Scott Knox, the managing director of the Marketing Agencies Association (MAA) is voicing his concern in Campaign today that the government's plans on payment terms will not go far enough. He says: "Vince Cable has stated publicly that too many large companies have been getting away with not paying their suppliers on time to maximise their profits. However, BIS has indicated that a statutory maximum of 60 days has been ruled out. So what's the point of this part of the bill?"

Barclays is moving into wearables via an experimental contactless payment wristband. The bPay bands will allow users to make payments at 300,000 terminals in the UK and enter events, and will be rolled out for the British Summer Time music festival this year before a more public launch in 2015. The bands will use the same technology present in existing credit and debit cards and will be free to users, although merchants are expected to pay a small fee.

Commuters at Waterloo station will be invited to don an Oculus Rift headset to take to the zip wire and the high ropes course at Center Parcs' new village at Woburn Forest in Bedfordshire. The campaign will be running throughout this week and will also include an opportunity to try out archery on real bows that fire virtual arrows. The holiday brand will be displaying consumer-generated tweets and photos from the takeover campaign.

Facebook has admitted that diminishing organic reach "has been a pain point" for many businesses as it goes on the record to explain the changes. Brian Boland, head of Facebook's ads product marketing team, countered that the upside is a more engaging news feed. He added that organic reach has fallen because there is now so much competition to get into news feeds. Ogilvy recently reported organic reach has fallen as low as 2% in some cases.

While television and radio will get their usual World Cup bounce, the real winner -- in terms of marketing resource rather than overall spend -- is set to be social media. Twitter is already revealing that more tweets have been sent about the upcoming competition than were sent throughout the entire tournament in 2010. Nielsen research shows that television and social media is an enticing combination, with an estimated 60% of fans tweeting while they watch a game.

U2 lead singer Bono will be presented with an inaugural Cannes LionHeart at this year's festival for his work co-founding the AIDS organisation, Red. The new award has been conceived to recognise a person or organisation that has used its brand power to make a positive difference. This year's awards have set a record for entry levels -- 37,427 entries have been submitted from 97 countries.

Only one newspaper managed to increase year-on-year sales in May. "The Sunday Times" rose by just 0.2 percent to reach 844,528. "The Guardian" and The "Times" were the best-performing dailies -- slipping 2.8 per cent and 0.6 percent, respectively. "The Independent" fared the worst, dropping 17 percent year-on-year. The "Evening Standard" also increased the circulation of its free London daily newspaper during May from 700,000 at the start of year to 897,000 in May.

Google is is going head to head against video exchanges such as BrightRoll, LiveRail and Specific Media's offering, with the launch of a premium video ad-buying platform, Google Partner Select. Brands will be able to place bids on pre-roll and mid-roll ads via real-time auctions with Google's algorithms matching advertisers' desired audiences with inventory. Demand-side platforms and agency programmatic trading desks will also be able to buy inventory through Partner Select.

Guardian editor Alan Rusbridger has criticised the News UK online model, describing paywalls as a "19th century business model". Speaking on BBC Radio 4 Today's programme, he could not say that The Guardian's free model was the most commercially successful approach, but did say it was "light years" ahead. "There is no question that the open model is not miles better, light years better. So the question is whether one works financially better than the other, and it's difficult to tell."

Social and digital agency Havas Work Club has launched a mobile division following its acquisition by Havas. The unit will offer marketing-led mobile services and will also move into the growing areas of home automation, health marketing and mobile payment systems. It will work in two distinct ways offering integrated campaigns through Havas Work Club or as a stand-alone development operation delivering on individual mobile briefs.