Latest news with #Monks
Yahoo
15 hours ago
- Business
- Yahoo
Rachel Reeves on course for £24bn tax raid, warns JP Morgan
Rachel Reeves is on course to raise taxes by £24bn this autumn as she launches a fresh raid on working people to fund higher welfare spending. JP Morgan said the Chancellor was quickly becoming boxed in by pledges from Sir Keir Starmer, including proposals to reverse cuts to winter fuel payments for pensioners as well as the suggestion that he will remove a cap on benefits for families with more than two children. The moves have widely been seen as a bid to ward off the threat from Nigel Farage's Reform UK, which made significant gains in the recent local elections. However, Allan Monks at JP Morgan said the strategy would force Ms Reeves to increase taxes again, just a year after her record £40bn raid. Sir Keir's pledge to look again at eligibility for winter fuel payments and the benefit cap could cost up to £5bn a year by the end of the decade, JP Morgan said. Mr Monks said the Ms Reeves was also under pressure as a result of Donald Trump's trade war, which has taken a toll on the economy. An expected £2.4bn boost to growth from trade deals with the EU, US and India will fail to offset a £7.3bn hit from higher tariffs. JP Morgan believes the US president will be able to keep his 'liberation day' tariffs in place, despite a US court ruling they were illegal. He was granted a legal stay by an appeals court on Thursday. The investment bank said: 'There is continued uncertainty about the tariff regime in light of this week's US court ruling, but for now we assume the universal 10pc baseline will stay.' Weaker growth is set to blow a further £9bn hole in the public finances, leaving Ms Reeves on course to have to raise taxes by a total of £24.5bn to restore a £9.9bn buffer she currently has to balance the books, Mr Monks economist predict that Ms Reeves would extend a freeze on income tax thresholds until the end of the decade in a move that could raise just shy of £10bn. Thresholds have already been frozen until 2028, a policy that will drag 4m people into paying higher rates of income tax between now and then. It means the number of workers paying tax on their incomes is on course to climb above 40m for the first time, with 9.2m paying the higher or top rate. Frozen thresholds are not likely to be sufficient and JP Morgan believes the Government may be forced to impose a gambling tax and a further squeeze on welfare to balance the books. Ms Reeves's options are limited by Labour's manifesto pledge not to raise taxes on working people, including income tax, National Insurance and VAT. However, the Government has already found loopholes in its pledge after raising National Insurance on employers by £25bn last October. Further pressure to spend more may yet build between now and the Budget. Ms Reeves is already facing a rebellion over £5bn of welfare cuts as she tries to stop the sickness and disability benefits bill from rising above £100bn by the end of the decade. Sanjay Raja at Deutsche Bank also warned that higher taxes in the autumn were now 'a near certainty'. He said Ms Reeves would face further pressure ahead of the spending review on June 11 where she will set out detailed plans for Whitehall expenditure over the next three years. 'Undeniably, the Spending Review will likely leave the Chancellor with a tricky autumn Budget to navigate,' said Mr Raja. 'Tax rises look a near certainty. And pressure to reform the Chancellor's [borrowing rules] will only increase from here on out.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
19 hours ago
- Business
- Yahoo
Rachel Reeves on course for £24bn tax raid, warns JP Morgan
Rachel Reeves is on course to raise taxes by £24bn this autumn as she launches a fresh raid on working people to fund higher welfare spending. JP Morgan said the Chancellor was quickly becoming boxed in by pledges from Sir Keir Starmer, including proposals to reverse cuts to winter fuel payments for pensioners as well as the suggestion that he will remove a cap on benefits for families with more than two children. The moves have widely been seen as a bid to ward off the threat from Nigel Farage's Reform UK, which made significant gains in the recent local elections. However, Allan Monks at JP Morgan said the strategy would force Ms Reeves to increase taxes again, just a year after her record £40bn raid. Sir Keir's pledge to look again at eligibility for winter fuel payments and the benefit cap could cost up to £5bn a year by the end of the decade, JP Morgan said. Mr Monks said the Ms Reeves was also under pressure as a result of Donald Trump's trade war, which has taken a toll on the economy. An expected £2.4bn boost to growth from trade deals with the EU, US and India will fail to offset a £7.3bn hit from higher tariffs. JP Morgan believes the US president will be able to keep his 'liberation day' tariffs in place, despite a US court ruling they were illegal. He was granted a legal stay by an appeals court on Thursday. The investment