Budget 2016 odds: EU referendum and taxes will be George Osborne’s hot buzzwords, but what about Donald Trump? March 16, 2016 George Osborne wouldn't pass up an opportunity to talk Brexit in his Budget. Referendum is a favourite for getting a mention in the chancellor's speech on Wednesday with a 90 per cent chance of popping up and he's predicted to slip in the word tax in 95 times – that's once every 36 seconds – in the predicted 57 [...]
MPs run out of patience with Sports Direct boss Mike Ashley, ordering him to attend a hearing on 7 June March 15, 2016 MPs have given up waiting for billionaire Sports Direct boss Mike Ashley to set a date for a scheduled appearance to discuss the controversial sportswear retailer's treatment of its employees. They've commanded him to appear at a hearing on 7 June. The Business, Innovation and Skills (BIS) select committee of MPs want to quiz Ashley over recent media [...]
Sports Direct boss Dave Forsey heads to court today March 14, 2016 Sports Direct boss Dave Forsey is heading to Chesterfield magistrates court today, over the company's handling of the USC administration. Forsey is charged with offences under the Trade Union and Labour Relations Act, which requires employers to give notice of redundancies in advance of them happening. Staff working at USC were allegedly given just 15 [...]
The UK is the sport industry capital of the world – its businesses must lead the way with corporate responsibility March 11, 2016 In case you hadn’t noticed, the UK is sport mad. We watch, discuss, engage and play sport with great passion. So it’s not surprising that we are pretty damn good at the business of sport as well. Led by the Barclays Premier League we have an industry worth an estimated £24bn per year. But more [...]
Government warns Sports Direct boss he risks contempt of parliament by not agreeing a date to give evidence over treatment of workers March 9, 2016 Billionaire founder of Sports Direct, Mike Ashley faces being found in contempt of parliament after he failed to set a date to appear in front of MPs to answer questions on the retailer’s treatment of workers. He has been given a deadline of 21 March to reply to the letter told he must set a date before 1 June. A [...]
The number of people on zero-hours contracts leaped in the final quarter of 2015 – but it’s not why you think March 9, 2016 Oh dear. The government may be doing everything in its power to rid the UK of those pesky zero-hours contracts, but it seems its efforts aren't working: the number of employees on the contracts jumped by 15 per cent in the final quarter of last year, new figures have shown. But before you grab your pitchfork, take [...]
Consumer goods groups challenge financials to become biggest sector in FTSE 100 as Barclays, HSBC, RBS and Standard Chartered share prices plummet year-to-date March 3, 2016 Consumer goods groups are challenging the dominance of financial firms in the FTSE 100 for the first time in a decade. The two sectors are neck-and-neck, with consumer goods actually overtaking financials briefly during February, rising to account for 20.85 per cent of the FTSE 100, compared with 20.61 per cent, before slipping back down again. [...]
FTSE reshuffle: Who’s in and who’s out of the blue-chip index – Morrisons, Sports Direct, Aberdeen Asset Management, Paddy Power Betfair, Informa, Mediclinic International March 2, 2016 Supermarket Morrison's has stormed back into the FTSE 100, having only been given the boot in the index's last quarterly review. News of a tie up with Amazon gave the big four grocer the boost it needed, sending its share price to 205.4p, up around 10 per cent on the week. Morrison's will be joined in the blue-chip [...]
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 [...]