Sports Direct and Adidas score a deal to sell kits July 17, 2014 SPORTS DIRECT said yesterday that it had held “encouraging talks” with Adidas, after the iconic German sportswear brand refused to provide it with key kit for the teams it sponsored at the World Cup. Adidas withdrew replica shirts for countries including winners Germany – and Premier League teams such as Chelsea – because it was [...]
Mothercare share price slumps as new boss warns chain needs nursing July 17, 2014 Shares in Mothercare slumped 8.7 per cent yesterday after the baby product group’s new boss warned that it was in need of an overhaul to compete with rivals. Mark Newton-Jones, who was made chief executive last week after four months serving as interim chief, said many of its practices were “outdated” when compared with other [...]
Heron Tower won’t become Salesforce Tower – at least not yet July 17, 2014 The City of London has decided to delay a controversial vote over whether to grant the Heron Tower permission to rename itself after its biggest tenant Salesforce, in a new twist to the saga. The City's planning and transportation committee said that the decision would be reviewed at a special meeting in August after members [...]
Ashley kicks bonus into touch and shocks City July 16, 2014 SPORTS Direct founder Mike Ashley stunned the City yesterday after pulling out of a controversial £200m bonus scheme just weeks after winning investors’ support. The sporting goods giant said that after talks with the remuneration committee, Ashley told the board that he did not wish to be awarded any shares under the 2015 bonus scheme. [...]
OnTheMarket: Estate agents to launch new site to rival Zoopla and Rightmove July 16, 2014 A group of estate agents yesterday announced that they had joined forces to create an online property portal to challenge the dominance of Zoopla and Rightmove. They said the portal would launch in January under the name OnTheMarket. Agents’ Mutual was founded last year by some of Britain’s biggest estate agencies, including Knight Frank and [...]
Glh Hotels plots more new sites July 16, 2014 THE SINGAPOREAN owners of London’s Cumberland and Thistle Hotels announced plans yesterday to launch 50 hotels globally over the next 10 years under a new four star hotel brand. Glh, the London-based hotel company owned by Singapore-listed GuocoLeisure Group, said it would strip out hotel meeting rooms, restaurants and spas under the new hotel brand [...]
Ex-Boots boss Richard Baker to take up chair at Whitbread July 16, 2014 Costa Coffee and Premier Inn owner Whitbread has appointed one of its non-executive directors, the former Boots chief executive Richard Baker, to take over as chairman. Baker, who has sat on the board since 2009, will replace Whitbread’s longserving chairman Anthony Habgood in September. Habgood announced in January that he would be retiring after nine [...]
Russian hypermarket Lenta eyes expansion as its sales accelerate July 16, 2014 Russian hypermarket chain Lenta said it expects full-year sales to accelerate further despite the backdrop of a slowing economy, as it aimed to expand its presence across the country by a third. The group, which floated in London in February, expected sales to grow by 34 to 38 per cent this year, a step up [...]
Morrisons hands over Kiddicare to private equity group Endless July 14, 2014 Supermarket chain Morrisons confirmed yesterday it has sold its Kiddicare business to private equity group Endless Capital for £2m. The Yorkshire-based grocer bought the online baby products retailer in 2011 for £70m as part of its bid to build its online presence. However, the company announced in March that it had taken a £163m writedown [...]
SFO to probe Sweett Group bribery claims July 14, 2014 SHARES in Sweett Group tumbled 8.4 per cent yesterday after the Serious Fraud Office (SFO) launched a probe into an alleged bribe by a former employee to secure a $100m (£58.2m) construction deal in Morocco. The 86-year-old surveyor, which oversaw the fit-out of the Shangri-La hotel in the Shard, hired lawyers last year to investigate [...]