bank said: 'There is continued uncertainty about the tariff regime in light of this week's US court ruling, but for now we assume the universal 10pc baseline will stay.' Weaker growth is set to blow a further £9bn hole in the public finances, leaving Ms Reeves on course to have to raise taxes by a total of £24.5bn to restore a £9.9bn buffer she currently has to balance the books, Mr Monks economist predict that Ms Reeves would extend a freeze on income tax thresholds until the end of the decade in a move that could raise just shy of £10bn. Thresholds have already been frozen until 2028, a policy that will drag 4m people into paying higher rates of income tax between now and then. It means the number of workers paying tax on their incomes is on course to climb above 40m for the first time, with 9.2m paying the higher or top rate. Frozen thresholds are not likely to be sufficient and JP Morgan believes the Government may be forced to impose a gambling tax and a further squeeze on welfare to balance the books. Ms Reeves's options are limited by Labour's manifesto pledge not to raise taxes on working people, including income tax, National Insurance and VAT. However, the Government has already found loopholes in its pledge after raising National Insurance on employers by £25bn last October. Further pressure to spend more may yet build between now and the Budget. Ms Reeves is already facing a rebellion over £5bn of welfare cuts as she tries to stop the sickness and disability benefits bill from rising above £100bn by the end of the decade. Sanjay Raja at Deutsche Bank also warned that higher taxes in the autumn were now 'a near certainty'. He said Ms Reeves would face further pressure ahead of the spending review on June 11 where she will set out detailed plans for Whitehall expenditure over the next three years. 'Undeniably, the Spending Review will likely leave the Chancellor with a tricky autumn Budget to navigate,' said Mr Raja. 'Tax rises look a near certainty. And pressure to reform the Chancellor's [borrowing rules] will only increase from here on out.' Sign in to access your portfolio
AU Financial Review
3 days ago
- Business
- AU Financial Review
AI transforms customer journeys with personalised experiences
At the coalface of this evolution is Sundeep Parsa, vice president of Adobe Experience Cloud, who has been integrating AI into the firm's suite of marketing and creative applications. 'When we say orchestration, we mean intelligence with some autonomy,' Parsa says. This marks a shift from simple automation to more intelligent, adaptive interactions that enhance every stage of the customer journey. From automation to intelligent marketing AI-powered tools are enabling Australian businesses to significantly enhance customer engagement. Kenny Griffiths, managing director at digital marketing leader Monks APAC, says that AI's transformative power is already reshaping how marketing and creative teams operate. 'One of the big challenges is the fragmentation of tools and use cases,' Griffiths says. 'At Monks, we've now mapped out a full lifecycle of processes, from insights and strategy to creation, adaptation, delivery, and performance.' This approach helps businesses overcome challenges like data validation, compliance, and integrating AI across various touchpoints, areas where AI-powered tools are making a substantial impact. In Griffiths' experience, AI is enabling marketing teams to evolve beyond traditional advertising models. 'Marketing goes beyond just ad campaigns into pretty much anything that produces high-volume, quality data and involves decision-making that has been influenced, including ad spend and segmentation,' he says. 'The impact of AI tools has been incredibly disruptive to marketing departments.' This disruption is evident in the results. For example, Griffiths notes a significant case study where AI-driven content generation led to impressive results for a global fashion retailer: 'We have one public case study of an apparel company (Forever 21) - they recorded a 66 per cent increase in ROI and a 72 per cent uplift in CTR.' Griffiths also touches on the balance between AI and maintaining brand authenticity. 'Authenticity is key,' he says. 'We are still at a stage where all experiences need to be compliant with brand guidelines. Within AI, we can now add compliance checks throughout the production workflow.' Griffiths sees potential for even more transformative applications. 'The future of AI in customer experience is incredibly exciting. We're looking at real-time story generation. If this can be data-driven, there's a real opportunity for brands to create one-to-one conversations.' The evolution of AI-powered solutions has also led to changes in how businesses measure success. Griffiths highlights how AI tools have led to efficiency gains across the board. 'Once you have something in motion, we can scale it, but it takes weeks and months to get something to market,'' he says. 