2014 City A.M. awards: Legal & General CEO Nigel Wilson is the insurance boss with big ideas November 13, 2014 The Legal & General chief exec, City A.M.’s Business Personality of the Year. His hero is Aneurin Bevan, the firebrand post-war Labour minister and architect of the NHS. His career was inspired by a quotation from political theorist Sir Isaiah Berlin on the importance of searching after the common good. And when I meet [...]
Omnishambles as Fifa’s corruption report is branded “erroneous” by lawyer Michael Garcia – the man who conducted the investigation November 13, 2014 If you were spitting feathers this morning over the Fifa report which exonerated Qatar and Russia but put England in the spotlight, you weren't the only one. Lawyer Michael Garcia, who actually conducted the investigation, has issued a statement slamming the report summary published this morning. He claimed the report, written by Fifa ethics judge [...]
Mike Ashley’s Sports Direct gives up naming rights to Rangers Ibrox Stadium and loans club an extra £1m November 12, 2014 Mike Ashley has given up his rights to rename Rangers football club’s Ibrox stadium and loaned the struggling club an additional £1m. The Sports Direct owner, who also owns a stake in the Scottish club, bought the naming rights two years ago for just £1, but the deal was only revealed in September. The miniscule [...]
Mike Ashley’s Sports Direct to launch bargain fitness chain November 11, 2014 BILLIONAIRE Mike Ashley is making a trip to the gym after his sportswear empire unveiled plans yesterday to open 200 budget fitness chains across the UK. Sports Direct said it would open its first purpose-built gym next month in Aintree on Merseyside next to its new superstore in the area, followed by a second soon [...]
Vodafone and Sainsbury push FTSE 100 slightly up – London Report November 11, 2014 The FTSE 100 yesterday advanced to its highest level in more than a month, as a rise in mobile operator Vodafone and supermarket retailer Sainsbury offset a slump in energy stocks. The blue chip index closed up by 0.2 per cent, or 16.15 points, at 6,627.40 points – its best closing level since late September. [...]
RateSetter founders Peter Behrens and Rhydian Lewis talk banks, Australia and dwarves November 9, 2014 Ask the founders of a business if they’ve got a good setback story, and they’ll usually give you something fairly typecast. Not in the case of RateSetter. “Pete the painter,” answers Peter Behrens firmly, looking over to co-founder Rhydian Lewis. It seems completely off piste, but it actually shows that rumbling the status quo, [...]
Sports Direct owner Ashley puts money on Debenhams success November 6, 2014 THE FOUNDER of Sports Direct, Mike Ashley, has sold his 4.6 per cent stake in Debenhams and entered into a put option worth 6.1 per cent. The deal was conducted through Sports Direct, and required the business to dispose of the Debenhams stake that it built upon last month, adding a further £33m worth of [...]
Playing sport boosts your chances in the City by improving your teamworking skills November 6, 2014 Playing rugby can help to improve your teamwork skills and demonstrate discipline. A huge opportunity is on its way. News that ITV is bumping some of its major shows in favour of rugby World Cup matches next year is an indication of the chance to create a real legacy for the sport. The potential [...]
Sports Direct converts its Debenhams stake to put option – and increases its exposure to 12.7 per cent November 6, 2014 Mike Ashley has done it again. He's converted his standard investment (or “investment” as we call it) in Debenhams into a put option, increasing his exposure to the department store along the way. The move, which is actually taking place through Ashley's retail giant Sports Direct, involves disposing of the 4.6 per cent stake taken [...]
Ashley’s man Llambias appointed to rangers November 3, 2014 SPORTS Direct owner Mike Ashley tightened his grip on Glasgow Rangers yesterday after former Newcastle United managing director Derek Llambias was officially appointed as a non-executive director at the club. Ashley, who owns Newcastle, made a £2m loan to Rangers last week. Llambias was at Newcastle between 2008 and 2013.