Armstrong hit with record $10m bill after losing doping lawsuit February 16, 2015 DISGRACED cyclist Lance Armstrong has been ordered to pay an American record $10m (£6.5m) in damages after losing a lawsuit with sports insurance company SCA Promotions. The Texan firm paid Armstrong $7.5m (£4.9m) in bonuses for his multiple Tour de France wins but sued him for the return of that sum plus $4.5m (£2.9m) in [...]
Revamped Institute of Directors finds its voice in time for general election February 15, 2015 With its grand architecture, and seemingly arcane rules, the Institute of Directors (IoD) has often felt more like a gentleman’s club than a political body. However, under director general Simon Walker, the renowned business institution is getting a bit of a shake-up. Previously characterised as a rather safe organisation, the IoD has been far more [...]
Britain close to deflation as oil drags on prices – London Report February 15, 2015 CONSUMER price inflation is expected to have fallen to a record low, with figures out this week likely to show it reached 0.3 per cent in January. The rate was 0.5 per cent in December – at a low since comparable records began in 1989 – and it is forecast to have fallen further, as [...]
Apple and Pinterest partner to make app discovery easier February 12, 2015 The app store may have revolutionised the way we listen to music, read newspapers and order a cab, but there is one major problem with it which Apple hasn't addressed. Until now. Among the 1.4m apps, how do people find the app they’re looking for, and how do companies get their app into people’s hands? [...]
#awks: Twitter finance chief Anthony Noto’s Twitter account gets hacked February 11, 2015 No one on Twitter wants to look like they don’t know how to use Twitter, especially when you’re Twitter’s finance chief. Even worse is when it’s the second gaffe in as many months. Anthony Noto, newish CFO and former Goldman Sachs man, has had his Twitter account hacked. A string of spammy tweets were sent [...]
Mike Ashley’s Sports Direct faces legal challenge over claims sacked USC staff were given 15 minute warning February 9, 2015 Former USC staff who were made redundant when the fast fashion business was put into administration are taking legal action, claiming they received just 15 minutes' consultation over the job losses. The chain, which is owned by Mike Ashley's Sports Direct, was put into administration last month and bought out just a few days later [...]
Rangers board plays down Mike Ashley’s influence as it announces date to vote on Dave King takeover February 6, 2015 Rangers have called a general meeting for 4 March to vote on shareholder Dave King’s requisition to remove the board. The current Rangers board of four directors including chairman David Somers and chief executive Derek Llambias would be removed if shareholders agree to the resolution put forward by King’s requisition. Former director [...]
Mike Ashley’s Sports Direct faces million-pound claim over bonus scheme which excluded zero-hour contracted staff February 3, 2015 Mike Ashley’s Sports Direct faces legal claims over its bonus scheme from hundreds of staff working at its stores which could run into millions of pounds. Nearly 300 workers on zero-hours contracts were excluded from a bonus scheme which gave around 2,000 staff who were permanently employed a windfall share of £160m worth of shares [...]
Sports Direct boss Ashley under fire from Scottish MPs over USC February 2, 2015 MIKE ASHLEY could face a grilling by Scottish MPs over the administration of clothing retailer USC, with politicians pressing to launch a full parliamentary investigation into his activities. The Scottish Affairs Committee is launching an inquiry into the fast fashion chain, with MPs last week branding the redundancies of more than 200 people as “despicable” and [...]
Mike Ashley could face parliamentary investigation over USC February 2, 2015 Mike Ashley could face a grilling by Scottish MPs over the administration of USC, with politicians pressing to launch a full parliamentary investigation into his activities. The Scottish Affairs Committee is launching an inquiry into the fast fashion chain, with MPs last week branding the redundancies of more than 200 “despicable” and “appalling”. [...]