London Stock Exchange: The big end-of-year corporate fight ended with barely a punch thrown December 19, 2017 We were promised the corporate equivalent of a heavyweight encounter in the Ali/Frasier mould: the activist challenger going into the ring to knock the crown off the head of one of the City’s biggest firms. Finally, after months of to-and-fro, briefings and rumours about the London Stock Exchange (LSE), it came down to this: a [...]
Carillion collapse poses big questions for investors, Jes Staley’s FCA delay goes on and The Range floats chairs January 26, 2018 When in doubt, blame the accountants: a mantra which has gathered momentum after virtually every big corporate collapse since the financial crisis. Carillion is no exception. It seems obvious to ask now why KPMG signed off the construction group’s accounts in March without the merest hint of anxiety. Hindsight being a wonderful thing, the wafer-thin [...]
Mike Ashley’s Sports Direct needs a solid gameplan to rise from the ashes September 14, 2016 Sports Direct is back in the news, this time for what should be more positive reasons than their other recent appearances. We have covered how consumer perception of the brand has fallen over the past year as investigations uncovered damaging practices within the organisation. This culminated in owner Mike Ashley’s appearance in front of a select [...]
Liberum analysts urge Sports Direct shareholders to “align their interests” with Mike Ashley’s September 5, 2016 Investors are competing to see who can shout the loudest over the questionable corporate governance of Sports Direct – but one set of analysts has urged investors to "align their interests with those of the founder" Mike Ashley. Liberum analysts said today that shareholders only need to look at Sports Direct's past to understand. Things aren't actually bad for [...]
Mike Ashley appointed Sports Direct CEO as Dave Forsey quits with immediate effect September 23, 2016 Mike Ashley has taken over as chief executive of Sports Direct after Dave Forsey quit his role at the top of the scandal-hit company yesterday. Shares in the company were up 4.5 per cent mid-morning. Ashley will take over the role with immediate effect, with Forsey set to sever all ties with the company after a short [...]
Mike Ashley just lost it at Unite in front of his investors at the Sports Direct September 7, 2016 Sports Direct's founder Mike Ashley could not contain his irritation with Unite today at his company's annual meeting, ranting at the union's representatives in front of his investors. Steve Turner, Unite's assistant general secretary, stood up at the AGM to criticise the changes Ashley has made to improve conditions for workers on zero-hours contracts, saying that the [...]
“I do travel to work by helicopter” – Mike Ashley tries to seem humble on TV and fails September 20, 2016 Sports Direct's founder Mike Ashley has said this morning that he travels to work by helicopter "because it's more efficient". Ashley went on BBC breakfast this morning following an announcement that the company will be conducting an independent review of working practices and corporate governance, and answered questions about the moment he pulled out a wad [...]
Findel has refused to make Mike Ashley chairman July 29, 2016 Mike Ashley has failed to bag the chairmanship of gift retailer Findel – but the company said this morning that "discussions are ongoing." The company wants to agree to a deal with Sports Direct to act as an outlet for the sports shop's brand, but hasn't made Ashley chairman. Read more: Mike Ashley is looking to make himself the chairman [...]
BIS committee chair urges Mike Ashley to leave employment agency Transline Group behind September 13, 2016 Iain Wright, the chair of the Business, Innovation and Skills (BIS) select committee is pushing Sports Direct's founder Mike Ashley to ditch Transline Group, the agency that supplies workers for his Shirebrook warehouse. The BIS committee said in a report on the working practices at Shirebrook that Transline Group had been misleading in evidence given during [...]
Sports Direct day: Mike Ashley is opening his company’s AGM to the public August 24, 2016 Sports Direct's founder Mike Ashley invited MPs to visit the company's Shirebrook warehouse while they were investigating working conditions at the site – and now he's inviting you too. Yes, that's right, Sports Direct is opening its annual general meeting (AGM) to the public so everyone can have a go at Ashley for paying his workers [...]