Tottenham Hotspur Stadium: Why don’t Spurs have a naming rights deal? | City A.M. July 26, 2018 Back in October 2008, when Tottenham’s new stadium project was still in its infancy, chairman Daniel Levy addressed the opportunity to sell the naming rights to their proposed new ground. “It’s a necessary and critical component of financing a modern football stadium,” he said. Yet six weeks out from the £850m venue’s official opening, Spurs [...]
Mike Ashley’s patience runs out: Sports Direct appoints law firm despite previous investor sentiment January 14, 2017 Sports Direct has controversially appointed RPC to take control of its eagerly anticipated corporate governance review after two failed attempts at appointing alternative candidates. In an announcement to the stockmarket after it closed yesterday evening, Mike Ashley's firm said it had appointed the law firm, despite previous concerns from key investors over RPC's impartiality. Read more: [...]
The government is looking into whether companies are using share buybacks to inflate bosses’ pay January 28, 2018 The government could crack down on share buybacks, as it has hired researchers to determine whether they are being used by companies to artificially inflate their executives’ pay. Share buybacks, where a company purchases some of its own shares to reduce the number available in the market and often raise their price, can increase a [...]
Calls for better governance at Sports Direct heighten, after Mike Ashley defies the will of the company’s other shareholders January 5, 2017 Sports Direct has today sparked more ire over the state of its corporate governance, including calls for a rethink on how listed firms are overseen The comments come after a second vote in less than half a year on whether to keep Keith Hellawell as chairman was waved through at the company's general meeting, as chief [...]
Independent shareholders vote to boot Sports Direct chairman, but Mike Ashley saves his right-hand man January 5, 2017 The independent shareholders of Sports Direct have voted to boot the retailer's chairman Keith Hellawell, but the company's boss Mike Ashley has saved his right-hand man. Fifty-four per cent of independent shareholders voted to get rid of Hellawell, who has presided over several profit warnings at the company. Read more: Shareholder advice group calls for [...]
Sports Direct has had an annus horribilis, raising questions about Mike Ashley’s game plan December 6, 2016 SPORTS Direct has had an annus horribilis, from being slammed by MPs for working conditions in Derbyshire that resemble a Victorian workhouse to a share price plunge of 47 per cent in the year to date. Corporate governance has been an issue. Mike Ashley, a dominant founder and shareholder, is now CEO. The retailer has [...]
Last Week in the City: August rate rise now less likely July 20, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (16 to 20 July 2018). The chances of an interest rate rise at the Bank of England’s August meeting appeared to recede this week after inflation data was more subdued than expected and retail sales data [...]
Sports Direct has had an annus horribilis, raising questions about Mike Ashley’s game plan December 5, 2016 NULL
The Foschini Group buys fashion brand Hobbs as 3i exits November 7, 2017 Hobbs, the British high street fashion retailer known for being a favourite of the Duchess of Cambridge, has found a new owner in the form of South African retailer The Foschini Group (TFG). Hobbs chief executive Meg Lustman said this would help the brand to become "truly successful". "With TFG’s existing experience managing desirable brands, [...]
Sandwichgate: The chair of the Business Select Committee has written to Mike Ashley and he’s not happy November 9, 2016 The chair of the Business Select Committee that paid Sports Direct a memorable visit earlier in the week, has written to Mike Ashley. And boy, he's not happy. "For an organisation in the process of reviewing its corporate governance and working practices, it is difficult to understand how a representative of the company thought that [...]