WPP Advertising Agency Names Mark Read as Chief Executive

The global marketing colossus WPP named Mark Read, a longtime company executive, as its new leader Monday as the advertising agency tries to rebound from the departure of its founder in April amid a personal misconduct investigation. WPP, the world’s largest advertising group, said Read, who had recently served as chief operating officer, would become the company’s chief executive, effective immediately. Read, 51, replaces Martin Sorrell, the influential advertising executive who founded WPP in the 1980s and molded it in his image, but who quit this year while under investigation. Read is seen within the company as soft-spoken and collaborative.

Argentina Takes Emergency Steps to Shore Up Peso

Argentina’s president announced emergency measures Monday to stem concerns from investors about the country’s solvency as it seeks to tap an international credit line. It was the latest move to ease a growing crisis over a plunging currency, days after the central bank intervened with a drastic increase in interest rates. President Mauricio Macri said he would seek to reduce the government’s budget deficit by imposing a new tax on exports. He also said he would reorganize his Cabinet, eliminating around half of the ministries. Despite the announcement, the Argentine peso continued its fall, losing 3 percent against the dollar.

Amazon Sets Its Sights on the $88 Billion Online Ad Market

Amazon, which has already reshaped and dominated the online retail landscape, is quickly gathering momentum in a new, highly profitable arena: online advertising, where it is rapidly emerging as a major competitor to Google and Facebook. The push by the giant online retailer means consumers are likely to be confronted by ads in places where they did not exist before. Amazon has a big advantage over its competitors. Thanks to its wealth of data and analytics on consumer shopping habits, it can put ads in front of people when they are more likely to be hunting for specific products.