Mike Ashley loses patience with Debenhams, pushing chair and chief executive from board January 10, 2019 Mike Ashley, the chief executive of Sports Direct, has dramatically shaken up the top leadership of Debenhams, blocking the reappointment of the company’s chair and chief executive to its board during its annual general meeting this afternoon. Sir Ian Cheshire, chair of the retailer’s board since 2016, informed the company he would step down with immediate [...]
SFO publishes terms of deferred prosecution agreement with Tesco after reporting restrictions lifted January 23, 2019 The Serious Fraud Office (SFO) has published the full terms of the Deferred Prosecution Agreement (DPA) it agreed with Tesco following the 2014 accounting scandal. Reporting restrictions around the DPA – a voluntary agreement which allows companies to forego prosecution by fulfilling certain requirements – were lifted when former Tesco director Carl Rogberg was acquitted today. [...]
Chance to buy one of the world’s largest retailers cheaply June 20, 2019 By Rodney Hobson from interactive investor. After a temporary technical hitch, this highly resilient company should soon shake off the blip. Rodney Hobson is an experienced financial writer and commentator who has held senior editorial positions on publications and websites in the UK and Asia, including Business News Editor on The Times and Editor of Shares magazine. He [...]
Investors given second chance to buy a piece of Star Wars May 30, 2019 By Rodney Hobson from interactive investor. This iconic brand has rewarded shareholders handsomely, and could do again, argues our overseas expert. Investors could be forgiven for thinking they had missed their chance to buy into The Walt Disney (NYSE:DIS) when the shares shot up 10% one April day, and then went on to set new [...]
Apple slides as Christmas sales forecast falters November 1, 2018 Californian tech giant Apple said its sales over the festive period could slip below consensus expectations, despite achieving its fifth consecutive quarter of double-digit revenue growth and its best September quarter to date. The company’s outlook on revenue for the rest of the year, which gives an indication on how well its latest products are [...]
Old friends become foes as Arsenal legends Thierry Henry and Patrick Vieira face each other as managers for the first time January 15, 2019 They stood side by side for club and country over a decade ago, winning just about every trophy there was to be won, but on Wednesday evening, Thierry Henry and Patrick Vieira will put their playing pasts behind them as they go head to head as managers for the first time. The Arsenal and France [...]
Jim Ratcliffe’s Ineos sides with May’s Brexit deal, urging MPs to vote for ‘the good of the country’ November 28, 2018 Chemicals giant Ineos has backed the government’s proposed Brexit withdrawal agreement, urging MPs to “put the good of the country ahead of political considerations” and vote it through. The company’s chairman, Britain’s richest man Jim Ratcliffe, this morning threw his weight behind the deal, saying it was sensible and gave space for final negotiations to take place [...]
Magners maker C&C to produce more drinks in the UK after Brexit October 25, 2018 The maker of Bulmers and Magners cider is in late-stage talks to start producing European drinks at its UK plant after Brexit. Chief executive Stephen Glancey told Reuters that Brexit has presented opportunities for the Irish business. “You've got other manufacturers coming to us and saying ‘can you manufacture for us in the UK’? … [...]
Consumer spending falls in October as shoppers continue to abandon the high street November 13, 2018 UK consumer spending dipped in October after having risen for two months, with an e-commerce rebound propping up a two per cent fall in face-to-face sales. Expenditure has fallen in six of 10 months so far this year, adding to a cocktail of concerns for bricks-and-mortar retailers, according to Visa UK Consumer Spending Index data [...]
Black Friday promotions drive unexpected retail boost in November December 20, 2018 Retail sales enjoyed stronger-than-expected growth in November as shoppers cashed in on Black Friday promotions. Sales over the month increased by 1.4 per cent compared to the same period last year, far higher than the 0.3 per cent forecast in a Reuters poll of economists. But over the three months to November sales rose by [...]