tee’s and Cee’s ‘Halloween Movie Mash-Up Weekend’. From Friday to Sunday, it will host a horror themed cinematic experience of cult classics: Halloween, A Nightmare on Elm street and The Rocky Horror Picture Show. Guests will also be treated to Halloween themed food, drink, games and activities. And don’t forget the fancy dress!

The London Dungeon’s is opening its doors to its first ‘Late’ for a special Freight Night ’Dungeon after Dark’. In addition to the attendance by Guy Fawkes and Sweeney Todd, there will be appearances (or not!) by a number of ‘virtual’ guests such as Henry VIII and Jack the Ripper as well as the typical over-18 shows and ‘surprises’!

Finally, keep the kids entertained this weekend and get them involved in the Halloween celebrations at London Zoo’s ‘Boo at the Zoo’ event and see what creepy creatures are lurking in the shadows!

Alternatively, see what spooky going’s on are occurring at the the school of Witchcraft and Wizardry in a special Harry Potter ‘Ghostly Goings-on’ tour at Warner Bros Studio.

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