BHS collapse: Sir Philip Green set to appear before MPs next week June 8, 2016 Billionaire retailer Sir Philip Green will be given the chance to present his side of the remarkable story of BHS’ collapse when he appears before MPs next week. The former BHS owner, who will answer questions from two Westminster committees, faced a wave of criticism during today's parliamentary sessions. Green sold the business to Retail Acquisitions, [...]
BHS select committee: The six best moments from today’s hearing featuring the former senior team, Retail Acquisition’s management and ex-owner Dominic Chappell June 8, 2016 MPs embarked on a marathon evidence session over the collapse of BHS this morning – and it featured death threats, yachts, and countless other incredible revelations. In case you had other things to do during the four-and-a-half hour hearing, we've put together a list of the best moments from an extraordinary select committee session. [custom id="157"] 1. [...]
PMQs today: Prime Minister David Cameron under pressure on zero-hour contracts and comments by pro-Leave ministers June 8, 2016 Prime Minister David Cameron came under fire from opposition in PMQs today on zero-hour contracts in the aftermath of the revealed exploitation at Sports Direct. "Will the Prime Minister do what some other European countries have done and ban exploitative zero-hour contacts here?," Labour leader Jeremy Corbyn asked. David Cameron acknowledged that the practice of Sports [...]
Dominic Chappell faces MPs’ questions on BHS collapse as retailer’s management appear at BIS select committee hearing June 8, 2016 Former BHS owner Dominic Chappell, the majority shareholder of Retail Acquisitions, which bought BHS for £1 last year from Sir Philip Green, is giving evidence on the retailer's collapse this morning. The business, innovation and skills (BIS) select committee has already heard explosive evidence about the sale of BHS to Retail Acquisitions and its subsequent demise – with [...]
After grilling Mike Ashley about Sports Direct working practices, is it fair for MPs to demand business leaders account for themselves before Parliament? June 8, 2016 Ioannis Ioannou, associate professor of strategy and entrepreneurship at London Business School, says Yes. Yes, it is fair. To the extent that Parliament acts in good will to protect the long-term interests of society at large (as opposed to serving short-term political objectives), demanding transparency and accountability from companies that have a material impact on societal [...]
Sports Direct debacle: “I’m not Father Christmas,” says Mike Ashley June 8, 2016 Sports Direct boss Mike Ashley admitted to MPs yesterday that some of the working conditions at the firm were “unacceptable”, arguing that he could not control every aspect of his company. Addressing the Business, Innovation and Skills Select Committee, which is investigating the retailer for poor working practices, Ashley said: “I can’t be responsible for [...]
At the close: Gushing oil pushes the FTSE 100 higher as miners slip after recent gains June 7, 2016 The FTSE 100 managed a modest rise today, falling back from much bigger gains directly after the open. The blue-chip index added 0.2 per cent to close at 6,284.53. The initial burst came as a result of Royal Dutch Shell earmarking 10 per cent of its oil and gas production assets for sale, which would result in the [...]
Here are the very best quotes from Mike Ashley’s appearance at the business select committee June 7, 2016 Mike Ashley put in an explosive performance appearing in front of MPs today to defend the working practices at Sports Direct. The Twittersphere went wild as Ashley not once, but twice, denied that he is Father Christmas. But what else did Ashley, who only rarely puts in media appearances, say? Here are some of the very [...]
Mike Ashley admits he can’t control Sports Direct June 7, 2016 Mike Ashley has spoken candidly about the working conditions at Sports Direct, saying he cannot know everything occurring in his company and that some practices were unacceptable. Ashley said: "I can't be responsible for everything that goes on at Sports Direct." "This is a process of growth, and the growth has been too big." Ashley said the success of [...]
Sports Direct founder Mike Ashley to answer MPs’ questions this morning June 7, 2016 Sports Direct's billionaire founder Mike Ashley will finally face MPs' questions this morning, after months of avoiding calls to appear in front of the business, innovation and skills (BIS) select committee. Ashley will be quizzed over allegations about working practices at the company's Shirebrook warehouse in Derbyshire. Sports Direct has been criticised for its treatment [...]