Seven things for PR pros to know Monday morning

Wall Street blue chips to buy stake in messaging service; US takes sharper tone on Israeli operations in Gaza; Publicis takes stake in Asian digital shop; Wall Street Journal looks into auto recalls; Tribune Media to begin trading this week.

Seven things for PR pros to know Monday morning

A group of financial institutions led by Goldman Sachs is planning to buy a stake in messaging and chat service Perzo. The deal would cut into the dominance of Bloomberg terminals in Wall Street institutions, as financial firms look to trim costs. A yearly subscription to Bloomberg’s data service can run $20,000 or more.

Publicis Groupe bought a stake in Asian digital marketing agency Arcade, the French holding company said Monday morning. The firm, which has more than 100 staffers, is headquartered in Singapore with footprints in Shanghai, Jakarta, and Tokyo.

The US took its sharpest tone yet on Israel’s military operations in Gaza on Sunday, when the State Department said it was "appalled" by shelling of a UN school that was sheltering civilians. Ten people were reportedly killed in the attack.

Higher valuations have pushed the New York Stock Exchange past its rival in Hong Kong in terms of cross-border initial public offerings for the first time in five years. Alibaba, expected to surpass Facebook as the largest tech IPO in history, is set to begin trading on the New York Stock Exchange next month.

It often takes more than one year to investigate, recall, and fix cars and trucks with serious safety issues, according to an investigation of recalls by The Wall Street Journal. It also found that both government regulators and automakers contribute to the long process.

Tribune Co. will officially spin off its newspaper business into a separate company on Tuesday, when Tribune Publishing begins trading on the New York Stock Exchange under the symbol TPUB. The group includes media outlets such as the Chicago Tribune and the Los Angeles Times.

Corporations are urging Congress through industry groups such as the Chamber of Commerce to rein in the False Claims Act, a decades-old law that allows individuals to sue companies that do business with the federal government to stop fraud. 

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