FTSE 100 closes higher as hopes grow for US, China trade talks
FTSE 100 closed ahead as the new trading week began, but off the 7,600 level, adding over 32 points to 7,591
Company
Frasers Group PLC
LON:SPD
Frasers Group plc, formerly Sports Direct International plc, is a British retailing group. Established in 1982 by Mike Ashley, the company is the United Kingdom's largest sports-goods retailer and operates roughly 670 stores worldwide.
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Debenhams looking to cut up to 200 more jobs in latest phase of struggling chain’s restructuring plans
The FTSE 250-listed firm has seen its shares jump over the past week since Mike Ashley’s Sports Direct International PLC – which owns a 30% stake in Debenhams – acquired rival House of Fraser out of administration
House of Fraser website remains offline having cancelled all online orders due to warehouse dispute
The department stores group took down its website on Wednesday after its warehouse operator, XPO Logistics, “paused” processing orders because of a dispute over payment
Sports Direct boss vows to keep bulk of House of Fraser stores open; Debenhams speculation continues
The Sun newspaper said Mike Ashley has promised to keep 80% of the chain's stores open and has appointed property experts from CBRE to advise him in negotiations with landlords
Mike Ashley’s end-game uncertain after Sports Direct’s £90mln acquisition of House of Fraser
Newspaper reports at the weekend speculated that Ashley will undertake a massive overhaul of HoF and then use his stake to push for an equally radical restructuring of Debenhams
Harrods of the High Street: Ashley's ambition as Sports Direct grabs House of Fraser for £90mln
Sports Direct chief executive Mike Ashley commented: “We will do our best to keep as many stores open as possible ... My ambition is to transform House of Fraser into the Harrods of the High Street"
House of Fraser could appoint administrators as soon as Friday following days of talks over a rescue deal: media report
Sky News reported that bidders for the troubled retailer - including Sport Direct boss Mike Ashley and Edinburgh Woollen Mill Group owner Philip Day - were asked to submit "best and final offers" before lunchtime on Thursday
House of Fraser settles with landlords who had opposed its crucial restructuring plan
House of Fraser said in a statement that it had settled the litigation to remove any risk to the discussions with investors that the company was trying to conclude
Billionaire Philip Day in early stages of potential bid for House of Fraser to save it from collapse: Sky News
House of Fraser revealed on Wednesday that it is looking at other options to obtain investment after China’s C.banner cancelled a planned fundraising for its deal to become its majority shareholder
Sports Direct founder Mike Ashley has discussed new investment deal for House of Fraser: Media reports
Ashley, who already owns an 11% stake in the struggling department store, is said to have been asked to consider providing it with a £50mln. according to Sky News
Sports Direct's Mike Ashley denies having influence over strategic investment firms
“I do not believe that we have significant influence over these companies," said Mike Ashley
Sports Direct strategy needs rethink after Debenhams stake dents profits, analysts suggest
Sports Direct's slump in profits suggests it should “stick to its core skills rather than engaging in speculative investments in the retail sector," said AJ Bell's Russ Mould
Sports Direct shares plunge as profits plummet after taking hit from Debenhams stake
Sports Direct took a £85mln hit on its stake in troubled department store Debenhams
Investments and investor services
FTSE 100 closes marginally higher but European peers and US stocks lag
Footsie closed up around seven points, or 0.10% at 7,683 on Thursday
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Sports Direct to deliver improved annual results as investors hope for World Cup boost
The day ahead includes full year results from Sports Direct, a first quarter trading update from SSE and UK retail sales data
Bookmakers see stock rise as investors bet they made a few quid as England crash out of World Cup
On top of England’s semi-final heartbreak, the bookmakers will also have benefitted from some of the pre-tournament favourites – Germany, Brazil, Spain, Argentina, Belgium – all coming up short
Sports Direct sells out of US firm Finish Line Inc days after JD Sports completed its acquisition
In addition, Sports Direct also revealed that its strategic interest in Nasdaq-listed brand license firm Iconix Brand Group Inc was 5.66mln shares, reflecting an 8.6% interest
House of Fraser confirms plans to close 31 of its stores, including its London flagship on Oxford Street
The move is part of a plan for the firm to secure new funding, which would see its current majority shareholder, Chinese firm Sanpower, transfer its 89% holding to another China-based firm C.banner
Why Dixons Carphone, Just Eat and Sports Direct will be among the World Cup winners
The World Cup is just around the corner and it’s not just football fans getting excited, the tournament also tends to boost sales for a number of companies
WH Smith voted worst shop on the high street by Which? readers
The customers complained about the books and stationery retailer’s customer service and labelled it a “horrid shop”, Which? said on its website
Investments and investor services
Will BT Group be able to avoid cutting its dividend?
