Industry Under Pressure Gathers for Ad Week and a Deadline for Google
Here’s what to expect in the week ahead:
Advertisers, in throes of change, meet for week of talks.
Marketers and advertising types will gather this week in New York — mostly in the Times Square area — for the annual industry event known as Advertising Week. Panels and presentations like “Can Brands Actually Tell a Story in 6 Seconds?” and “Realizing The Full Potential of Audience Targeting” will aim to provide insights to an industry grappling with significant changes in technology, culture and consumer habits. Other hot topics of discussion: the recent criticism of the ad targeting practices of Google and Facebook, diversity within the advertising world and how well the industry knows Americans after a presidential election that caught most of its leaders by surprise. Sapna Maheshwari
Mario Draghi will discuss monetary policy.
Mario Draghi, the president of the European Central Bank, will provide an update on monetary policy during an appearance at the European Parliament in Brussels on Monday. But Mr. Draghi is unlikely to offer much new information on the question that is occupying financial markets: when the central bank will ease its stimulus to the eurozone economy. Mr. Draghi appears periodically before the Economic and Monetary Affairs Committee and answers questions from representatives, but usually does not use the venue to signal major policy changes. Jack Ewing
Janet Yellen to speak about inflation.
“Inflation, Uncertainty and Monetary Policy” is not just the title of a speech that Janet L. Yellen, the Fed’s chairwoman, will deliver in Cleveland on Tuesday. It is also a pretty good title for the dilemma that is confronting the Federal Reserve. The Fed has undershot its target of 2 percent annual inflation for the last five years, and is likely to do so again this year. In recent months, inflation has weakened further, and Fed officials don’t really understand why (Ms. Yellen described it as a “mystery” last week). At stake is whether the Fed should raise its benchmark interest rate in December, or wait for inflation to show signs of a rebound. After Ms. Yellen’s speech, she will visit a community college job training program and participate in a discussion with students. Ms. Yellen has previously visited job training programs in Chicago, Boston and Philadelphia, making the trip something of an annual tradition. Binyamin Appelbaum
A trade case could reshape the airplane industry.
The Department of Commerce is expected to issue an initial ruling Tuesday on imposing duties on the Canadian airplane maker Bombardier, after Boeing claimed that its Canadian rival had received government subsidies that allowed it to sell its products at unfairly low prices. Prime Minister Justin Trudeau of Canada and Prime Minister Theresa May of Britain, whose constituents help to manufacture the Bombardier jet, have urged President Trump to intervene to stop the case, but have so far been unsuccessful. If the United States rules in Boeing’s favor, it may impose duties making the Canadian aircraft substantially more expensive. Ana Swanson
Google faces deadline to comply with an antitrust order.
Google must be in compliance with an order from European Union regulators to modify its business practices by Thursday. The order was part of a decision in June by the European Commission that included a record fine of 2.4 billion euros ($2.7 billion). Google faced a 90-day deadline to respond to the regulator’s demands or face penalties of up to 5 percent of the average daily global revenue of Alphabet, its parent company. In recent weeks, Google submitted proposals to the commission aimed at ensuring that rival shopping services are treated the same way as its Google Shopping service, but the company has not publicly disclosed them. James Kanter
Bank of England marks two decades of independence.
The Bank of England will hold a conference on Thursday to mark 20 years since it was granted independence over monetary policy, giving the bank the ability to decide on interest rates without the government. The central bank’s powers have since expanded to include the regulation of financial firms. Speakers at the conference will discuss the application of central bank independence and whether the model works. Mervyn King, governor of the Bank of England for 10 years until 2013, has written that, “independence is not an answer to all problems.” Amie Tsang
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