Dru prepares advertising switch
Jean-Marie Dru, president and chief executive of TBWA Worldwide, the advertising group, is said to be on the verge of agreeing a deal to take charge at Havas, the French advertising group. It is understood that M Dru is in the final stages of negotiations over a deal to leave TBWA, which is owned by Omnicom Group, to take the chief executive’s role at Havas.
EU takes Portugal to task over deficit
The European Commission launched disciplinary measures against Portugal for breaching limits on its budget deficit and debt set by the Stability and Growth Pact. The Commission said that Portugal’s deficit was forecast to widen to 6.2 per cent this year from 2.9 per cent last year. The reprimand follows similar action against Italy and can theoretically lead to large fines.