Barclays’ share price fall and profit losses and Sports Direct’s looming FTSE demotion remind us of the lasting impact of corporate failings March 2, 2016 Barclays has hit the headlines again with news of a dramatic fall in share prices and profit losses. Like many of the world’s big banks, the organisation has been hampered by sins of the past, which have eroded employee and consumer trust. Its response has been one of drastic internal restructuring, and assertions of a new approach [...]
FTSE 100 demotions and promotions: Paddy Power Betfair and Morrisons eligible to be on the up while Aberdeen Asset Management and Sports Direct eligible for demotion March 1, 2016 Morrisons could be returning to the FTSE 100 after just quarter of languishing in the FTSE 250 – but it may edge out Mike Ashley's Sports Direct in doing so. Morrisons, which yesterday unveiled a major new tie up with Amazon, has seen its share price soar in recent weeks. Shares are up 34 per [...]
Mercedes-AMG C63 review: Can this muscle car disguise itself as a sophisticated saloon? February 29, 2016 Price: £60,060 0-62mph: 4.1secs Top speed: 155mph MPG Combined: 34.5mpg ★★★☆☆ | Design ★★★★★ | Performance ★★★☆☆ | Practicality ★★★☆☆ | Value Elvis Costello famously said, “Writing about music is like dancing about architecture” – and he had a point. I could tell you the Mercedes-AMG C63’s soundtrack is like a Wagnerian opera, or a [...]
Mike Ashley’s Sports Direct faces relegation from FTSE 100 index February 28, 2016 Sports Direct faces relegation from the FTSE 100 list when the blue chip index of top UK companies comes up for renewal next week, after a dismal performance this year. Shares in Mike Ashley’s troubled sportswear empire have plunged by 50 per cent since August last year amid growing criticism over its working practices and [...]
FTSE 100 demotions and promotions: Sports Direct and Aberdeen Asset Management could be demoted in quarterly review February 26, 2016 Sports Direct could slip out of Britain's blue chip index at its quarterly review which is due to take place on Wednesday. Despite a boost to its brand from popular musicians such as UK grime artist Skepta, the company was the biggest casualty of disappointing trading which afflicted a number of its peers over the crucial [...]
Sports Direct ditches controversial Mike Ashley loan facility over “unjustified criticism” February 26, 2016 It seems Mike Ashley's feelings have been hurt. Sports Direct has said it will no longer draw on a loan facility provided to it by Ashley, its founder. In an unusual statement this morning, the company said although it expects its borrowing requirements to be "consistently in excess" of the £263m it has drawn on [...]
Aston Martin to create up to 1,000 jobs with new factory in St Athan, Glamorgan and Gaydon, Warwickshire February 24, 2016 James Bond's favourite car brand Aston Martin is creating up to 1,000 jobs in the UK as part of plans to create a new factory in St Athan, Glamorgan and ramp up its existing hub at Gaydon, Warwickshire. The new factory will span across 90 acres, repurposing some of the facilities currently in use at the site by the Ministry of Defence, specifically [...]
Company voluntary arrangements and pre-packs harm landlords, suppliers and staff: Something has to change February 17, 2016 With Brantano being put into administration by Alteri and then bought back shortly after (minus key outstanding debts) by – you guessed it – Alteri, it is clear that legislation is required to avoid further misuse of a financial instrument that was originally intended to help retailers through a difficult time – not a mechanism for [...]
Sports Direct boss Mike Ashley agrees to meet MPs for first time as he attempts to “set the record straight” over working conditions at Shirebrook February 17, 2016 Sports Direct boss Mike Ashley has agreed to meet MPs for the first time, in an attempt to head off ongoing criticism of his company's working practices. Ashley has invited politicians to the retailer's Shirebrook HQ in Derbyshire to "set the record straight", the Mirror reports. Shirebrook has been the focus of much ire in recent months, [...]
Rangers shareholder Kieran Prior urges chairman Dave King to fight Mike Ashley over Sports Direct retail deal February 6, 2016 Rangers shareholder Kieran Prior, a former Goldman Sachs trader with a reported IQ of 234, has urged club chairman Dave King to continue his legal battle with Mike Ashley's Sports Direct. Prior believes King should seek to terminate the Rangers Retail joint venture with Sports Direct in court as soon as possible, should the FTSE [...]