Collins makes a good start at KPMG but the hard part’s to come December 15, 2013 This probably hasn’t been the easiest year to be the top dog at one of the country’s big four accountancy groups. The industry is still wracked with self doubt as to whether it should or could have spotted the problems that led to the financial crash earlier, and, to make matters worse, the Big Four [...]
Ashley scores in the weird world of business tiffs December 15, 2013 MIKE Ashley is not happy with Adidas, after the German sports company refused from next season to let Ashley’s retail giant Sports Direct sell its replica Chelsea kits – incidentally one of Sports Direct’s bestsellers. Ashley is understandably miffed, and it has even been suggested the billionaire plans to build a hostile stake in Adidas [...]
Sports Direct on the sidelines as Adidas kicks off December 12, 2013 SHARES in Sports Direct fell more than 12 per cent yesterday despite a rise in pre-tax profits, after disappointed investors were denied the upgrade to target that they were expecting. Sports Direct, which was promoted to the FTSE 100 in September, reported a 23.5 per cent rise in revenues to £1.35bn in the six months to [...]
Bottom Line: Half-time break for high flyer December 12, 2013 BEFORE yesterday’s slump, shares in Sports Direct had risen by more than 90 per cent so far this year. Six years after its flotation at 300p, even early investors in Mike Ashley’s empire have more than doubled their money – while those that were brave enough to buy in when it fell to 32p in [...]
London Report: FTSE faces worst week on week run since 2008 December 12, 2013 BRITAIN’S FTSE 100 fell again yesterday, heading for its longest run of weekly drops since 2008, led by a sell-off in engineering and retail sectors and rattled by concerns about an imminent scaling back of US monetary stimulus. Sports Direct led falling stocks, down 12.6 per cent in its biggest one-day drop for over two [...]
Sports Direct is on a winning streak. Here are 3 things it’s doing well December 12, 2013 High street retailer Sport Direct has delivered better-than-expected results this morning, with strong online and international expansion, particularly in Europe, driving growth. Active in 19 countries, and with 400 stores in the UK, the Slazenger and Dunlop owner has seen rapid growth over recent years, in part due to the demise of competitor JJB Sports. [...]
London Report: Chancellor and Chote set to face MPs’ questions December 8, 2013 CHANCELLOR George Osborne will be back in the spotlight on Thursday as he is quizzed by the Treasury Select Committee about the contents of his Autumn Statement. But Osborne is the not the only one to face a grilling from the committee this week, as Office for Budget Responsibility (OBR) head Robert Chote is likely [...]
London Report: Steepest fall for the FTSE since mid-November December 3, 2013 MINERS and oil companies led Britain’s FTSE 100 lower yesterday as strong economic data prompted investors to bet that equity-friendly monetary stimulus would soon be reduced. The FTSE 100 closed down 62.90 points, or one per cent, at 6,532.43 points, its sharpest one-day fall since mid-November. The blue-chip index has fallen roughly two per cent [...]
Inside Track: The Royal Mail outcome has not disappointed at all November 21, 2013 AS JOHN Major’s supposedly favourite think tank, the Bow Group, yesterday urged an independent investigation into the sale of Royal Mail Group, it seems that a growing number of people believe the bankers on the deal performed a bad job and should all be sent to the Tower of London or some such place to [...]
Who says green has to mean dull? November 11, 2013 The powerful and attractive new Porsche Panamera is a vast improvement on first generation hybrids PORSCHE has been selling its hybrid Panamera since 2011 but this is its first plug-in car. Its predecessor, like other first generation hybrids, had an absurdly limited electric-only range of just two miles, which meant its hybrid components only served [...]