Mike Ashley’s Sports Direct on track for FTSE 100 promotion September 8, 2013 THE FTSE 100 is set to become a more colourful place this week with Sports Direct – controlled by Newcastle United owner Mike Ashley – on track for promotion to Britain’s leading share index. Many pension funds that track the FTSE 100 will then be obliged to buy shares in the company, which has both [...]
London Report: UK retailers set to reveal if tills ringing again September 8, 2013 RETAILERS are set to reveal this week how big an impact the UK recovery is making as consumers return the shops. Reports from Dunelm, Home Retail, Morrisons, Next, Ocado and Sports Direct will show how confident buyers are in the improving economy. Ocado, which will update the market on Thursday, was rated a “buy” by [...]
Gunners can show their strength against bitter rivals August 29, 2013 Ben Cleminson PREVIEWS THE FIRST SUPER SUNDAY OF THE SEASON Arsenal vs Tottenham Sunday 4.00pm THINGS couldn’t have started much worse for Arsenal than a 3-1 home defeat to Aston Villa on the opening day of the season, but the Gunners have since bounced back with three wins, scoring eight goals and conceding just once. [...]
How betting markets could solve the problem of inaccurate Bank forecasts August 28, 2013 IN HIS first major speech since becoming governor of the Bank of England, Mark Carney is today likely to defend a policy that has come to be described as the “Carney rule”. Also known as forward guidance, the rule effectively promises that interest rates will stay at present levels until unemployment drops below 7 per [...]
How betting markets could solve the problem of inaccurate Bank forecasts August 27, 2013 IN HIS first major speech since becoming governor of the Bank of England, Mark Carney is today likely to defend a policy that has come to be described as the “Carney rule”. Also known as forward guidance, the rule effectively promises that interest rates will stay at present levels until unemployment drops below 7 per [...]
Ocado and Sports Direct: better to arrive late than not at all August 26, 2013 Whenever bankers are asked to explain why London’s market for new issues – the IPO market – nearly collapsed altogether last year, they cite a number of factors that always include the poor performance of a number of high-profile flotations. The lists are long and varied but almost everybody’s bete noirs include Sports Direct, Mike [...]
Premier League return will benefit more than just well-paid players August 15, 2013 THE PREMIER League returns tomorrow. Although most of us will be interested in the quality of the football on offer, the amounts of money involved are no less significant. It’s Europe’s highest revenue-generating league by a margin of over €1bn (£850m), with combined club revenue of over £2.3bn in 2011-12. But while players continue to [...]
Fast, sexy, cool: the Seat Leon SC August 12, 2013 Seat may not be the hippest car brand in the world, but the Leon SC provides a welcome injection of street cred BACK in 1990, When VW Group bought Spanish automaker Seat, it wanted to position it in its stable the same way Alfa Romeo sits within the Fiat Group. It has, however, struggled to [...]
Sports Direct picks up Goldman to be its third corporate broker August 6, 2013 SPORTS Direct has named Goldman Sachs as its third corporate broker, months after chairman Mike Ashley used the bank to help sell £100m of his shareholding. The retailer said Goldman Sachs’ first task will be to work with its employee trust to sell 17m shares through a secondary placing. Espirito Santo was also named on [...]
Boston Globe sold to owner of Red Sox baseball team for $70m August 4, 2013 THE New York Times has agreed to sell The Boston Globe to the principal owner of the Boston Red Sox baseball team, John W Henry, for $70m (£45.8m) in cash, ending its 20-year ownership of the paper. The transaction includes the Worcester Telegram & Gazette, related digital properties of both papers, and a direct mail [...]