Marriott International’s takeover of Starwood Hotels & Resorts to close this week after Chinese ministry of commerce gives green light September 20, 2016 Marriott International’s takeover of rival Starwood Hotels & Resorts Worldwide is set to complete this week after China’s antitrust authority granted approval for the $13.6bn (£10.4bn) merger today. The Chinese ministry of commerce was the only regulator pending approval for the tie-up, after the hospitality giants secured premerger green lights from more than 40 other [...]
Sports Direct share price rises on news of independent corporate governance review September 20, 2016 Sports Direct's share price has risen on news the embattled retailer has bowed to calls from investors for an independent review of corporate governance and working practices. The retailer initially insisted on using its own law firm, RPC, to conduct the review – but has now said it is willing to make it completely independent. The retailer's [...]
SeaWorld Entertainment Inc’s share price sinks as group calls halt to dividend breeding programme September 20, 2016 SeaWorld investors weren't having a whale of a time today as the company's stock sunk 6.15 per cent in pre-market trading after it slashed its dividend by more than half. In a statement yesterday, SeaWorld Entertainment Inc said its dividend payout was plunging in depth to 10 cents per share, down from 21 cents per share previously. Instead [...]
JD Wetherspoon, Pret a Manger, Leon and Zizzi nab prizes in the annual Peta vegan food awards September 20, 2016 JD Wetherspoon may seem to some like an unlikely candidate for a vegan award, but a meat and dairy-free twist on one of its signature dishes has just nabbed it recognition from People for the Ethical Treatment of Animals (Peta). Those who want to both avoid animal-derived foods and join JD Wetherspoon's weekly curry club can [...]
English winemaker and crowdfunding veteran Chapel Down fizzes on US launch September 20, 2016 Leading English winemaker Chapel Down has uncorked a new partnership to send its sparkling wine to the US for the first time. The Kent-based producer has struck an agreement with luxury wine and spirit company ABCK Corp to distribute its wines to US bars, restaurants and retailers. Shipments totalling 10,000 bottles are planned between now [...]
“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 [...]
Supermarket sales continue to edge upwards in the months following the Brexit vote September 20, 2016 Supermarket sales continued to edge upwards this month, increasing by 0.3 per cent for the three months ending 11 September. The growth was against a backdrop of price deflation of 1.1 per cent. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, said: “While overall sales growth has been slow, consumers have been keen [...]
Sports Direct announces independent company will replace RPC to review working practices and corporate governance September 20, 2016 Sports Direct announced this morning that it would appoint a new independent party to conduct a review of its working practices and corporate governance – replacing RPC. Shares in the company were up 3.3 per cent mid-morning. [stockChart code="SPD" date="2016-09-20 11:15"] The embattled retailer said in a report released at the beginning of September [...]
Finsbury Food Group cooks up tasty 40 per cent profit growth with the help of artisan breads and Disney cakes September 19, 2016 Profits were up a tasty 40 per cent last year at cake and bread supplier Finsbury Food Group, as demand for premium breads and Disney celebration cakes pushed up growth. The figures Group revenue rose 25 per cent to £319.7m in the year ended 2 July, while adjusted operating profit grew 38 per cent to £17.1m. Finsbury [...]
Designer exports from the capital set to soar on the back of London Fashion Week September 19, 2016 London's high-end fashion brands are in high demand – and London Fashion Week is expected to boost exports even further. According to the Department of International Trade, the sales of UK designer clothes have grown by 20 per cent in the last decade and are now worth between £2.5bn and £2.9bn. As a whole, the UK [...]