Japanese advertising company Dentsu Inc. made friendly $A4,827 billion cash offer for global media company Aegis Group. The enlarged group will be No. 1 in Asia, No. 2 in Europe, and fastest growing in North America. Local arm of Aegis is Australia’s largest media buyer, handling over 20% of domestic advertising dollars. Regularory approval expected to take until October. Aegis operates in over 80 countries and generated £1.1 billion revenue in 2011 calendar year. Dentsu operates in 29 countries, generated £2.7 billion revenue FY2012. [CR: The types of deals that happen only a few times in a generation.]
Employment fell in June by the most in six months. Unemployment at 5.2%. Breakdown by state: NSW (5.1%), VIC (5.5%), QLD (5.3%), WA (3.5%), SA (6.4%), TAS (7.4%). Participation rate (measures working age population) dropped from 65.4% to 65.2%. [CR: Being in Queensland, makes me realise what a bubble we are in within our nation and globally.]
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