'By introducing a simple chat-style interface, we make it easy for anyone to ask questions. This is how we achieve disintermediation and greater agility.' On balancing automation with human oversight, Griffiths says: 'Ultimately, a human will be required to sign off campaigns, but catching and addressing issues early makes the overall process more efficient.' As AI tools continue to evolve, Griffiths emphasises the importance of understanding customer intent in real-time. 'If you combine conversation intent with behavioural intent, the unlock is massive for brands,' he says, illustrating the potential for brands to predict and meet customer needs before they even express them. Griffiths also notes that privacy and data security will continue to be major challenges for businesses leveraging AI. 'Respecting privacy, consumer privacy, has to be a top priority,' he says. 'With consumers becoming increasingly conscious of how their data is used, organisations must ensure they are transparent in their AI practices, fostering trust and confidence.' Griffiths acknowledges that while the AI revolution is underway, there are still hurdles to overcome. 'Change is hard, and I don't think anybody should say we figured it out,' he says. 'You're still doing the mundane tasks that can slow everything down, but AI will streamline that.' As AI continues to mature, businesses are discovering the power of generative AI to streamline content creation and automate repetitive tasks. 'Once you have something in motion, we can scale it, but it takes weeks and months to get something to market,' Parsa says. 'By introducing a simple chat-style interface, we make it easy for anyone to ask questions. This is how we achieve disintermediation and greater agility.' Anticipating customer needs in real time For organisations seeking to optimise customer journeys, the focus has shifted from simply providing personalised content to understanding and anticipating customer needs in real time. Personalisation has become a critical component of the customer journey, especially in industries like retail, banking, and hospitality. 'Everything needs to be plus hyper-personalised across multiple channels,' Parsa says. 'That's a skill problem in how you actually deliver and execute on the need for personalisation.' As AI tools continue to evolve, businesses are finding new ways to refine these personalised interactions, ensuring they meet individual customer needs more effectively. However, with these advancements come new challenges, particularly around privacy, data security, and ethical AI use. 'Respecting privacy, consumer privacy, has to be a top priority,' says Parsa. With consumers becoming increasingly conscious of how their data is used, organisations must ensure they are transparent in their AI practices, fostering trust and confidence in the technologies driving customer interactions. As AI allows businesses to gather and analyse vast amounts of data, brands are better positioned to anticipate customer preferences and provide more relevant recommendations. 'You know exactly which hotels I prefer. Just give me the answer,' Parsa says, illustrating the power of AI-driven personalisation. Customers expect relevant and timely interactions, and AI enables brands to meet those demands, offering customised solutions without overwhelming the customer with choices. This shift towards AI-powered customer engagement is not just about automating processes but also about enhancing creativity. With AI taking over repetitive tasks, human teams can focus on strategic, value-added activities. 'Most of the upfront planning is informed by all of the engagement data history that's locked up in our applications,' Parsa says. By using AI to analyse customer behaviour and preferences, businesses can gain real-time insights, allowing them to make faster decisions and improve the overall customer experience. As AI continues to mature, the potential for AI-driven personalisation to transform customer journeys is enormous. The ability to integrate AI into every touchpoint along the journey - from initial interaction to final conversion - will help businesses stay competitive and deliver greater value to customers. This transformation is already underway in Australia, with local businesses leading the charge in adopting AI to optimise their customer journeys. From automating content creation to predicting customer preferences, AI is allowing Australian companies to deliver more personalised, relevant experiences than ever before. The next step will be ensuring that these innovations are used responsibly, with a focus on transparency, privacy, and ethical AI practices. The future of AI in customer engagement is bright, and the potential for businesses to create truly seamless, personalised journeys is enormous. As Parsa says: 'If you combine that conversation intent with behavioural intent, the unlock is massive for brands.' AI is no longer just a tool for automation - it is a key driver of business growth, enabling companies to create customer experiences that are as intelligent as they are personalised.
