Sports Direct’s share price soars as it announces £90m share buyback July 28, 2016 Sports Direct's share price was up 13 per cent this morning after the company announced a £90m share buyback. The buyback represents roughly five per cent of the fitness retailer's share capital and will be taking place in the lead-up to the company's annual general meeting (AGM) on 7 September. Read more: Four of the most jaw-dropping [...]
Calls grow for major reform of business governance and pay ratios July 26, 2016 British business is facing fresh pressure to undergo major reform, with Prime Minister Theresa May pledging to overhaul capitalism and revamp corporate governance. The influential Institute of Directors (IoD) has added to the clamour for change by calling for a review of corporate governance, while the Investment Association will today call for greater pay disclosure [...]
Prime Minister Theresa May wants to reform capitalism, according to Number 10 July 25, 2016 Prime Minister Theresa May wants to reform capitalism in the wake of the parliamentary inquiry into the collapse of BHS. A spokesperson for May said the Prime Minister wants to "tackle corporate irresponsibility and reform capitalism to make sure it works for everyone not just the privileged few". Read more: Seven numbers explaining the demise of [...]
These companies have been the FTSE high-fliers and fallers since the referendum July 23, 2016 With all that's happened since 23 June, it's hard to believe it's only been a month since the UK came out in droves to vote in the EU referendum. While the FTSE 100 closed up 0.46 per cent yesterday in its fifth successive weekly advance, a number of companies on both the FTSE 100 and [...]
MPs slammed Mike Ashley today – but have finally accepted his invitation to visit the Shirebrook warehouse July 22, 2016 MPs investigating the working conditions at Sports Direct's Shirebrook warehouse have finally accepted Mike Ashley's invitation to see the site for themselves. Ashley has been desperate for the Business, Innovation and Skills (Bis) committee to visit the warehouse, presumably because he hopes they won't think it's that bad. If you're wondering how bad it was, read this testimony [...]
Damning report slams Mike Ashley for “appalling” practices at Sports Direct July 22, 2016 Top MPs have launched a blistering attack on Mike Ashley’s Sports Direct, branding working practices at the company’s Shirebrook warehouse in Derbyshire as similar to those of “a Victorian workhouse”. The parliamentary Business, Innovation and Skills Select Committee, which has been investigating the retailer’s “extremely disturbing” employment practices, publishes its findings today, leaving the company open [...]
Four of the most jaw-dropping working practices at Sports Direct July 22, 2016 The dire working practices at Sports Direct have come under the spotlight again today as the Business, Innovation and Skills committee released the report outlining its findings on the company – and it wasn't pretty. Founder Mike Ashley has started a review looking at the conditions at Sports Direct's Shirebrook warehouse and in its stores, which [...]
Here’s the most shocking testimony from the workers at Sports Direct July 22, 2016 Sports Direct's founder Mike Ashley has come under intense pressure from MPs to fix the dire working conditions at his Shirebrook warehouse and in his stores. In a report released today, the Business, Innovation and Skills select committee outlined just how bad it is to work at Sports Direct as an agency employee. Read more: MPs [...]
Debenhams target share price cut by Investec due to post-Brexit foreign exchange concerns and an expected slowdown in UK demand July 20, 2016 Brexit is beginning to bite for retailers. Investec this morning said Debenhams face a "foreign exchange headwind" that will hit the department store in 2018. Read more: Debenhams raids Amazon for new chief executive Retail analyst Kate Calvert cut Debenhams' target share price to 52p. The cut comes after analysts expressed concerns about Sports Direct at the beginning of the [...]