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The publisher for the Mirror and Express newspapers has seen the value of its regional titles plummet These are grappling with a slowdown in local advertising. The company warned there is now “greater uncertainty” for its 100-plus regional titles — which include the Liverpool Echo, the Derby Telegraph and the Manchester Evening News — over the medium term. The £150million bill means Reach plunged into a £113.5million pre-tax loss in the six months to July. This compares with profits of £38.2million a year before. Reach confirmed it has made £7.5million in extra provisions for legal bills relating to a phone hacking scandal, taking the total tab for settlements to £70.5million. Lidl launches new range of posh cured meats – and prices start from £2 Savvy shopper saves £15k and buys HOUSE after collecting thousands of coupons Russ Mould, investment director at AJ BELL, commented: “Uncomfortable as the group’s ongoing legal woes may be, the real issue is a lack of growth. “Merging businesses and stripping out costs can only go so far, especially if the quality of the underlying product is to be maintained. “And Reach’s lack of sales or profit progress over the last decade, despite three big acquisitions and multiple rounds of cost-cutting, shows just how hard it is for publishers to monetise digital audiences and support readers who still prefer print.” Revenues were 10.6 https://dontretailor1994.wordpress.com per cent higher overall at £354million, boosted by the acquisition of the Express and Star titles from Richard Desmond in February. Reach chief executive Simon Fox said: “We have delivered a positive financial performance in what remains a difficult trading environment for the industry, in particular the regional businesses.” GOT a story?
For the original version including any supplementary images or video, visit https://www.thesun.co.uk/money/6901954/mirror-express-newspaper-plummet/
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South Africa farm SEIZURE: Land reform plans SCRAPPED – but NEW bill is on way INSTEAD South Africa farm SEIZURE: Land reform plans SCRAPPED – but NEW bill is on way INSTEAD SOUTH Africa has withdrawn a farm expropriation bill just days after President Donald Trump tweeted he was closely watching the situation – but the bill is set to be replaced by a new act given the government more powers. The African National Congress (ANC) said that the bill which would have the power to take land away from white farmers to rebalance racial disparities needed to have further consideration. The bill has been going through parliament for the last two years. Nonceba Mhlauli, a spokeswoman for the ANC’s chief whip, said: “The bill in its current form would need to be re-considered in light of the process of reviewing Section 25 of the constitution for the expropriation of land without compensation. “Were the bill to be re-introduced, it would contain a clause or clauses reflecting expropriation of land without compensation if that is the way that South Africans have chosen to go.” The government is trying to change the status quo where the white community who only make up eight percent of the populations own 72 percent of the farms. A full break-down of the implications of this bill withdrawal can be found here . Many fear the change with do nothing to change concerns from white farmers. Humphrey Mmemezi, committee chairperson of the Portfolio Committee on Public Works who resolved to withdraw the bill, said: “The committee has observed that the work of the Joint Constitutional Review Committee is now approaching a conclusion and the recommendations are soon to be made available. “Once concluded, before the end of September, [this] will lead to new parliamentary processes, including legislative processes, and new directions should become clearer before the end of 2018. “The committee is aware that this process will lead to the minister of public works reintroducing a revised Expropriation Bill that will possibly include clauses that deal with expropriation of land without compensation.
For the original version including any supplementary images or video, visit https://www.express.co.uk/news/world/1009953/south-africa-farmers-donald-trump-theresa-may-cyril-ramaphosa-land-reforms