Published On: Fri, Aug 28th, 2020

FTSE 100 LIVE: TV channel faces brutal cull from FTSE after advertising collapse | City & Business | Finance

ITV’s value has dropped by more than half this year to £2.5 billion, according to the Times. Its revenue has dropped by 42 per cent in the second quarter. The coronavirus pandemic has caused the economy to fall, taking marketing spending with it. 

Russ Mould, investment director at AJ Bell, the broker, said: “The longer-term trend of competition from streaming services and rival broadcast technologies is a huge factor as well.” 

Due to lockdown over the coronavirus pandemic, many popular shows such as Love Island and Coronation Street, were forced to delay filming.

But this meant they lost crucial advertisers. 

The reshuffle will be based on the closing values of companies on September 1.


6.44am update: Trump promises tariffs on companies that leave US to create jobs overseas

Mr Trump said on Thursday that if he was re-elected, his administration would impose tariffs on any company that leaves the United States to create jobs elsewhere.

“We will impose tariffs on any company that leaves America to produce jobs overseas,” Trump said in his acceptance speech at the Republican National Convention.

“We’ll make sure our companies and jobs stay in our country, as I’ve already been doing.

“Joe Biden’s agenda is Made in China. My agenda is Made in the USA.”

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