Sports Direct boss Ashley refuse to face parliamentary questions
21st Mar 2016 13:22
(ShareCast News) - Sports Direct boss Mike Ashley has confirmed that he will refuse to attend questioning from a parliamentary business committee, despite being threatened with a charge of contempt of parliament. The all-party business, innovation and skills (BIS) committee has formally summoned
Read moreSports Direct surges ahead of demotion from FTSE 100
18th Mar 2016 12:33
(ShareCast News) - Shares in Sports Direct International surged on Friday, with traders attributing the push higher to short-covering ahead of the stock's demotion to the FTSE 250 next week. The retailer has been under the cosh since late last year, when it was hit by a damning report in the Guardia
Read moreWednesday newspaper round-up: Budget, Sorrell, Barclays, Fed, Sports Direct
16th Mar 2016 07:22
(ShareCast News) - George Osborne will today admit he has broken two out of the three fiscal rules he set down after last year's election, as he sets out a Budget constrained by slowing growth and weakening public finances. Mr Osborne will use whatever cash he can find to promote the life chances of
Read moreSports Direct takes profits from JD stake
14th Mar 2016 09:51
(ShareCast News) - Sports Direct has taken some profits from its investment in rival JD Sports, selling 1.08m shares it was revealed on Monday. The FTSE 100 sports goods retailer, whose canny chief Mike Ashley has a history of short- and long-term investments in rivals, took its contract for differ
Read moreSports Direct's Ashley accuses MPs of being 'antagonistic' over committee appearance
11th Mar 2016 11:11
(ShareCast News) - Under-fire Sports Direct boss Mike Ashley has rounded on MPs trying to force him to appear before a commons select committee, accusing them of being "deliberately antagonistic". The long-running spat between Ashley and the all-party Business Committee became very public this week
Read moreSports Direct's Ashley faces jail if parliament face-off continues
9th Mar 2016 12:07
(ShareCast News) - Sports Direct boss Mike Ashley has been threatened with being found in contempt of parliament for his failure to agree to attend questioning by the business, innovation and skills (BIS) committee. The committee has invited the Sports Direct founder to give evidence at a Westminste
Read moreThursday newspaper round-up: National Grid, Rolls-Royce, bookmakers
3rd Mar 2016 07:37
(ShareCast News) - The energy regulator Ofgem is to be handed sweeping new powers to manage the country's electricity supplies, switch off factories and request emergency back-up generation, under energy market reforms being considered by Whitehall. Documents seen by The Times show ministers are con
Read moreFTSE 100 movers: Housebuilders subside on weak construction report
2nd Mar 2016 14:45
(ShareCast News) - The FTSE 100 was back in the red on Wednesday afternoon, led by ITV and a fall from the larger housebuilding companies. ITV was one of the biggest losers of the day, even as the commercial broadcaster reported a surge in underlying pre-tax profits, which were up 18% to £843m. Whi
Read moreWednesday newspaper round-up: Brexit, China, Schengen, Sports Direct
2nd Mar 2016 07:15
(ShareCast News) - BlackRock, the world's largest asset manager, has warned that Britain's economy would be hit hard by a vote to leave the EU, with equities, sterling and the London property market all likely to suffer. In a gloomy report for clients, it also warns that David Cameron could lose con
Read moreMorrisons set for FTSE 100 return, Sports Direct in line for demotion
1st Mar 2016 15:19
(ShareCast News) - Morrisons, which announced a new grocery supply deal with Amazon.com on Monday, may work its way back into the FTSE 100 this month. The supermarket retailer, which was booted out at the last quarterly review, could be joined by newly-merged Paddy Power Betfair and private hospital
Read moreMonday newspaper round-up: retailers, Sports Direct, BT, Brexit
29th Feb 2016 07:03
(ShareCast News) - Britain's retailers predict that almost 1m jobs in the sector - a third of today's total - will disappear by 2025 as technology and the rising minimum wage reshape the industry. Retailers currently employ one in six British workers - about 3m people - and the sector accounts for a
Read moreSports Direct will no longer draw down from Mike Ashley loan facility
26th Feb 2016 12:37
(ShareCast News) - Sports Direct International said on Friday that it will no longer draw down from a £250m loan facility with founder Mike Ashley/Mash holdings following criticism over related party transactions. The company said it will only use its revolving credit facility from now on, which was
Read moreSports Direct drops as Jefferies urges Ashley to take company private
19th Feb 2016 13:23
(ShareCast News) - Sports Direct was under the cosh on Friday as Jefferies slashed its price target on the stock to 550p from 800p and called on founder Mike Ashley to take the company private. Jefferies said: "Recent events highlight a widening gulf between Mike Ashley's long-term vision and growin
Read moreWednesday newspaper round-up: Metro Bank, RBS, Mike Ashley
17th Feb 2016 07:16
(ShareCast News) - Metro Bank is slashing the size of its initial public offering by almost a fifth following the recent sell-off across the banking sector, investors in the UK challenger bank were told on Tuesday night. Metro said that it had cut the price of its offering from £24 per share to £20,
Read moreFindel vexes Sports Direct with sale of Kitbag to Fanatics
2nd Feb 2016 09:00
(ShareCast News) - Despite keen reported interest from major shareholder Sports Direct, home shopping specialist Findel has sold its Kitbag sports subsidiary to US merchandiser Fanatics Inc for £11.55m cash. Findel said it would use the cash proceeds to pay down debt and to help drive further growth
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