Mike Ashley rumoured to be close to LA Fitness deal May 14, 2014 Sports Direct founder Mike Ashley has moved to take on around 30 LA fitness sites, Sky News' City editor, Mark Kleinman, reports. The exuberant billionaire has agreed to offer a parent company guarantee to LA Fitness landlords regarding leases on the gyms, according to sources. One did say, however, that, despite a deal being imminent, things [...]
What the other papers say this morning – 08 May 2014 May 7, 2014 FINANCIAL TIMES Former chancellors slam Help to Buy Three former chancellors of the exchequer have urged George Osborne to rethink his Help to Buy programme, with the OECD also calling on the government to scale back the mortgage support scheme. Lord Lawson, Lord Lamont and Alistair Darling – all predecessors of Osborne at the Treasury [...]
BT extends free TV sport offering until 2015 for its 5m subscribers April 30, 2014 BT’S BROADBAND customers will get free BT Sport channels for another year after the company said it has no plans to charge over the next sporting season. The telecoms giant yesterday announced that its sports coverage, for which it has invested around £2bn on securing sporting rights, will continue to be free for new and [...]
Spotlight on Financial Fair Play in Football: Uefa forced to defend FFP’s independence April 24, 2014 EUROPEAN football’s governing body Uefa was forced into a PR offensive yesterday after their president Michel Platini appeared to state that no clubs would be banned for breaking new financial fair play (FFP) rules. The suggestion raised significant questions about Uefa’s willingness to get tough on serious offenders, and what influence, if any, Platini might [...]
Sports Direct criticises investors for rejecting Mike Ashley bonus April 23, 2014 SPORTS Direct yesterday hit out at shareholders for failing to back a bonus share scheme that would have awarded its founder Mike Ashley a £70m windfall, as it posted a rise in fourth quarter sales. The sportswear giant’s board was forced to cancel the plan earlier this month after failing to win enough investor support. [...]
What you need to know before the open April 23, 2014 US markets saw another positive finish yesterday, with European counterparts expected higher today, looking to French and German manufacturing data. Economists will be looking to see if the turnaround seen in France in March continued, and Germany’s expected to see a slight improvement, too. China’s HSBC manufacturing purchasing managers’ index improved to 48.3 – encouraging, [...]
Sports Direct sales jump as board squares up to shareholders April 23, 2014 Sports Direct has reported a jump in sales of 10.3 per cent to £360m for the nine weeks ended 30 March. The sports retailer saw gross profit rise 11.5 per cent £147m. The company enjoyed strong increases from the brands division and sports retail sales. Premium Lifestyle sales also rose by 0.7 per cent to [...]
London Report: Osborne likely to have missed financial target April 21, 2014 UK PUBLIC borrowing figures this week are expected to show that the chancellor George Osborne narrowly missed his target for this year. And while future revisions may bring the figures back within Osborne’s target, the figures are likely to bring further scepticism about whether the UK can continue to meets its fiscal targets. “We expect [...]
London Report: China data and bullish retailers drive FTSE rally April 16, 2014 THE UK’S benchmark stock index rose yesterday after Chinese economic data came in a touch above forecasts, with Tesco rising on aggressive strategy plans and Sports Direct surging on a bullish note about the company. The sportswear retailer surged 5.6 per cent to the lead FTSE 100 gainers. Traders cited a note from Bank of [...]
Bottom Line: Retail can’t promise to learn from mistakes April 15, 2014 YESTERDAY was a glorious, sunny day in London – clear blue skies with a hint of the crisp spring weather that typifies a British April. Lunching City workers donned light coats and sunglasses, keen to soak up the rays. But forecasters are already warning that Easter weekend could be a washout – retailers who’ve stocked [...]