Yahoo
16-05-2025
- Business
- Yahoo
S4 Capital's Monks Crowned The One Show's First-Ever AI Pioneer Organization
NEW YORK, May 16, 2025 /PRNewswire/ -- In an industry first, S4 Capital's operating brand Monks – the unitary, digital only, data-driven marketing and technology services company – has been named the AI Pioneer Organization by The One Show, which has been recognizing creative talent in advertising and design for over 50 years. This newly created category honors companies pushing boundaries and shaping the future of artificial intelligence. This distinguished achievement highlights Monks' innovative approach, leadership, and commitment to advancing AI-driven solutions across the industry. Kevin Swanepoel, CEO of The One Club for Creativity, shares the reasoning behind the accolade: "In a year defined by transformative creativity, Monks has not only embraced the future – they're building it. Winning the AI Pioneer award at The One Show cements their position at the forefront of intelligent storytelling, where human insight meets machine ingenuity. Monks aren't just using AI – they're redefining what's possible with it." Wesley ter Haar, Chief AI Officer of Monks, added: "Pioneer, we like the sound of that. It's honestly thrilling, and sometimes a little anxiety-inducing, to be at the front lines as a new version of our industry forms. New commercial models, new operating structures, new client expectations, new talent needs. It's full stack, end-to-end and high stakes. To have an organization like The One Show put a spotlight on those efforts means a lot." The One Show's decision to establish the AI Pioneer category reflects the growing importance of AI in creative and strategic domains. Monks has demonstrated exceptional leadership in this space, already having earned recognition like Adweek's first-ever AI Agency of the Year, Business Intelligence Group's 2025 Excellence in Artificial Intelligence Awards in both the Organizational and AI Product categories, runner-up for the 2024 Adobe Firefly Partner Award, and Workato's 2024 AI Visionary Customer Impact Award. These recognitions, in addition to other initiatives – such as WesleyBot, which overhauls the traditional job application process – underscore their commitment to transformative AI innovations. their AI-powered professional managed service, exemplifies how innovative technology can drive impactful results, enabling businesses to streamline operations, overcome creative and operational bottlenecks, and scale personalization. For Hatch, a wellness brand, facilitated the rapid development of niche consumer personas and personalized ads in just six weeks – half the typical time – resulting in a 80% higher click-through rate, a 46% increase in engagement, and a 31% lower CPA, all while reducing ad production costs. Additionally, utilizing for Headspace, the team generated 460 custom assets tailored to 20 use cases for a holiday campaign, which was recently shortlisted for "Best Use of AI" at The Drum Awards for Marketing Americas. The campaign achieved a 62% higher conversion rate, with 13% more signups and a 13% lower cost-per-signup – demonstrating how combining human creativity with AI-driven insights creates measurable impact at scale. Supporting these innovations, Monks places a strong emphasis on internal education and growth. Their "School of AI" program provides ongoing, tailored training to ensure every employee understands AI principles and can actively contribute to AI-driven strategies. Monks' weekly "15 Minutes of Now" sessions deliver brief, targeted learning on the latest AI tools and trends, encouraging experimentation and collaboration, with standout ideas recognized across teams. The company's expertise is further strengthened by their Agentic Advisory team that consults the Monks Foundry, a team of engineers fully dedicated to building and deploying custom generative AI models tailored to enterprise data and domain-specific knowledge. This focus on innovation and expertise enables Monks to deliver highly specialized solutions for their clients, reinforcing its position at the forefront of AI innovation. In addition to earning the title of AI Pioneer Organization, Monks has achieved numerous other awards at The One Show this year, including Silver and Bronze Pencils for AB InBev's Beer Retirement Account in the B2B and Good categories respectively, a Bronze Pencil in the Creative Use of Artificial Intelligence category, and eight Merit Awards for various campaigns. Notably, Monks' cultural experts at Cashmere earned Best of Discipline in the Brand-Side/In-House category, as well as Gold, Silver, and Bronze Pencils and four merits for the "Heinz Mustard x Mustard" campaign. Discover more about Monks' work in artificial intelligence at and follow along on LinkedIn and Instagram for more updates on the company's work. About MonksMonks is the global, purely digital, data-driven, unitary operating brand of S4 Capital plc. With a legacy of innovation and specialized expertise, Monks combines an extraordinary range of global Marketing and Technology Services to accelerate business