Exclusive interview with Christian Horner: Formula One’s new owners Liberty Media must grab bull by the horns, says team boss March 2, 2017 Turning into the Tilbrook business park on the outskirts of Milton Keynes, one feels a million miles from the glamour and pizzazz of Formula One – yet here lies the unassuming headquarters of Red Bull Racing, the team led by Christian Horner since its inception nearly 13 years ago. An opulent trophy wall greets visitors, [...]
Christian Horner says Formula One must attract more fans to keep Red Bull in the sport March 2, 2017 Christian Horner, principal of Red Bull Racing, has said his team could quit Formula One if the sport fails to attract more fans. Speaking to City A.M. ahead of Red Bull’s 13th season in F1, Horner said the company "will pay a very keen watching brief to see what is going to be the future [...]
Jaguar Land Rover says the new Range Rover Velar will be built in the UK as a sign of “confidence in British manufacturing” March 1, 2017 Jaguar Land Rover has said the new addition to the Range Rover family, the Velar, will be built exclusively in Britain, as a sign of the "firm's confidence in British manufacturing". The model, which launches later today, will be built at its Solihull manufacturing plant in the West Midlands. JLR, which has plants abroad in China, Brazil, [...]
Liverpool suffer £20m loss as revenue lags behind Premier League rivals March 1, 2017 Liverpool suffered a £19.8m loss last season despite generating more revenue than ever before. The Premier League side boosted revenue by £3.9m to a club record £301m, yet finished the year in the red as a result of "further investment and turnover in the first team squad" in the year ending 31 May 2016. Twelve [...]
Next Liverpool CEO Peter Moore signals new direction for the club – six things you need to know February 28, 2017 As their team nursed the wounds of a bruising 3-1 defeat to Leicester City on Monday night, Liverpool made an announcement that could have much further-reaching implications than a disappointing loss in the league. The club revealed that from June its new chief executive will be Peter Moore, currently chief competition officer at video game giants Electronic [...]
High street stalwart Debenhams shakes off payment scandal February 22, 2017 Last week, Debenhams was named by the government as one of the worst companies for underpaying staff. YouGov Brand Index data shows how the news has altered perception of the brand. Over the last year, I have discussed how adverse stories about pay have damaged companies including Sports Direct and Harrods, but also how positive [...]
We drive an updated model of the classic 90s roadster to see if its new retractable roof is as reliable as it is ravishing February 20, 2017 F or such a lightweight, the original Mazda MX-5 packed a mighty punch. In 1990, when the original MX-5 finally arrived in the UK, this feather-light and affordable roadster upset the establishment. It was the closest thing to a great British sports car since the death of the MGB in 1980. Sure, Lotus beat Mazda [...]
Regulators make Mike Ashley backed firm pay £12.5m back to customers February 17, 2017 A division of Findel, the London-listed firm backed by Sports Direct, has agreed with financial regulators to pay £12.5m back to customers for insurance products that "offered little or no value". Personal shopping firm Express Gifts, one of the two main divisions of Findel, sold either property insurance or purchase protection insurance products to customers between 2005 and 2015. [...]
Argos fined £1.5m for not paying workers the national minimum wage February 16, 2017 Home Retail Group has been fined £1.5m for not paying 37,000 Argos workers the national minimum wage. The business said it was paying back current and previous workers £64 each, with the total cost coming to £2.4m. If the company pays back HM Revenue and Customs within 14 days, it will only have to pay £800,000. Read [...]
Firms are wising up on the need to reform executive pay February 16, 2017 To mere mortals, executive pay can sometimes seem out of this world. Gary Cohn, the former Goldman Sachs No2 who is now director of the National Economic Council in the US, was awarded $284m (£227m) by the Wall St bank upon departure. In the UK, the best paid chief executive is WPP’s Sir Martin Sorrell, whose [...]