Sports Direct owner comes out fighting July 11, 2008 Mike Ashley, the boisterous billionaire owner of Sports Direct, yesterday pledged to become a “good guy on corporate governance” as the retailer saw its full-year profits halve as consumers tightened their spending. The retailer’s lack of transparency in failing to provide like-for-like sales in its quarterly results has been heavily criticised by City analysts. But [...]
Auntie’s problems run deeper than executive bonuses July 11, 2008 The case of “trebles all round” for top BBC executives, after a year in which viewers were deceived and trust damaged, rightly dominated news about the Corporation’s annual report this week. But an eyebrow should be raised at the scale of the bonuses. The overall pay of director of vision Jana Bennett rose by 24 [...]
Herz backs GfKin fight against WPP July 11, 2008 German billionaire Guenter Herz is believed to be backing market researcher GfK in its bid for rival Taylor Nelson Sofres (TNS), which fought off a fourth approach from Sir Martin Sorrel’s advertising giant WPP earlier in the week. Herz, 68, is estimated to be worth $2.3bn (£1.15bn). He and his sister Daniela own Hamburg-based private [...]
Chelsea tell Lampard to forget Inter July 10, 2008 Chelsea last night risked deepening their differences with Frank Lampard by publicly telling the unsettled midfielder to forget about a summer transfer to Inter Milan. In an interview published on Chelsea’s official website, chief executive Peter Kenyon insisted long-serving Lampard would stay at the club next season even if he refused to sign a new [...]
West warns Iran over nuclear tests July 10, 2008 Iran test-fired nine missiles yesterday and warned America and Israel it was ready to retaliate for any attack over its disputed nuclear projects. Washington, which says Iran seeks atomic bombs, told Tehran to halt further tests. Iran says its nuclear programme is only for electricity. Iran’s missile tests rattled oil markets, helping crude prices to [...]
Fledgling Broad prepares for his toughest test yet July 10, 2008 Stuart Broad admits facing South Africa this summer will prove the toughest challenge of his fledgling Test career. The 22-year-old paceman will win his seventh Test cap at Lord’s this morning when the Springboks arrive for the first in a four-match series. After impressing in the one day set-up, Broad has now emerged as England’s [...]
Hleb poised to seal £14m Barca switch July 10, 2008 Arsenal midfielder Alexander Hleb is set to complete his long-awaited move to Barcelona, after the two clubs reportedly agreed a fee of £14.3m. Hleb, who has been linked with a move from the Emirates all summer, is poised to sign a four-year deal with Barcelona after rejecting the chance to join Bayern Munich. Arsenal have [...]
Credit crisis begins to take human toll July 10, 2008 It is not only bonuses that have come crashing down during the recent economic decline, but also the number of divorce papers hitting the doormat. Research commissioned for City law firm Mishcon de Reya revealed that while half the workers in the Square Mile had seen their bonuses cut by up to £40,000 this year, [...]
Upbeat 3i soothes investors’ nerves July 10, 2008 Publicly listed private equity company 3i yesterday soothed investors with an upbeat trading statement, reassuring them that it was still well placed for investment opportunities despite the credit crunch. Chief executive Philip Yea said the mid-market – 3i’s key market – had remained open over the first three months of the year, providing both investment [...]
Rose survives protest vote on double role July 10, 2008 Marks & Spencer boss Sir Stuart Rose has kept his job after a planned shareholder revolt at the retailer’s annual meeting yesterday turned into no more than a whimper. Over 94 per cent of the grey-haired army that braved the rain to descend on the Royal Festival Hall on London’s South Bank yesterday afternoon to [...]
