Sports Direct issues new tannoy policy as it releases report into shortcomings in working practices September 6, 2016 Sports Direct has issued a new set of guidelines for employees using the tannoy system at its warehouse in Shirebrook – and told workers it should never be used for rebukes or criticisms. The retailer has previously come under fire for a number of its alleged working practices at the north of England warehouse, and one [...]
Sports Direct share price rockets as it admits to serious shortcomings at Shirebrook warehouse and offers guaranteed hours to staff September 6, 2016 Sports Direct has admitted to serious shortcomings in the working practices at its Shirebrook warehouse, and plans to make changes to the way its workers are treated, the company said in a report released today. Shares in the company were up 5.5 per cent in this morning's trading. The retailer said it will offer casual retail staff guaranteed [...]
Theresa May can reform Britain’s companies for the better – and she doesn’t need reams of new regulation to do it September 5, 2016 Britain's new Prime Minister Theresa May has created a big challenge for herself in proposing wide-reaching reform of the way companies are run. A close look at the existing Company Law, however, could help her deliver an important part of this agenda without a large swathe of new rules and regulations. Her suggestions that worker [...]
Delaying the inevitable: How long can central banks extend the credit cycle? September 5, 2016 Calling the end of the current credit cycle is becoming an increasingly popular sport among seasoned market-watchers. While there is division over exactly when it will conclude, the consensus is it will be soon. Last week, Deutsche Bank analysts came to the conclusion that they were “not quite ready to call the end of the [...]
Liberum analysts urge Sports Direct shareholders to “align their interests” with Mike Ashley’s September 5, 2016 Investors are competing to see who can shout the loudest over the questionable corporate governance of Sports Direct – but one set of analysts has urged investors to "align their interests with those of the founder" Mike Ashley. Liberum analysts said today that shareholders only need to look at Sports Direct's past to understand. Things aren't actually bad for [...]
Royal London attacks Sports Direct over corporate governance issues ahead of AGM September 4, 2016 Two major investment firms are set to join a revolt against Sports Direct’s corporate governance at a crunch AGM on Wednesday. Royal London and Hermes will vote against several board appointments. Royal London Asset Management, which owns a £2.75m stake in the retailer, also pushed Sports Direct to commission an independent external review into its working practices. The [...]
Asos vs Assos: Asos just paid out £20m to settle a trademark dispute September 2, 2016 In the battle of Asos vs Assos, there were only ever going to be two winners. Online retail giant Asos announced today it had settled a trademark dispute with Assos of Switzerland, a high-performance cycle wear manufacturer and German menswear retailer Anson's Herrenhaus. Asos said it will pay a total of £20.2m in cash to Assos and [...]
Sports Direct and Debenhams will be hardest hit by Brexit, according to Canadian bank RBC – here’s why August 30, 2016 Debenhams and Sports Direct are likely to be two of the retailers hardest hit by Brexit, according to Canadian bank RBC, due to currency pressures and rising costs for the industry. The analysts predicted that disposable income in 2017 would be flat – as compared to growth of around five per cent this year – [...]
ISS has reportedly joined the growing revolt against Sports Direct owner Mike Ashley August 26, 2016 Sports Direct owner Mike Ashley is facing a growing revolt and Institutional Shareholder Services (ISS) is reportedly advising investors to oppose his re-election to the retailer's board. City A.M. revealed today that fellow shareholder advisory groups Glass Lewis and ShareSoc were backing a shake-up at Sports Direct, with the former calling on investors to vote [...]
Free music for EE customers… for six months at least August 26, 2016 Britain's largest mobile phone carrier has announced a tie-up with Apple Music that will see customers receive a free six month subscription. EE – now owned by telecoms giant BT – said that any new monthly customers or those renewing their contracts could benefit from the free service. “The deal is a coup for EE that [...]