Global tech company Google has been named the world's most valuable brand in the latest Brand Finance Global 500 report, causing Apple to lose its place at the top spot for the first time in five years.

The Lego Group retained its status as the world's most powerful brand, helped by the anticipated impact of its latest film The Lego Batman Movie, released February 9. Brand Finance's CEO David Haigh commented 'A powerful brand can protect a company’s value during turbulent market conditions, create new market opportunities and increase profit margins. All companies should therefore not just know the value of their brands, but also understand what drives that value and how it can be harnessed to benefit the business as a whole'.