Sliding: U.S. advertising spending is expected to plunge by 13% this year, the world’s largest ad buyer says, the latest sign of the toll the coronavirus pandemic is taking on businesses and economic activity, The Wall Street Journal reports. GroupM, a unit of WPP PLC, expects ad spending in the U.S. to drop to $207.9 billion this year from $238.8 billion in 2019, excluding political ad outlays. As recently as December, the company was forecasting U.S. ad spending would rise by 4% in 2020. Read the full story.
Called off: Officials with Bayer Crop Science, the division that acquired Monsanto Co., confirmed this morning that a nearly $1 billion expansion at its Luling chemical plant has been canceled, the St. Charles Herald Guide reports. Set to open in 2021, the expansion was tied to production of dicamba, an herbicide used as part of Roundup Ready Xtend Crop System products. Through a statement released today, the company says the decision will not affect current operations at the site. Read the full story.
Outage: The head of the Federal Communications Commission says T-Mobile’s nationwide, hours-long outage Monday was “unacceptable” and that the FCC will investigate the company. T-Mobile, one of the country’s three largest cellphone service providers, says it had a “voice and text wireless issue” that began around 11 a.m. Central time Monday. Read the full story.