When it comes to public perception it pays not to short-change staff February 1, 2017 Towards the end of December, there was a row involving luxury department store Harrods. Waiting and kitchen staff took industrial action because they alleged that the business’s owners retained up to 75 per cent of service charge, which reduced pay by up to £5,000 a year. Harrods has subsequently vowed to let staff keep 100 [...]
Why could digital tech reach over $2.7 trillion by 2020? January 30, 2017 Whether it’s big data, artificial intelligence (AI), cloud storage or cyber security, the effects of digital technology development are all around us. Recognised as the third industrial revolution, we are experiencing one of the most transformative periods in history. Digital – transforming our industrial society In 2001, a group of software developers met at the [...]
Corporate governance: Board reformers must not rest on their laurels January 27, 2017 Six months ago, corporate governance suddenly shot to the top of the political agenda when Theresa May formally launched her Conservative Party leadership campaign. She said that the scrutiny non-executive directors provide “is just not good enough”, adding “we’re going to change that system – and we’re going to have not just consumers represented on [...]
Could vanity be your downfall? Skiers warned of selfie injuries January 25, 2017 Millions of Brits heading to the mountains to play in the white stuff this winter have been warned that taking an innocuous selfie could ruin their holiday. A startling 51 per cent of people have injured themselves while trying to photo their exploits – and 28 per cent of these have been carted off by medical services [...]
And then there was one: Sports Direct splits from top brokers January 23, 2017 Sports Direct has split from three of its brokers, announcing today that Liberum Capital would be its sole broker from hereon. The controversial retailer's former collection of brokers was made up of City heavyweights Goldman Sachs, Citi and Haitong. Haitong and Citi are both neutral on the company's shares, while, last May, Goldman Sachs stopped recommending [...]
British sports car maker Zenos has gone into administration January 20, 2017 The Norfolk-based manufacturer of lightweight sports cars, Zenos, has revealed that it’s entered administration – citing a downturn in sales for it ceasing trading. The start-up company has been punching above its weight since it launched the brilliant E10 in January 2015. Journalists raved about the £26,995 Lotus rival – but, ultimately, it wasn’t enough [...]
Trump the brash succeeds Obama the failure, but the inauguration itself is a thing of beauty January 20, 2017 Don't drag your feet on the way out, Mr President. Even in these uncertain times, the fear of what comes next can’t sugar-coat the agony of what came before. No doubt we’ve all been charmed by President Obama these past few months. Our awareness of who is to follow, combined with the more easy-going nature of [...]
Shareholder group hits outs at Sports Direct’s “disappointing” failure to conduct an independent governance review January 16, 2017 Sports Direct is under fire for its failure to find an independent organisation to conduct a review of its corporate governance. The retailer has been pressed by shareholders to shake-up its corporate governance after a string of profit warnings and a parliamentary inquiry that concluded its Shirebrook warehouse was run like a "Victorian workhouse". Read [...]
These are the key trends in retail in 2017 – and who will benefit from them January 16, 2017 The Christmas reporting season isn't over yet – the market is awaiting updates from Dixons Carphone and WH Smith – but the figures that have been reported so far have indicated some of the key retail trends investors should watch out for this year. Read more: Brexit vote boosts Hugo Boss The outlook for the UK consumer [...]
Mike Ashley’s patience runs out: Sports Direct appoints law firm despite previous investor sentiment January 14, 2017 Sports Direct has controversially appointed RPC to take control of its eagerly anticipated corporate governance review after two failed attempts at appointing alternative candidates. In an announcement to the stockmarket after it closed yesterday evening, Mike Ashley's firm said it had appointed the law firm, despite previous concerns from key investors over RPC's impartiality. Read more: [...]