Thursday is set to be a busy one for corporate results with the likes of BT Group, Barratt Developments, Next and Supergroup among the day's highlights.
Sports Direct discloses stake in Finish Line after JD Sports agrees to buy US retailer
Mike Ashley’s Sports Direct said it now holds almost 8miln shares in Finish Line, representing a 19.3% stake
Investments and investor services
Unilever, Debenhams and Rentokil Initial in the spotlight as updates loom
Thursday looks a pretty busy day for investors with a number of important updates due.
Investments and investor services
FTSE 100 closes in red as traders still jittery about macro issues
The pound is up 0.36% against the Euro at the time of writing, while it is up 0.07% against the US dollar
Finish Line Inc's 4Q results fail to impress Wall Street
This week, JD Sports Fashion, a big player in the UK, agreed to buy Finish Line for US$558mln as part of a global expansion plan
JD Sports to buy US firm Finish Line for US$558mln as part of global expansion
JD Sports said the acquisition offers the company “the opportunity to expand its market leading elevated proposition into the most significant global market”
Sports Direct increases holdings in Debenhams to nearly 30%
Liam Rowley, head of strategic investments for the FTSE 250-listed retail group, said: "There are obvious synergies that can be achieved through the integration of our respective web operations"
GAME Digital to put retail outlets, gaming areas into Sports Direct stores
As part of the collaboration agreement, Sports Direct has acquired a 50% interest in the rights of GAME’s BELONG arenas intellectual property for £3.2mln, with half of the arena business’s future profit also to go to Sports Direct
Wishbone Gold shares rise as new Thai entity makes first gold shipment
A look at some of the top risers and fallers in London today
Investments and investor services
Prospex Oil and Gas boosted by new discovery, Petro Matad pinched by US$16mln placing
A look at some of the top risers and fallers in London today.
Investments and investor services
FTSE 100 closes on a high but latest UK stats weigh on retailers
Turns out it was a blue Christmas for the UK retail sector, with sales data showing a worse than expected December period.
JD Sports lifts profit forecast again after strong second-half trading
Like-for-like sales growth in the second half remained at 3% despite tough comparatives in the year-ago period
Investments and investor services
Scancell Holdings soars after "stunning endorsement" of its ImmunoBody platform
Cancer Research UK was immensely impressed with the company and its technology
Mike Ashley's Sports Direct slumps as first half profits and UK sales drop
The sports retailer left its full year earnings guidance unchanged
Investments and investor services
FTSE 100 finishes in the red as BoE keeps rates on hold
FTSE 100 closed down over 48 points at 7,448., while FTSE 250 shed over 55 to 20,006
Investments and investor services
Will Sports Direct International investors still be optimistic when interims come out on Thursday?
Sports Direct International, Ocado Group, PZ Cussons, and Bunzl are among the names in Thursday's agenda.
