Netflix subscriber numbers fall short as Covid-19 lockdown boost fizzles October 20, 2020 Netflix tonight posted the weakest new subscriber numbers in four years as streaming competition increased, lockdowns eased and live sports returned to television. The company added 2.2 million paid Netflix subscribers globally during the quarter to 30 September, missing Wall Street’s target of 3.4 million. Earnings per share also landed below analyst expectations at $1.74. [...]
Boohoo kicks off search for new auditor as PwC steps down October 19, 2020 Controversial fast fashion retailer Boohoo (BOO) has launched a search for a new auditor, with PwC stepping down in the wake of a report into abuses in the clothes company’s supply chain. Boohoo said in a statement that it had “recently launched a competitive tender process for the group’s audit”. It said that PwC – [...]
Falling through the cracks: How Covid-19 has put London’s events sector on the brink October 19, 2020 Perched on the banks of Regent’s Canal, Kings Place is — in normal times — one of London’s most popular events venues. From conferences and concerts to dance workshops and comedy shows, the glass-fronted building has played host to an array of spectacles in recent years. But since the coronavirus lockdown descended in March, Kings [...]
Retail mogul Mike Ashley makes fresh bid for Debenhams October 18, 2020 Sport Direct tycoon Mike Ashley has reportedly made a fresh bid for Debenhams, reviving his long-standing pursuit of the department store chain. The retail billionaire this month submitted an improved offer as the auction for Debenhams nears its final stages, the Sunday Times reported. Debenhams, which collapsed into administration in April, has hired Lazard to [...]
The Week in Sportbiz: Uncle Sam is coming for cricket, Nigel Wray bets on fitness and sports reveal trans policies October 16, 2020 Not content with trying to carve up the Premier League, Americans now have another English sacred cow in their sights: cricket. The game’s Stateside governing body today announced ambitious plans to become a major mainstream sport across the Atlantic – and achieve full member status with the International Cricket Council within a decade. USA Cricket [...]
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 [...]