Calls for better governance at Sports Direct heighten, after Mike Ashley defies the will of the company’s other shareholders January 5, 2017 Sports Direct has today sparked more ire over the state of its corporate governance, including calls for a rethink on how listed firms are overseen The comments come after a second vote in less than half a year on whether to keep Keith Hellawell as chairman was waved through at the company's general meeting, as chief [...]
Independent shareholders vote to boot Sports Direct chairman, but Mike Ashley saves his right-hand man January 5, 2017 The independent shareholders of Sports Direct have voted to boot the retailer's chairman Keith Hellawell, but the company's boss Mike Ashley has saved his right-hand man. Fifty-four per cent of independent shareholders voted to get rid of Hellawell, who has presided over several profit warnings at the company. Read more: Shareholder advice group calls for [...]
Ex-migration chief recruited to crack down on workplace exploitation January 5, 2017 The former chair of one of an independent migration watchdog has been recruited to lead a government crackdown on exploitation of workers. Sir David Metcalf has sat on the Migration Advisory Committee since its creation in 2007, and will now serve as the first director of labour market enforcement. Metcalf, who was also a founding member [...]
Shareholder advice group Pirc and Aberdeen Asset Management call for Sports Direct chairman to be axed January 3, 2017 Shareholder advice group Pirc has called on investors to drop Sports Direct's chairman in a vote on Thursday. Aberdeen Asset Management has also backed calls for chairman Keith Hellawell to go. Read more: Sports Direct chairman: I have dealt with killers, I can survive board heat Hellawell faces expulsion after the majority of the retailer's independent [...]
Retail cold snap: New Year footfall plummets at Britain’s shopping centres January 2, 2017 The UK high street experienced a sales cold snap at the weekend as new figures showed footfall fell nearly 13 per cent nationwide while in shopping centres it slumped by a massive 50 per cent. Poor weather, an early December spending spree and bank holiday trading hours deterred shoppers from venturing outdoors on New Year’s Day, [...]
Sports Direct shareholders to vote on fate of chairman this week, following investors’ revolt at AGM January 2, 2017 Sports Direct shareholders will meet on Thursday to decide whether the retailer's chairman should keep his seat. Dr Keith Hellawell, a former chief constable in his 70s, failed to find favour with investors in the company's annual general meeting in September, with just 47 per cent of independent shareholders voting to keep him as chair. Although the [...]
From Southern rail’s backfiring poster to Google’s April Fool prank gone wrong: Six of the most memorable business blunders of 2016 January 1, 2017 2016 has been an interesting year to say the least. There has of course been a plethora of notable political events over the past 12 months, but there’s also been plenty going on in the business world. With that in mind, here are some of the most memorable company clangers from over the year – from [...]
New Year’s honours 2017: The full rundown of the business community’s representatives on this year’s list December 31, 2016 The British business community was well represented on the New Years honours list, with entrepreneurs and executives featuring prominently amongst the more than 100 figures recognised for services to the industry and economy. Here's a run down of some the most notable business names who received the official seal of approval this year. Read more: Arise, Dame Inga – Lloyd's of [...]
Zero-hour workers hit by £1,000 “precarious pay penalty” December 30, 2016 Workers on zero-hours contracts battle an average £1,000 "precarious pay penalty", compared to those with traditional employment terms. According to the Resolution Foundation think tank, there is a notable pay penalty associated with such contracts. It said while zero-hours workers earn less than permanent employees; 38 per cent less on average, many people put this down [...]
From Brexit to Trump, interest rates to the steel crisis, these are the pictures that defined business in 2016 December 28, 2016 Let's face it, a lot's happened this year. 2016 was the year that brought us surprise, seismic political changes, pushed commodities markets through yet more turbulence and took down another stalwart of the British high street. @afneil If you're at a Quiz in the future and the question starts 'Which year did . . ' [...]