Michael Jordan’s ‘rarest’ trainers set to auction for more than $500,000 August 13, 2020 A rare pair of Michael Jordan’s trainers are set to fetch more than $500,000 (£420,000) at an online auction on Thursday. The basketball legend used the Nike Air Jordan 1 High sneakers in an exhibition game in 1985 and famously shattered the glass backboard with a dunk. British auction house Christies is auctioning 11 pairs [...]
Mike Ashley’s Frasers Group buys DW Sports out of administration for £37m August 24, 2020 Mike Ashley’s Frasers Group, formally known as Sports Direct, has bought the assets of DW Sports for £37m after the gym chain collapsed into administration earlier this month. Frasers said this morning that it had acquired “certain of the assets relating to DW’s gym and fitness business, including certain stock”. The deal excludes the DW [...]
FTSE 100 and US stocks climb as investor fears ease October 16, 2020 The FTSE 100 rebounded as investors returned to risk assets, having dumped them yesterday amid worries over new coronavirus restrictions, while US stocks rose on vaccine hopes and upbeat retail sales data. London’s main stock index climbed 1.7 per cent in afternoon trading to stand at 5,929 points. That followed a 1.7 per cent tumble [...]
Just Group shares jump as profit survives pandemic August 13, 2020 Just Group’s shares leapt today after it posted slightly higher profit for the first six months of 2020 today despite the pandemic. The figures Underlying operating profit rose £3m to £117m year on year for the first half of 2020. Profit from active life insurance policies shot up 25 per cent year on year to [...]
AA given takeover talks extension as rivals mull joint bid September 1, 2020 Motoring association the AA has been given an extra four weeks to continue negotiations with potential buyers, it was announced today. The new deadline for its suitors to make an offer for the firm is now 29 September, but there are growing fears that a hotly anticipated bidding war for the company’s stock may be [...]
Does an emissions scandal await the real estate sector? May 6, 2021 In September 2015, news broke that Volkswagen (VW) had been selling cars in the US that had a so-called “defeat device” installed in diesel engines. It could detect when they were being tested and change performance to improve results. The German carmaker admitted to cheating emissions tests and it soon became clear that this was [...]
Berkeley Group profits fall by a third after coronavirus lockdown June 17, 2020 Berkeley Group, the housebuilder, has pushed back a £455m payout to shareholders by two years because of the coronavirus pandemic. The FTSE 100 company saw sales fall dramatically over April and May, pushing its full-year profit and revenue down more than one-third each. However, shares in the company rose 3.6 per cent this morning as [...]
BP to sell London headquarters as work patterns shift August 30, 2020 BP is reportedly planning to sell its headquarters in central London, becoming the latest employer to signal a permanent shift in its working patterns. The oil giant employs 6,500 staff across its offices in the capital and in Sunbury-on-Thames in Surrey. It plans to rent back the building from the new owner for up to [...]
Purplebricks fined £260,000 for breach of money-laundering rules August 18, 2020 Online estate agency Purplebricks has been fined more than £260,000 by HM Revenue & Customs for violating money-laundering rules. Under UK regulations implemented in 2017, estate agencies are required to ensure customers are not using their business to launder money. The legislation says estate agencies are responsible for carrying out financial checks on their clients [...]
Savers predict double-digit investment returns: is that a danger sign? August 20, 2021 Savers today are more optimistic than at any point in the past five years, expecting their future investment returns to average more than 11 per cent per year. They are more likely to invest further, and to check up on their investments more frequently – but most striking of all they expect higher future returns. [...]