Sports Direct slips as US investment bank urges institutions to consider selling their stakes in the retailer
Jefferies has concerns over the effect of increased competition, margin pressures and the performance of new stores
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Federal Reserve Grinch to dominate among upcoming central bank rate decisions
The Week Ahead will be dominated by interest rate decisions from the US Federal Reserve, Bank of England and ECB, plus UK inflation and results from Ashtead Group, TUI, and Dixons Caphone among others
Amanda Staveley reportedly eyeing up US$400mln bid for Newcastle United
Current owner Mike Ashley put the club up for sale earlier this week and is thought to want more than US$500mln
Early bath: Goals Soccer Centres' CEO, Mark Jones to resign, will take up another role in private sector
The five-a-side football pitches operator said it has already commenced the search for a “strong successor” and it will update on this process when appropriate
Sports Direct chairman Keith Hellawell narrowly survives shareholder revolt
The 70-year-old was re-elected to the post at the sportswear retailer’s AGM after gaining the support of 53% of independent shareholders
Cyber security firm Shearwater soars as chairman increases holding
Sports Direct, Barratt Developments, Ryanair and EasyJet were among Wednesday's early market movers.
Sports Direct says it’s exceeding expectations as it looks to become ‘Selfridges of sport’
The sports and fashion retailer has repeated its “optimistic” earnings guidance for the year thanks in part to a strong early performance from its ‘new generation’ premium stores
Archive
Sports Direct chairman faces the boot at AGM on busy day of updates from housebuilders
Sports Direct’s AGM and earnings from housebuilders will take centre stage on Wednesday
Mike Ashley's Sports Direct trebles stake in Goals Soccer Centres
Mike Ashley's Sports Direct has been beefing up its portfolio
Sports Direct in trouble again after staff at Welsh store told they should only speak English
Sports Direct is sorry for any misunderstanding or upset caused by the notice at the Bangor store in north west Wales
Goals Soccer shares soar as Mike Ashley snaps up £3.5mln stake in the five-a-side football pitch chain
It’s all part of Ashley’s bid to make Sports Direct the ‘Selfridges of sport’
Investments and investor services
Patience still a virtue for Aurora Investment Trust
Aurora is now worth £70mln, from £15mln, when Phoenix was appointed in January 2016
Sports Direct to report 10% increase in 2018 earnings, Goldman Sachs predicts
Goldman Sachs has lifted its rating on Sports Direct to 'neutral' from 'sell' as it raised its 2018 forecasts
Sports Direct shares surge as Mike Ashley says retailer on track to become 'Selfridges of sport'
Sports Direct posted a decline in annual underlying earnings but is confident that it will return to growth in the next fiscal year
FTSE 100 ends almost 57 higher buoyed by retailers
London markets started the day on the front foot and haven't looked back ...
Archive
Dependably dull Unilever versus off-the-wall Sports Direct
Can the supertanker Unilever ride the crest of a wave? Can a Newcastle United owner change his stripes?
Investments and investor services
FTSE 100 closes higher as Chinese data bolsters miners
The blue-chip index has traded sideways since about 8.30 this morning
Archive
Rookie Investor: If you’re under 40, why haven’t you opened a Lifetime ISA?
Of course if you’ve already done so, this article probably doesn’t apply to you…
Archive
Are eSports behind Sports Direct's interest in GAME Digital?
