This week’s legal roundup October 7, 2020 Charles Kerrigan, Partner at CMS Law writes today’s legal briefing which is a sports roundup up of progress towards institutional acceptance of digital assets. These stories are unrelated except that they show the range of important constituents working on these questions at the same time. Andrew Bailey, the Governor of the Bank of England, gave [...]
Frasers Group launches charm offensive to boost reputation over treatment of staff October 7, 2020 Mike Ashley’s Frasers Group today launched a charm offensive against shareholders and the City over the firm’s treatment of workers, which has previously been the subject of intense scrutiny. Speaking at this morning’s annual general meeting, non-executive chairman David Daly said the firm’s elevation strategy, which has seen it target a high-end retail reputation, also [...]
Mike Ashley’s Frasers Group urges investors to back employee bonus scheme October 7, 2020 Mike Ashley’s Frasers Group has urged shareholders to back an employee bonus scheme, which would require the retailer’s share price to triple before workers receive a payout. Ahead of this morning’s annual general meeting, the firm, which has come under fire recently over reports that staff were asked to work while on furlough, called on [...]
See A Film Out To Help Out: Five ways to save the film industry October 7, 2020 In this uncertain and unnerving year, there seems to be little light at the end of the tunnel, particularly for people working in the UK’s film industry. This week, Cineworld confirmed its plans to place all of its own cinemas and those of its Picturehouse brand in an unprecedented winter hibernation — meaning the loss [...]
Mike Ashley faces shareholder showdown over re-election as Frasers boss October 6, 2020 Mike Ashley is facing a shareholders revolt at the Frasers Group annual general meeting tomorrow, following claims that employees were forced to work while furloughed during the coronavirus lockdown. Shareholder advisory service Pirc has recommended that investors oppose Ashley’s re-election as chief executive of the retail group, which was formerly known as Sports Direct. The [...]
We’ve spent months on Zoom, but we mustn’t forget to “zoom out” September 7, 2020 When threatened, human beings automatically focus intently on the danger. This amazing ability to “zoom in” is why you’re here. It kept your ancestors alive while others weren’t so lucky. In hunter-gatherer tribes, threats were short-lived but lethal. When a rival clan runs out from the trees, being focused pays off. However, what kept our [...]
Mike Ashley’s Frasers Group buys DW Sports out of administration for £37m August 24, 2020 Mike Ashley’s Frasers Group, formally known as Sports Direct, has bought the assets of DW Sports for £37m after the gym chain collapsed into administration earlier this month. Frasers said this morning that it had acquired “certain of the assets relating to DW’s gym and fitness business, including certain stock”. The deal excludes the DW [...]
Frasers shares jump 16 per cent on growth forecast despite profit hit August 20, 2020 Shares in Mike Ashley’s Frasers Group jumped 16 per cent this morning after it said it expected growth of up to 30 per cent this year, despite profit falling one-fifth in the year to April. Frasers, which was formerly called Sports Direct, released its preliminary results today, a week after they were scheduled to come [...]
UK firms cut more than 106,000 jobs amid coronavirus pandemic August 19, 2020 The coronavirus pandemic has battered the UK economy since it arrived in early 2020 – and no sector has remained unscathed, with more than 100,000 job cuts planned during the pandemic. The government’s furlough scheme has allowed millions of people to keep getting a paycheck, but fears are growing that when this is phased out [...]
Coronavirus: Cineworld in legal battle over unpaid lockdown rent August 17, 2020 Cineworld is said to be facing a legal challenge from one of its landlords after the cinema chain failed to pay rent during the coronavirus lockdown. The London-listed cinema group is understood to be withholding rent from property giant AEW after it was hit by closures due to the Covid-19 crisis. AEW has now filed [...]