Frasers wants Mike Ashley as Boohoo CEOBoohoo board unresponsiveCompany owns 27% Boohoo stakeEmbattled online fast-fashion retailer Boohoo (BOO:AIM) jumped 3% on news its largest shareholder Frasers (FRAS) has requisitioned a general shareholder meeting to appoint Mike Ashley as CEO.Ashley has published an open letter after being stone-walled by Boohoo's board in his attempts to meaningfully...

Fresh bid spurned by ChalliceChallice has 'no interest' in sellingMulberry board considering its positionStruggling luxury handbag maker Mulberry (MUL:AIM) is weighing up a sweetened £111 million bid from Frasers (FRAS), although its majority owner is standing in the way of a takeover by refusing to sell its shares to the Mike Ashley-controlled conglomerate.Mulberry's biggest shareholder with...

Posh handbag maker Mulberry (MUL:AIM) has rejected (1 October) a potential £83 million takeover proposal from Frasers (FRAS), Mike Ashley's sprawling retail conglomerate.Like Lord Wolfson's Next (NXT), Frasers is expanding its stable of brands through acquisitions of, and investments in, distressed retail assets and on 30 September, proposed a 130p cash offer for Mulberry. However, the...

The defensive lean to London's FTSE 100 index served it well on Tuesday, as tensions mounted in the Middle East amid reports that Iran is planning an imminent missile attack on Israel.The FTSE 100 index ended up 39.70 points, 0.5%, at 8,276.65. The FTSE 250 closed 112.46 lower, 0.5%, at 20,940.73, and the AIM All-Share shed 3.63 points, 0.5%, at 736.80.The Cboe UK 100 ended 0.5% higher at...

Stocks in London were higher at midday Tuesday, as the UK manufacturing sector continued to outperform its peers in France and Germany.The FTSE 100 index was up 26.97 points, or 0.3%, at 8,264.19. The FTSE 250 was up 18.02 points, or 0.1%, at 21,071.21, and the AIM All-Share was down 0.48 points, or 0.1%, at 739.95.The Cboe UK 100 was up 0.4% at 827.69, the Cboe UK 250 was up 0.2% at...

- Sports Direct-owner to repurchase further £80 million shares- Frasers has slipped outside of UK's top 100 listed firms- Retail conglomerate remains misunderstoodShares in Frasers (FRAS) firmed 3.2% to 794p after the Mike Ashley-controlled retail conglomerate announced a new £80 million buyback ahead of possible relegation from the FTSE 100 in next month's quarterly reshuffle of the...

- Dunkerton increases Superdry stake- N Brown largest shareholder ups stake- Bango director sells shares to meet divorce settlementWhile squashing market rumours of plans to take embattled clothing and footwear retailer Superdry (SDRY) private, founder and chief executive Julian Dunkerton was busily topping up his shareholding.Between 31 January and 3 February, Dunkerton purchased 353,756...

Among the most resilient operators in a retail sector battling with inflationary pressures and the squeeze on household budgets is Frasers (FRAS), the FTSE 100 conglomerate controlled by retail tycoon Mike Ashley, which he founded in 1982 as a sports shop in Maidenhead.There are many misperceptions about Frasers, which remains best-known as the company behind value-for-money trainers and...

- Posh handbag maker slips into loss- Warns higher investment spend to continue- UK sales slump 10% amid falling consumer confidenceShares in British fashion group Mulberry (MUL:AIM) were marked down 14% to 245p after the posh handbag maker lurched into loss for the half to 1 October 2022 as higher investment spending pulled the retailer into the red.Backed by Mike Ashley's Frasers (FRAS),...

Mike Ashley-controlled retail conglomerate Frasers (FRAS) has become troubled online fashion seller ASOS' (ASC) fourth biggest shareholder and increased its investment in German fashion brand Hugo Boss (BOSS:ETR).These bold investments have been made despite further evidence of a downturn in the sector's fortunes, with numerous retailers coughing up profit warnings and the latest Office for...

- Billionaire's empire-building continues- Frasers becomes ASOS' fourth biggest shareholder- Hugo Boss holding has increasedMike Ashley-controlled retail conglomerate Frasers (FRAS) has become the fourth biggest shareholder in struggling online fast fashion seller ASOS (ASC) and increased its investment in Hugo Boss (BOSS:ETR), moves which demonstrate retail kingpin Ashley is not done with the...

Cash-strapped clothing and homeware brand Joules (JOUL:AIM) looks set to be saved by Next (NXT), although we do not expect the FTSE 100 retailer to buy the company outright.Next is in talks to invest £15 million in Joules and become a strategic minority shareholder. While it has form in taking equity stakes in troubled retailers, its approach typically involves offering guidance and putting...

UK shares continued to climb on Wednesday with the FTSE 100 rising 0.5% back above the 7,300 level thanks to buying of oil majors and mining stocks.Meanwhile, investors were awaiting the release of minutes from the US Federal Reserve's latest Open Market Committee meeting, due after the market close, for clues as to the pace of interest rate hikes after recent strong inflation and jobs...

London's FTSE 100 finished Wednesday's trading session 0.3% to the good at 6,963.67 points, albeit off intra-day highs, as investors awaited the latest meeting of the US Federal Reserve as well as updates from Apple and Facebook.Across the pond in the US, the benchmark S&P 500 traded slightly higher at 4,190.46 points by 4.30pm UK time.The UK's blue chip benchmark was buoyed by positive...

London's FTSE 100 traded in positive territory at midday on Wednesday, the blue chip benchmark bid up 0.6% to 6,982.9 points as positive corporate news on both sides of the Atlantic and optimism over the economic recovery in the UK following encouraging results from Lloyds (LLOY) buoyed investor sentiment.Overnight both Google-owner Alphabet and Microsoft reported quarterly earnings ahead of...

Shares in Mulberry (MUL:AIM) were marked up 15% to 292p on news the posh handbag maker now expects to beat market forecasts for its 2021 financial year by reporting a small underlying pre-tax profit.At the first half results last November, the Mike Ashley-backed British luxury brand had guided towards reduced losses for the year ended 27 March 2021 on lower sales.DIGITAL PROGRESS, FEWER...

Covid-19 vaccines are being injected into the arms of a grateful global populace, paving the way for a full reopening of the global economy, a rebound in intercontinental travel and an explosive release of pent-up demand.The world could be entering a new 'Roaring Twenties' decade as fortunate individuals still with jobs are liberated from their homes and start to splash the cash saved during...

Shares in Mike Ashley's Frasers (FRAS) continued their strong run on Thursday, sprinting 11.4% higher to 489p as the Sports Direct-to-House of Fraser owner posted a rise in first half profit and raised full year earnings guidance.Fraser's confident outlook reflects the successful reopening of its stores in England (2 Dec) after the national lockdown combined with a 'continuing strong online...

UK stocks held onto early gains on Monday to close up 0.7% to 5,944 points.UK and European shares followed US markets higher on comments from the White House that US president Donald Trump continued to improve overnight and is ready to leave hospital and return to work.At the Conservative party conference Chancellor Rishi Sunak said he envisaged hard choices ahead as he warned about the need...

Despite worries over President Trump's health and added jobs cuts in the UK, investors focused on the increasing prospects of another stimulus package getting voted through in the US. At midday UK stocks were ahead by 0.9% to trade at 5,954 points.CINEWORLD SHUTS UP SHOPShares in Cineworld (CINE) collapsed 40% to 23.8p after the cinema operator confirmed weekend press reports that it would...