Duke of Edinburgh falls for Cowes Week magic as City seafarers set sail August 4, 2014 It's that time of year again, when the City’s yachting enthusiasts get to spend the week brushing sea spray out of their windswept locks instead of sweating it out in the Big Smoke. Yes, it’s Cowes Week. King of the City seafarers Martin Gilbert, chief executive of lead sponsor Aberdeen Asset Management held not [...]
Fans join legal fight to have European football’s financial fair play rules thrown out July 28, 2014 European football’s financial fair play (FFP) rules face a fresh legal challenge after English supporters joined forces with fans on the Continent to oppose the regulations. Manchester City and Paris Saint-Germain, the English and French champions, have suffered the toughest sanctions under FFP. Both were handed fines of €60m (£49m) and reluctantly accepted limits on [...]
Sky Europe: What will BSkyB’s new TV empire look like? July 25, 2014 Sky Europe, as BSkyB has now been dubbed after buying up its Italian and German counterparts for between £5bn and £7bn, will span six countries and reach 20 million customers. With the purchase, total revenue across the new company will exceed the £10bn mark, largely driven by UK operations, and “synergies” as they say (read [...]
UK car production up 3.5 per cent so far this year July 24, 2014 Car manufacturing in the UK rose by 3.5 per cent in the first half of the year to hit nearly 800,000 units produced, helped by the launch of a range of new models, with more anticipated in the months ahead. The figures from the industry body the Society of Motor Manufacturers and Traders (SMMT), showed [...]
London property market: So you think you know Chelsea? July 24, 2014 Everyone thinks they know Chelsea. Even if you don’t live there, you have an idea of it. The term Sloane Ranger was used in the 80s to describe a certain breed of socialite that lingered around the King’s Road, and reality TV show Made in Chelsea has brought the stereotype back into the public eye. [...]
Sports Direct and Adidas score a deal to sell kits July 17, 2014 SPORTS DIRECT said yesterday that it had held “encouraging talks” with Adidas, after the iconic German sportswear brand refused to provide it with key kit for the teams it sponsored at the World Cup. Adidas withdrew replica shirts for countries including winners Germany – and Premier League teams such as Chelsea – because it was [...]
Sports Direct share price down despite 15.6pc rise in profits, with no shareholder dividend July 17, 2014 Sports Direct has seen its share price drop two per cent following initial gains. The sportswear retailer reported its end-of-year results today, showing £239.5m in profit before tax, a 15.6 per cent rise on the 2013 figure. Revenue came in at £2.7bn, a rise of 23.8 per cent and underlying EBITDA was up 15 per [...]
Ashley kicks bonus into touch and shocks City July 16, 2014 SPORTS Direct founder Mike Ashley stunned the City yesterday after pulling out of a controversial £200m bonus scheme just weeks after winning investors’ support. The sporting goods giant said that after talks with the remuneration committee, Ashley told the board that he did not wish to be awarded any shares under the 2015 bonus scheme. [...]
The shareholder spring is back – but there may be worse to come for CEOs July 16, 2014 This is a rotten year to be a chief executive. The impact of new regulations introduced by the Department for Business has been to rekindle 2012’s “shareholder spring”, with a host of firms feeling the heat as up to 40 per cent of their shareholders opposed policies that could bind pay awards for three years. [...]
Mike Ashley waives Sports Direct bonus July 16, 2014 Sports Direct founder Mike Ashley will not take up his bonus despite the controversial scheme gaining approval from shareholders. The retailer announced Ashley will not take up the share-based bonus in 2015 ahead of its financial results, due out tomorrow, and would not approach shareholders about any bonus until 2019. The collective £200m bonus, approved [...]