Under the radar eSports are booming and set to have more than 300mln participants globally
Investments and investor services
Sun sets on PV Crystalox Solar's UK operations
Companies featured: Grand Group Investment, PV Crystalox Solar, Thor Mining, Falcon Media House, Game Digital, Proxama, Sports Direct International, Arian Silver Corp, Nu-Oil & Gas, Dart Group
Game Digital boosted as Sports Direct takes 25% stake
Mike Ashley, who owns 54% of Sports Direct, has barely been out of the headlines in the past week
Investments and investor services
FTSE 100 closes down a shade with BT Group plc top dog
Footsie was becalmed throughout the day, leaving the mid-cap FTSE 250 to claim the limelight
He might not be Santa or Obi Wan Kenobi, but Sports Direct boss Mike Ashley has confirmed he is a “power drinker”
Ashley is being sued by a former advisor over claims that he on a £15mln deal made during a night out in 2013
Sports Direct boss Mike Ashley reveals he isn’t Obi Wan Kenobi as he dismisses £15mln legal claim as “nonsense”
Ashley is being sued by a former advisor over claims that he on a £15mln deal made during a night out in 2013
Sports Direct's Mike Ashley dismisses banker's claim of £15mln deal as 'drink banter'
Mike Ashley has accused a former colleague of trying to squeeze money out of him in a lawsuit off the back of 'banter' held over drinks at a London pub
Mike Ashley's Sports Direct swoops in to buy bankrupt US retail chain Eastern Outfitters
Mike Ashley's Sports Direct has taken on bankrupt US retailer Eastern Outfitters, the parent company of Bob’s Stores and Eastern Mountain Sports, and its 50 retail stores
Department stores group Debenhams considering 10 store closures and plans to enhance its digital offering
The plans were announced as the FTSE 250-listed firm reported pre-tax profit of £87.8mln for the 26 weeks to March 4, down 6.4% from the £93.8mln reported a year earlier
Archive
Nice little earners ... but Sports Direct should come with a wealth warning
John Harrington takes a look at some ostensibly undervalued companies with consistent records of earnings growth
Archive
Torrent of tweets on toxic Tesco
To say opinions are divided on Tesco would be to imply that someone actually likes them ...
JD Sports defies Mike Ashley as it knocks Sports Direct out of the park
JD Sports Fashion is now valued worth more than double that of rival Sports Direct as it implements its expansion strategy
Archive
Sports Direct and other "nice" little earners
John Harrington goes off in search of undervalued companies with a record of earnings growth and is surprised by what he finds
Sports Direct again ups its interest in department stores group Debenhams, now over 13%
Sports Direct's holding is of 2.88% held via contracts for differences (CFDs), in addition to a put option it holds over a 10.5% stake, giving an overall holding of 13.38%
Sports Direct blasts report about chief executive-to-average employee pay as 'fake news'
A spokesman for the retailer said that the Sports Direct figure in the table of data published by newspaper City AM, and attributed to Pensions & Investment Research Consultants (PIRC), was “incorrect”.
FTSE 100 ends higher before Fed rate decision
FTSE 100 shares ended higher on Wednesday, thanks to buoyancy in the pharma and mining sectors while a US rate card was considered in the bag, priced and sold on the market
Big task for Sports Direct's Mike Ashley in tidying scandal-hit past
From the mis-treatment of staff to a series of profit warnings,Sports Direct's Mike Ashley has plenty of work to do in order to redeem himself
Sports Direct to elect workers' representative to board as it tries to rebuild battered reputation
Sports Direct boss Mike Ashley is trying to rebuild the retailer's reputation after MPs accused the company of mis-treating employees
Sports Direct warns on gross margin currency impacts, clarifies Agent Provocateur deal involvement
The company said its euro-dollar exchange rate was currently hedged at US$1.46 and that it had no hedging in place for 2018.
Archive
Agent Provocateur founder gives 3i and Mike Ashley a dressing down
What's trending: Mike Ashley's unlikely interest in sexy underwear; WPP says companies are grinding it out with a three yards and a cloud of dust running game; LSE boss to cancel retirement plans?
Archive
Fund managers ready to act over excessive executive pay
Fat cats or executive pigs with their snouts in the trough? Either way, fund managers are losing patience with excessive executive pay.
Sports Direct builds stake in French Connection
Benny Hill and Noel Coward once appeared in a film together, so why shouldn't Sports Direct and French Connection work together?
Kolar Gold a winner from name game
Some of the largest risers and fallers in London at 4pm
Archive
Nationwide says UK house price growth was slowest annual rate in more than a year last month
The building society said UK house prices were up 4.3% year-on-year in January, a slowing from 4.5% growth in December and the smallest increase since November 2015.
