The month of May has got off to a tricky start for marketing agency Dare as two of their major clients Sainsbury's and Tetley have called for an advertising review - with Dare declining to pitch the latter.

As the Huffington Post alluded to yesterday, British retailer Marks and Spencer has announced a fall in profits, the first of its kind for three years. This annual loss bucks the trend of what was Britain's most profitable retailer, when it was the first to make £1bn in a year.