The Week: City news - IPG reports revenues drop

Interpublic Group has revealed that its second-quarter revenues fell by 14.5 per cent, due to the global downturn and a decline in spend from clients in the automotive sector.

IPG's second-quarter revenues were $1.47 billion, compared with $1.84 billion in the second quarter of 2008. Revenues for the first six months of the year were down by 10.5 per cent to $2.8 billion.