Takeovers kick off with Rangers bid – Editor’s Letter January 5, 2015 Football is a funny old game, and a funny old business too. Yesterday, just as one Glasgow Rangers director made the club a £500,000 emergency loan to keep it in business, the famous old institution became one of the first companies of this New Year to become subject to a City takeover bid. The [...]
Debenhams share price plummets despite online sales uplift January 13, 2015 The figures Shares in troubled department store Debenhams fell nearly eight per cent in mid-morning trading, despite figures published this morning suggesting it had a record Christmas. The retailer said like-for-like sales in the four weeks to 10 January rose 4.9 per cent. Particularly successful were online sales, which went up by 29 per cent. Demand [...]
Revamped Institute of Directors finds its voice in time for general election February 15, 2015 With its grand architecture, and seemingly arcane rules, the Institute of Directors (IoD) has often felt more like a gentleman’s club than a political body. However, under director general Simon Walker, the renowned business institution is getting a bit of a shake-up. Previously characterised as a rather safe organisation, the IoD has been far more [...]
Oldham stall on Evans as outcry over deal grows January 5, 2015 OLDHAM chiefs last night refused to rule out the signing of former Wales striker and convicted rapist Ched Evans despite a deluge of outcry at the proposed move. The League One club said it would “conduct due diligence with regard to any decision we make on this matter”, while their manager Lee Johnson called it [...]
Sports Direct owner Ashley puts money on Debenhams success November 6, 2014 THE FOUNDER of Sports Direct, Mike Ashley, has sold his 4.6 per cent stake in Debenhams and entered into a put option worth 6.1 per cent. The deal was conducted through Sports Direct, and required the business to dispose of the Debenhams stake that it built upon last month, adding a further £33m worth of [...]
Tesco’s share price nears pre-overstatement level for the first time in four months January 14, 2015 Tesco's share price is nearing the level it was before the supermarket admitting to overstating its profits in September, thanks to a sustained rally in the last month. Shares in the UK's largest retailer have risen more than 30 per cent since mid-December and at pixel time this morning the business was up 2.1 [...]
Canaccord departs Quindell: When a listed company’s broker quits, it usually means bad news November 17, 2014 Brokers to stock-market listed companies tend to stick around for the long-term, so when they exit abruptly there is usually a good reason for it. Canaccord’s departure from Quindell appears to have taken the market by surprise, but its decision to go follows a controversy over share-dealing by the directors. In May 2008, less than [...]
City Moves for 30 July 2015 | Who’s switching jobs July 29, 2015 Principal Global Investors The asset management firm has announced several appointments to its fixed income team in Europe. Mark Cernicky and Randy Woodbury (pictured) transfer to its London office. Cernicky has 15 years’ investment experience and is a managing director. Woodbury is a senior portfolio manager and trader. In addition, Nicolas Woodcock joins as senior [...]
Sports Direct converts its Debenhams stake to put option – and increases its exposure to 12.7 per cent November 6, 2014 Mike Ashley has done it again. He's converted his standard investment (or “investment” as we call it) in Debenhams into a put option, increasing his exposure to the department store along the way. The move, which is actually taking place through Ashley's retail giant Sports Direct, involves disposing of the 4.6 per cent stake taken [...]
Sports Direct’s share price tumbles after Tesco investment September 26, 2014 Shares in Sports Direct were down again this morning, following founder Mike Ashley's decision to take out a put option on Tesco yesterday. The retailer's share price has reached a low of 610p, having opened at 636.5p. It continued a tumble that started yesterday, when shares reached a high of 670p. Is it [...]