Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
French ad holding company Publicis said Sunday it would pay about $4.4 billion for marketing services company Epsilon to give it a leg up in digital marketing and to help clients better personalize their advertising.
The deal with Alliance Data Systems Corporation will entail Publicis acquiring its Epsilon business for a net purchase price of $3.95 billion after a tax step-up, with a total cash consideration of $4.4 billion. Publicis will form a strategic partnership with Alliance Data's remaining business.
The deal comes as the advertising industry reckons with the huge growth of digital advertising and the emergence of players like Facebook and Google. Digital ad spending was expected to surpass traditional ad spending in the U.S. for the first time this year, according to eMarketer, which also expects digital to account for more than two-thirds of all media spending by 2023.
The acquisition gives Publicis access to Epsilon's data capabilities. The company says, for example, it has more than 250 million unique consumers identified in the U.S. The company says it can build on top of a client's first-party data with its own assets, like behavioral and transactional data.
Major ad holding companies have grappled with whether to own data or to insource the data from providers. Last summer, Interpublic Group of Cos. agreed to acquire Acxiom's Marketing Solutions for $2.3 billion. Dentsu Aegis Network in 2016 bought a majority stake in data marketing company Merkle.
Companies like Epsilon or Acxiom would likely argue in an environment where privacy is increasingly important, their ability to ethically source and scrub data is valuable and important to marketers, said Forrester analyst Jay Pattisall after Publicis said last week it was in talks to buy Epsilon.
"As privacy becomes more and more of a concern for marketers and their customers, that capacity to balance precision marketing with customer and consumer privacy is a really important issue," he said.
Publicis also hopes the acquisition will also help it further personalize its connections with consumers.
"Our clients are facing increasing pressure from the rise in consumer expectations, the mainstreaming of direct-to-consumer brands and new data regulations," Publicis Groupe CEO Arthur Sadoun said in a statement. "The only response is to deliver personalized experiences at scale. They have to transform to meet this new market imperative."