Sports Direct boss has "welcomed" supportive comments from the company's largest City investor
Mike Ashley was speaking following comments made by hedge fund boss Crispin Odey of Odey Asset Management at the weekend.
Embattled chairman of Sports Direct re-elected thanks to Mike Ashley's backing
Keith Hellawell’s re-appointment was opposed by 54% of the firm's independent shareholders, with that figure unchanged from the number achieved in September.
FTSE 250 chokes on the FTSE 100's dust in 2016
The FTSE 250 rose in 2016, but you would've been better off backing the FTSE 100 - or Leicester City.
Will Dunlop be first of many brand sales at Sports Direct?
Peel Hunt says Sports Direct shares are "becoming very interesting" as it focusses on core brands.
Goodbye green flash, hello Mr Selfridge – Sports Direct to sell Dunlop
The business, which turned over almost £43mln last year, was acquired 12 years ago for £40mln.
Talk about fickle brokers …. Liberum swiftly backtracks on target hike for Sports Direct
Liberum Capital returned the target price for Sports Direct to 310p, having upgraded it to 375p first thing this morning after an announcement suspending the group’s share buyback.
Archive
Trending - Nostra Terra, corporate jet, Sports Direct and bookies
The firm says it's turning itself around and chief executive Matt Lofgran has been using social media to get the message across
Plane crazy - Hard-pressed Sports Direct staff can hire new corporate jet
Sports Direct said the airplane is being acquired at a total cost of US$51.1mln (£40.4mln), and will be used to transport employees and business partners to the group’s sites across the UK
Sports Direct posts 57% slump in profits after "tough" six months
After a period in which Ashley and the group has been blasted by the press and Parliament for the treatment of its workers and been battered by the fall in the value of the pound after the Brexit vote, the sports goods stores firm saw its u
Investments and investor services
FTSE 100 shares close higher after ECB returns to lower QE
FTSE 100 shares closed higher on Thursday, buoyed by news that the euro zone will curb its quantitative easing programme next April
Archive
WEEK AHEAD: The panto season is upon us, and lead villain Mike Ashley is due on stage
He's already told us he's not Santa, but can Mike Ashley deliver a Christmas present for Sports Direct investors?
Sports Direct loses two bosses in three weeks
News of finance chief Matt Pearson jumping ship was one of the most tweeted stories .
Sports Direct loses another executive as finance head jumps ship
Pearson was given the job of acting CFO just over a year ago.
FTSE 100 misses out on record high close over Brexit, US rate fears
FTSE 100 shares narrowly missed out on a record closing high on Tuesday after slipping back from record levels thanks to renewed Brexit fears which sent the pound below $1.23, as well as growing expectations of a US rate hike this year. Ear
More woe for Ashley as 'flash crash' costs Sports Direct £15mln
A fat finger trade has been blamed for the ‘flash crash’ that saw 6% wiped off the value of the pound
Risers & Fallers: Sports Direct, URU Metals, Nu-Oil and Gas...
Major share price risers and fallers in London at 4pm
Risers and fallers: Lamprell, Sports Direct, Summit Therapeutics...
Lamprell shares soared after it secured a US$90mln contract to transform a shipping vessel into floating accommodation for Statoil's workers
Investments and investor services
FTSE 100 closes lower as pound flirts with lowest post-Brexit levels
The FTSE 100 index closed lower in a widespread sell-off while the pound flirted with its lowest level against the euro since the Brexit vote
Risers & Fallers: Seeing Machines, Scotgold, GCM Resources ...
Significant share price risers and fallers in London at 4.15pm
Sports Direct bows to pressure on review plan
Controversial retailer vows to get independent third party to review its practices after criticism
Archive
Brokers: Randgold Resources upgraded as UBS sees dividend potential
Also, Sports Direct, Enquest, Pearson, Hurricane Energy
Sports Direct a 'buy' says broker after torrid week
“Amongst all the panto at the Open Day, we sensed a genuine will to change strategy,” said broker Peel Hunt