China cracked, Bolland bowed out and Dry January got drier: Here’s what got us talking this week January 8, 2016 The Jetsons' family car got a bit closer to reality, and a base-jumper around Canary Wharf gave us all vertigo while Donald Trump got punchy over the impending Commons debate on whether he should be banned. Here's what got us talking this week How low can yuan go? (Source: Getty) 1) China cracked Stock markets were suspended twice [...]
FTSE 100 index remains under 6,000 mark as fears over the Chinese economy linger January 8, 2016 After the FTSE 100 index faltered in late morning trading, it has rebounded back towards the gains it made at the open – but still remains below the 6,000 mark. The rebound comes as concerns over weakness in the Chinese economy continue to weigh on European markets. The UK's blue-chip index rose 0.44 per cent to 5,979 points in early afternoon [...]
Sports Direct’s share price slumps 15 per cent on profit warning January 8, 2016 Sports Direct has issued a profit warning, claiming warm weather deterred shoppers over the key Christmas period, prompting its share price to tumble. The Mike Ashley-owned retailer, which has been fending off criticism around its various working practices, issued a statement this morning saying it had "seen a deterioration of trading conditions on the high street and [...]
With Marks and Spencer’s CEO Marc Bolland bowing out, odds shorten on the City’s retail boss departures January 7, 2016 So M&S boss Marc Bolland has finally stepped down, after years of pressure – but who thought his departure would be revealed just seven days into the New Year? At the very start of this week The Capitalist brought you odds on The 2016 Sack Race, including the 4/5 that was available on Marks’ Dutch [...]
Sainsbury’s should focus on its core offer January 6, 2016 Sainsbury's and Home Retail Group do not at first glance appear obvious bedfellows. If perceptions count for anything, and they do in retail, then Sainsbury’s is very much a supermarket that attempts to cater for the British middle class. Home Retail Group’s Argos doesn’t. But for both the high street and supermarkets, these are desperate [...]
Sports Direct clarifies property boss Michael Murray’s role after reports surface of close family ties and no experience January 4, 2016 Sports Direct has been forced to issue a clarification around the role of Michael Murray at the company, after reports surfaced that he was a relatively inexperienced boyfriend of one of Mike Ashley's daughters. The 26-year-old has been hired to head up Sports Direct's property empire – no small task given that the retailer has 470 [...]
The end of the West: 2016 is the year a new order begins to arise January 4, 2016 “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” Churchill, after the British victory at El Alamein This year will make it apparent to all but the most gormless that the comfortable, easy centuries of western dominance (under the Dutch, [...]
Who’s facing the axe in 2016? Bookmaker offers odds on CEO sackings January 3, 2016 Let's face it; everyone dreads the first day back at work. To keep stress levels especially high at the top, bookies Ladbrokes have been drawing up odds on which CEOs will be clearing their desks by the end of the year. Only two chiefs can afford to relax, according to the firm; Easyjet’s Carolyn McCall and Taylor [...]
Sports Direct to pay staff above minimum wage from 2016 December 31, 2015 Sports Direct has said it will pay its staff above the minimum wage from 1 January 2016, as the retailer looks to shrug off criticisms of its working conditions. The minimum threshold will apply for both directly employed casual staff and its UK employees. It estimates that this and associated costs will cost the business [...]
At the close: FTSE 100 index makes strong gains on the back of commodities December 23, 2015 The FTSE 100 index closed sharply higher on Wednesday, with the bounce-back led by mining companies with oil companies not far behind. The UK's top blue-chip index closed 2.6 per cent up at 6,240 points, as the dead cat bounce in resources continued. "Stock markets have been encouraged by a stabilisation in commodity prices which has picked up [...]