growth and redefine how brands interact with the world. From crafting tailored, outcome-focused campaigns to modernizing critical infrastructure for the ever-evolving digital landscape, Monks delivers solutions that engage audiences in real time, drive cultural relevance and sustain long-term impact—a tripartite approach that establishes it as a trusted partner to the world's most innovative brands. Monks was named a Contender in The Forrester Wave™: Global Marketing Services, ranks among Cannes Lions' Top 10 Creative Companies (2022-24) and remains the only partner featured in AdExchanger's Programmatic Power Players list every year (2020-24). Named Adweek's first AI Agency of the Year (2023), Monks was also awarded Business Intelligence Group's 2025 Excellence in Artificial Intelligence Award in both the Organizational and AI Product categories. As a trusted partner to cutting-edge innovators in tech, Monks earned titles such as Optimizely Experimentation Partner of the Year (2024), runner-up for the Adobe Firefly Partner Award (2024), and Workato's AI Visionary Customer Impact Award (2024). Additionally, Monks was named Webby Production Company of the Year (2021-24) and achieved a record-breaking number of FWAs. About S4 CapitalOur strategy is to build a purely digital advertising and marketing services business for global, multinational, regional, and local clients, and millennial-driven influencer brands. This will be achieved by integrating leading businesses in two synchronised Practices: Marketing services and Technology services, along with an emphasis on 'faster, better, cheaper, more' execution in an always-on consumer-led environment, with a unitary structure. The Company now has approximately 7,000 people in 33 countries with approximately 80% of net revenue across the Americas, 15% across Europe, the Middle East and Africa and 5% across Asia-Pacific. The longer-term objective is a geographic split of 60%:20%:20%. Marketing Services accounted for approximately 90% of net revenue, and Technology Services 10%. The longer term objective is a practice split of 75%:25%. Sir Martin was CEO of WPP for 33 years, building it from a £1 million 'shell' company in 1985 into the world's largest advertising and marketing services company, with a market capitalisation of over £16 billion on the day he left. Prior to that Sir Martin was Group Financial Director of Saatchi & Saatchi Company Plc for nine years. Media Contact:Sarah View original content to download multimedia: SOURCE Monks Sign in to access your portfolio
West Australian
13-05-2025
- West Australian
Tour operator to share passion for Goldfields mining history on free ‘tag-along' adventure
A tour operator will share his wealth of knowledge on Goldfields mining history and culture during an upcoming 'tag-along' adventure. Wayne Monks spent decades working in the region's mining industry with Anaconda Australia and Western Mining Corporation. He now operates eco-tours in the Great Southern and Wheatbelt regions through Great Southern Outback Tours and Accommodation, and will host his first commemorative tour to the Goldfields this month. The nine-day adventure will begin at Broomehill Village on May 17 and travel along part of the historic Holland Track and John Holland Way before an overnight stop at Wave Rock near Hyden. The convoy will then travel north-east to experience the Goldfields' tourist attractions and unique landscapes, including Hannans North Tourist Mine, Warden Finnerty's Residence, Redhill Lookout, Cave Hill Nature Reserve, and pioneer cemeteries. The adventure will conclude in Norseman with a scenic drive along the Old Coach Road, visit to Norseman Historical Museum and Beacon Hill, and a farewell dinner at Norseman Hotel. The convoy will also visit Woodlands Cultural, Community and Visitor Centre, and local photographer Lyn Webb's gallery. Mr Monks said participants would uncover the region's gold and nickel mining history and unique geological landforms, and learn from local historical societies. He said he was passionate about sharing the region's history, with Goldfields family connections dating back to the late 19th century. 'I have a real strong connection in the sense of the geology and landscapes of the (Goldfields),' Mr Monks said. 'I worked for 11 years in Kambalda and almost nine years around Norseman, Coolgardie, Widgiemooltha and Yakabindie.' The tour is free of charge for participants who pay for their travel, accommodation and other associated expenses. Four-wheel drive vehicles are recommended but not essential. Mr Monks said those interested could join at any point along the tour, which runs from May 17 to 25. A sundowner will be at Kalgoorlie-Boulder's Tower Hotel on May 19 from 4.30pm. Five guest speakers will present, including the Eastern Goldfields Historical Society's Scott Wilson, Gwalia Museum's Wendy Carter, experienced geologist Jeff Gresham, Kim Epton and Mr Monks. Those interested should email Mr Monks at wmonks@ The tour forms part of the 2025 National Trust Australian Heritage Festival. A full itinerary is available on the National Trust website at
