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 [...]
Steve Hilton interview: Cameron’s former advisor on supporting Brexit, decentralising government and why Boris shouldn’t take over as PM June 6, 2016 Steve Hilton was so unconventional during his time as Tory party spin doctor that when they came to parody him in The Thick of It, they had to tone him down. “He wears something I would never wear,” complained actor Vincent Franklin, “these ridiculous half-shorts, half-trousers.” Amid the charcoal suits of the Tory cabinet, Hilton [...]
Mike Ashley has finally agreed to appear in front of MPs to answer questions about Sports Direct June 5, 2016 The boss of Sports Direct, Mike Ashley, said today he will now appear in front of MPs on the business, innovation and skills (BIS) select committee to defend his company. The Sports Direct boss has been summoned due to allegations about working practices at the company's Shirebrook warehouse in Derbyshire. Ashley has been refusing to meet MPs since [...]
The beautiful Caribbean island of Anguilla is the shimmering blue epitome of tropical fun times June 3, 2016 Far out in the well charted waters of the east Caribbean lies the Leeward Island chain, and at its northern tip is an utterly charming little strip of limestone called Anguilla. Its interior is arid, scrubby and overrun with semi-domesticated goats and chickens, but it is frilled with some of the most incredible beaches in [...]