Sports Direct is in the hot seat again this week December 4, 2016 Sports Direct will be in the spotlight again this week as it reports its interims on Thursday. Analysts are predicting chief executive Mike Ashley will announce a profit fall of 25 per cent to £170m. The City will also be looking for signs that Sports Direct is improving its corporate governance, something the retailer promised to focus [...]
In Theresa May’s exec pay crusade, the devil will be in the detail November 29, 2016 It’s positive to have a Green Paper to allow a proper debate; the detail of legislation – and amendments to it – will matter a lot. It will be particularly interesting to see the detail of how extending the “comply or explain” Governance Code to private companies will operate. The system presently works with public [...]
Businesses back May’s tweaked approach to governance as green paper hints at fresh u-turns November 29, 2016 Businesses have welcomed new proposals on corporate governance which appear to show Theresa May continuing to tweak her stance on the sector. The widely-trailed plans included proposals to make publicly-listed firms publish pay ratios, and introduce a form of representation on public boards. But May had already backtracked on forcing firms to directly hand workers non-exec [...]
Sports Direct accounts probe announced by watchdog November 28, 2016 The accountancy watchdog has today launched an investigation into Sports Direct, probing into claims surrounding the relationship between the retailer and a firm run by chief exec and founder Mike Ashley's brother. In particular, the Financial Reporting Council (FRC) is taking a closer look at the accounts for the 52 weeks to 24 April and whether [...]
Black Friday 2016: Five fitness and activewear-tastic bargains to snap-up, stay fit and stay warm November 24, 2016 Usually the time to think about getting fit is after you have plumped yourself up full of turkey and Christmas pud… not before. But there are a bundle of Black Friday activewear deals out there so you can get a headstart on a healthy 2017. Or at least, grab a bargain that will stay in its box until your return to [...]
Retailers’ share prices stung by the rise in the national living wage in the Autumn Statement November 23, 2016 Retailer's share prices are suffering this afternoon after chancellor Philip Hammond said the national living wage would rise in April next year. The national living wage hourly rate will increase from £7.20 an hour £7.50 an hour in 2017, Hammond said. Read more: The National Living Wage is going up again next April The change [...]
Leicester City’s Premier League title win delivered £140m to the local economy – and this year it will be even more November 21, 2016 Leicester’s Premier League title triumph contributed £140m to the local economy during 2015-16, according to a new study, and that figure is expected to rise again this season. The Foxes’ historic 5000-1 success delivered a total economic output of £193m, generated taxes of £78m and supported 2,500 jobs, the report by EY for the club [...]
Why the famed “hairdryer treatment” dished out by Sir Alex Ferguson at Manchester United should not be used as a leadership template November 11, 2016 Sir Alex Ferguson was unusually coy this week. When giving a talk to the World Business Forum in Milan the former Manchester United boss claimed his infamous "hairdryer treatment" was more myth than reality, a story that grew during his 27-year tenure at Old Trafford. "It happened about half a dozen times in 27 years and the [...]
Sandwichgate: The chair of the Business Select Committee has written to Mike Ashley and he’s not happy November 9, 2016 The chair of the Business Select Committee that paid Sports Direct a memorable visit earlier in the week, has written to Mike Ashley. And boy, he's not happy. "For an organisation in the process of reviewing its corporate governance and working practices, it is difficult to understand how a representative of the company thought that [...]
New targets to have women in 33 per cent of top exec jobs by 2020 unveiled November 8, 2016 New targets has been set for FTSE 100 companies to have at least 33 per cent of their executive pipeline positions filled by women for 2020. The government-commissioned Hampton-Alexander Review has been unveiled with statistics to be released tomorrow showing that 25 per cent of those currently sitting on FTSE 100 exec committees and their direct [...]