In brief: Probe into Co-op may take a year, Ad trade bullish on marketing budgets

Lord Myners’ report into how the Co-operative Group should be run in the wake of the near-collapse of its bank could take almost a year to complete.

The first phase focusing on the board will be published in April but the broader report on strengthening links with members, staff and customers will not appear until late this year. Myners is senior independent director at the Co-op.

Britain’s leading companies have increased their marketing budgets for the fifth consecutive quarter and are “loosening their purse strings”, according to the influential Bellwether Report of the Institute of Practitioners in Advertising.

The ad industry trade body said conditions were the best since 2008 and forecast “substantial” revenue growth until 2018.