Mike Ashley’s Frasers Group bids for DW Sports August 16, 2020 Mike Ashley’s Frasers Group has reportedly made a bid for DW Sports, the sports retail empire of his old rival Dave Whelan which collapsed earlier this month. DW Sports announced it had appointed BDO as its administrator at the start of August. It said it would be winding down its retail business, with its website [...]
Wanted: A plan to save London August 7, 2020 The motto of the City of London is “Domine dirige nos”: Lord, direct us. But who is directing the capital as we struggle to comprehend the future in the wake of the Covid-19 pandemic? In the UK, we are notoriously poor at strategic planning (except, perhaps, in times of war). Partly, this is an ideological [...]
Disney’s earnings take a hit as pandemic wreaks havoc on theme parks business August 4, 2020 Disney reported a profitable third quarter but missed analysts’ expectations as it battled the effect of coronavirus on its theme parks business. Revenue for the quarter was $11.78bn, substantially less than the $20.35bn in the comparable period, and missing the expected $12.39bn. Net loss from continuing operations was $4.72bn, or $2.61 per share, in the [...]
Government-backed coronavirus lending tops £50bn August 4, 2020 Banks have now lent £50.7bn to companies through the various government-backed coronavirus loan schemes, official figures showed today. By far the biggest programme is the bounce back loans scheme (BBLS), which had seen banks lend out £34.34 to small businesses as of yesterday, the Treasury said. It comes with a 100 per cent government guarantee [...]
London’s bowling alleys, comedy clubs and arts venues slam fresh lockdown as life-threatening July 31, 2020 London venues have slammed the Prime Minister’s decision to U-turn on plans to reopen tomorrow as “pulling the rug out” from underneath them. In a press conference today, Boris Johnson said plans to reopen venues tomorrow will be pushed back until at least 15 August, following a sharp spike in coronavirus infections. Night clubs, casinos, [...]
Casinos blast new lockdown measures as ‘sickening’ July 31, 2020 Britain’s casinos have slammed the Prime Minister’s decision to U-turn on plans to ease lockdown restrictions tomorrow as “sickening”, warning that business hangs in the balance with venues forced to shut over the critical summer months. In a press conference today, Boris Johnson said plans to reopen venues tomorrow will be pushed back until at [...]
Mike Ashley’s Game offloads UK e-sports arena network July 29, 2020 Game Digital is selling off its Belong Gaming e-sports arena network to US startup Vindex, following the forced closure of its locations during the coronavirus pandemic. New York-based Vindex intends to immediately begin rolling out new locations across the US, with Game Digital’s chief executive Martyn Gibbs to join the firm as Belong’s new boss. [...]
A digital tax is no way to reward our innovative online retailers July 28, 2020 Throughout lockdown, the advantages — indeed, the essentiality — of online retail became clear. Now, Rishi Sunak is rumoured to be mulling over a new online sales tax. Advocates for this new tax, such as SportsDirect owner Mike Ashley and Tesco boss Dave Lewis, believe that the existing business rates system creates an uneven playing [...]
Sports Direct owner Mike Ashley warns of closures after business rates review delay July 22, 2020 Mike Ashley’s Frasers Group, formerly known as Sports Direct, has warned it could be forced to close stores after the government delayed a business rates review. The government has promised a “fundamental review” into the long-term future of business rates. In March it gave retail, hospitality and leisure businesses a year-long holiday from the tax [...]
Porsche Cayman GTS 4.0 review: The joy of six July 18, 2020 I was blissfully ignorant at the time, but this would be my final fling. A few days later, the UK entered lockdown, and the freedom to simply go for a drive was abruptly revoked. In the weeks and months that followed, I often thought about that afternoon. Confined to Croydon, sealed off from friends and [...]