Deadline for Blacks bids draws closer as January 3, 2012 SPORTS DIRECT, the retailer controlled by the billionaire football tycoon Mike Ashley (pictured), is understood to be one of four interested buyers expected to place a bid for the ailing outdoor retailer Blacks Leisure within the next two days. Blacks, which put itself up for sale last month after failing to secure extra funding, is [...]
Ten of the top givers in the City December 21, 2011 AS we now know from the tremendous response to this newspaper’s first ever Christmas charity appeal, the City is full of givers. Despite the tougher times many of our readers have experienced, as a group this year they dug in to support a charity that helps people help themselves. This page is a tribute to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 20, 2011 FINANCIAL TIMES BP, TOTAL AND STATOIL SECURE ANGOLA RIGHTS A new exploration frontier off the coast of Angola that may be similar to oil fields found in Brazil is to be opened after the government of the African country awarded drilling rights to some of the world’s largest energy groups. Britain’s BP, Total of France [...]
Black’s Leisure looks for new bidders or faces winding-up December 18, 2011 BLACK’S LEISURE faces falling into administrators’ hands and being broken up if the struggling outdoor chain fails to find a buyer this week, putting 2,000 jobs at risk. Black’s competitors Go Outdoors and Mountain Warehouse have both emerged as likely bidders for the company after Sports Direct’s billionaire founder Mike Ashley ruled out a bid [...]
BEST OF THE BROKERS December 18, 2011 BP Evolution has maintained its “buy” recommendation on BP, after the oil giant settled its dispute with contractor Cameron over the Macondo accident – although its target price of 510p is at “the lower end” of a valuation range that scales to 771p/sh. Evolution also notes that BP is talking to Ophir Energy about farming [...]
Miners fuel FTSE gains December 16, 2011 The FTSE 100 continued where it left off in the last session with a moderate rally fuelled by positive data from the US. US weekly jobless claims fell to a three-year low suggesting that its economic recovery was still on track. But markets still remain braced for credit rating downgrades for Eurozone countries as agencies [...]
Sports Direct ditches Blacks bid December 16, 2011 Sports Direct has decided not to proceed with an offer for Blacks Leisure. Earlier this week Blacks Leisure, the struggling outdoor goods company, said it had received an expression of interest from Sports Direct International, amongst a number of others, “which may or may not lead to an offer being made.” Sports Direct said in [...]
Ashley in line for a Sports Direct bonus December 15, 2011 SPORT DIRECT’s majority owner Mike Ashley could be in line for a £12m shares windfall if the sporting goods retailer meets a series of targets over the next four years. Under new proposals Ashley, who currently receives no pay for his role as executive deputy chairman, stands to be granted 6m shares if the group [...]
Comparisons were always going to be tough, but the game will go on December 15, 2011 WHEN you’re a sports retailer reporting against a period that last year included the FIFA World Cup, the comparatives are never going to look good. So though shares fell five per cent after Ashley announced a slight fall in profits yesterday, underlying figures show little proof of a change in upward fortunes – especially when [...]
Sports Direct to hit profit forecast December 15, 2011 Sports Direct, Britain’s biggest sporting goods retailer, posted a two per cent rise in first-half profit and said it was on track to meet its target for the year. The firm, controlled by Newcastle United owner Mike Ashley, said it was confident of reaching its full year target for underlying earnings before interest, tax, depreciation [...]