Mike Ashley in talks to sell Newcastle United for £340m January 26, 2020 Retail tycoon Mike Ashley is in talks to sell Newcastle United football club to a consortium including Saudi Arabia’s sovereign wealth fund for £340m. The billionaire owner of Sports Direct – recently renamed Frasers Group – bought Newcastle United in 2007 but is now in talks with a group led by British financier Amanda Staveley [...]
House of Fraser suffers 60 per cent sales drop in run-up to Christmas January 21, 2019 House of Fraser has reportedly suffered a dive in sales over the crucial Christmas trading season, in a fresh sign of the woes facing the beleaguered department store chain. Year-on-year sales plunged 60 per cent in the 12 weeks to 18 December, according to Kantar Worldpanel figures reported in The Sunday Telegraph. It is the [...]
Trading surge boosts JP Morgan but Citigroup’s profit suffers October 13, 2020 JP Morgan’s third-quarter results beat analysts’ expectations as trading revenue was lifted by a recovery in global markets despite the ongoing coronavirus pandemic. Its Wall Street rival Citigroup fared less well, however, with profit slipping 34 per cent despite credit costs stabilising. JP Morgan’s net income rose to $9.44bn (£7.25bn) from $9.1bn a year earlier. [...]
Mike Ashley snaps up freehold to House of Fraser’s historic Glasgow store for £95m October 12, 2018 House of Fraser today paid £95m for the freehold to its iconic Glasgow building, promising to turn it into the “Harrods of the north”. Owner Sports Direct bought the Frasers building from Glasgow City Council, promising to turn it into a destination for luxury shopping, with brands like Hermes, Christian Louboutin, Prada and Gucci already [...]
Mike Ashley mulls £100m staff bonus scheme December 16, 2019 Sports Direct owner Mike Ashley revealed that his business, which today rebranded as Frasers Group, is mulling a £100m share bonus scheme for employees. The proposals are at an early stage, but the scheme would only be open to full-time employees and would not include staff members on zero-hour contracts, Ashley said today. Read more: [...]
Bridging the gap: The ICAS Foundation aims to ensure a career in accountancy is open to all August 2, 2021 The ICAS Foundation exists to ensure a person’s background is no barrier to a career in accountancy. We hear how it is working to minimise the pandemic’s impact on a new generation of students. This article first appeared in ICAS’ CA magazine. Accountancy is a career path that should be open to all. Yet, despite improvements [...]
Mike Ashley’s Sports Direct resolves chunk of €674m Belgian tax bill January 30, 2020 Mike Ashley’s Sports Direct has resolved a large chunk of a €674m (£570.2m) tax dispute with the Belgian authorities. The retailer – which recently rebranded as Frasers Group – said €491m of the disputed VAT had been accounted for and authorities in Belgium had withdrawn the claim. Ashley’s company said it would “continue to fully engage [...]
How sports teams are using technology to recreate group training sessions with players in isolation March 29, 2020 They may be miles apart and isolated in their homes, but footballers, rugby players and cricketers across the country are finding new ways to continue training together. Sportspeople left in limbo while their seasons are delayed indefinitely by the coronavirus pandemic are still staying in shape, as they have readily documented on social media. The [...]
Sports Direct takes profit hit from ‘challenging’ House of Fraser acquisition December 13, 2018 Sports Direct has posted a 27 per cent drop in half-year profits today, as costs from the acquisition of beleaguered department store chain House of Fraser weighed on the group’s balance books. Shares in Sports Direct slumped 12.7 per cent this afternoon, with the retailer rushing out an urgent clarification this afternoon after Mike Ashley said [...]
Jeff Bezos takes stake in UK tech startup Beacon May 31, 2020 Amazon founder Jeff Bezos is reportedly investing in UK technology startup Beacon. The world’s richest man has agreed to back the startup, which is a specialist in digital freight forwarding and supply chain finance, according to Sky News. Bezos, who is worth approximately $143bn, is said to be participating in a $15m Series A funding [...]