Mike Ashley’s Frasers Group misses out on coronavirus loan, settles Belgian tax bill April 24, 2020 Mike Ashley’s Frasers Group’s application for a coronavirus loan has been rejected, it admitted today, as it finally settled a €674m (£588m) Belgian tax bill. Frasers Group (formerly Sports Direct) saw it application for a government bridging loan denied, sending shares down 2.4 per cent. The Covid Corporate Financing Facility (CCFF) scheme is open to [...]
BeIN Sports urges Premier League to block Saudi bid for Newcastle April 22, 2020 Broadcasting giant BeIN Media has urged the Premier League to block a proposed £300m Saudi takeover of Newcastle United amid concerns about “industrial scale” piracy. Newcastle owner Mike Ashley is said to be on the brink of accepting a takeover offer from a consortium backed by Saudi Arabia’s sovereign wealth fund. However, the chief executive [...]
RSM elects new chief executive as Grant Thornton cuts wages April 21, 2020 Challenger accountancy firm RSM last night elected a new chief executive after a marathon virtual general meeting while rival Grant Thornton slashed wages to help survive the coronavirus crisis. RSM announced last night shortly before midnight that former corporate finance head Rob Donaldson had claimed the top job. The Telegraph reported that Donaldson saw off [...]
Kurt Geiger: Customers will remember retailers’ coronavirus response April 17, 2020 Businesses that protect employees and support the NHS during the coronavirus pandemic will be rewarded by customers when the crisis is over, according to Kurt Geiger’s chief executive. “Customers will remember who has done the right thing, and who maybe hasn’t, and we want to be on the right side of that when we come [...]
Compassionate capitalism can underpin our coronavirus recovery April 17, 2020 This Covid-19 coronavirus crisis could all be over by autumn. Or by this time next year. We simply do not know. What we do know, however, is that we will need to think carefully and radically about how this country is going to recover from the devastation left behind by the coronavirus pandemic. This pandemic [...]
Coronavirus: Sports Direct-ly to a negative reaction April 15, 2020 Sports Direct recently attempted to keep its stores open despite the Government’s COVID-19 lockdown – arguing that, with gyms closed and Brits stuck indoors, exercise equipment counts as an essential service. YouGov polling reveals that the public overwhelmingly disagrees. Some 95% of Brits believe that sports equipment stores are not key services, and just 3% [...]
Video games firms tapped to feature in-game coronavirus health messages April 6, 2020 The government has teamed up with the British video games industry to insert public health information about coronavirus into some of their most popular hits. Candy Crush Saga, Sniper Elite 4 and Dirt Rally 2.0 are among the games that will feature the ‘Stay at Home, Save Lives’ slogan. The government has already launched ads [...]
Coronavirus: Could the crisis accelerate the need for ESG communications? April 2, 2020 As Britain digests daily press conferences about Covid-19, the words and actions of business leaders are starting to come under increased scrutiny. As small businesses across the country seek banking loans to stay afloat and employees face being furloughed or even made redundant – what leaders do today and how they communicate will have a [...]
Mike Ashley’s Frasers Group cuts executive pay amid coronavirus crisis April 1, 2020 Mike Ashley’s Frasers Group, formerly known as Sports Direct, has reportedly agreed to cut executive pay in order to continue to pay shop floor staff during the coronavirus crisis. Members of the retailer’s senior management team have agreed to reduce their basic pay to a maximum of £40,000 per year from May. The reduction will [...]
Brands that put staff and customers first see popularity soar April 1, 2020 As Britain settles into its second week of lockdown, daily life has become almost unrecognisable. The retail industry has been hit hard as a direct result of enforced closures and decimated consumer demand, leading many businesses to issue profit warnings, withhold rent and lay off staff. However, there are brands who have reacted well to [...]