By Jon Robinson The chief executive of shoe retailer Clarks has resigned after two years in the role, City A.M can reveal. Jon Ram has been on the job at the historic Somerset-headquartered company since April 2022, having previously been group president of global activewear, at Hanesbrands in the US. He has also served in several senior roles at New Balance and the NBA. In a statement, Clarks said Ram had decided to leave the company to “pursue other opportunities”. The business added that an interim executive committee would be formed to lead the firm until a new chief executive is appointed...
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By Jess Jones The high-profile auction for the Telegraph Media Group is set to re-open as Abu Dhabi-backed investment fund Redbird IMI is reportedly poised to withdraw its £600m bid for the as early as next week. Redbird IMI is working to finalise a structure for the sale with government ministers, who are hoping to cling on to some oversight of the newspaper, according to insiders close to the Financial Times. A solution could potentially involve separate sales of the Telegraph and The Spectator magazine. In March, the UK government thwarted an attempt by Redbird IMI to buy the papers, which ...
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By Ben Cleminson NO BRITISH-trained horse has ever won the Group One Chairman’s Sprint Prize (Sunday, 7.50am), but that isn’t stopping trainer George Boughey and owners Highclere having a crack at the £2.2 million pot with four-year-old filly Believing. The daughter of Mehmas finished a close third in the Haydock Sprint Cup last September following a Group Three success at Chantilly earlier in the season. Boughey has had great success since saddling his first runner in 2019, culminating in Cachet landing the 1000 Guineas in 2022, also for Highclere. France has been a happy hunting ground for t...
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By Milly McEvoy Emily Campbell says money does not motivate her, but she is ready to cash in at Paris 2024. Campbell, the first British woman to win a weightlifting Olympic medal when she claimed silver in Tokyo, was speaking after World Athletics announced they would be giving gold medallists at this summer’s Olympics $50,000 each. It is the first international sport federation to hand out prize money at a summer or winter Games, but the 29-year-old believes it will have little impact on athletes. Paris bonuses?“I think any form of money in this life is a bonus but the reason why you get into...
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By Jess Jones Amid mounting financial uncertainty at Thames Water, a consortium of bondholders has issued a formal request for a meeting with the company’s management. The group, which claims ownership of more than £5bn in Thames Water bonds, outlined their demands in a letter from advisers legal firm Akin Gump and investment bank Jefferies, obtained by the Financial Times. Citing alarming “press reports” alluding to possible “material impairment” of their holdings, the bondholders have insisted on direct contact with Thames Water’s top brass. Following therecent default by Kemble Water Financ...
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By Maria Ward-Brennan Mining giant Anglo American has rejected BHP Group’s £31.1bn proposal after it concluded the plan would undervalue its future prospects. The talk of a potential mega-deal between BHP and London-listed miner Anglo American had the mining world’s attention this week, and it seems to have attracted the attention of activist investor Elliott Investment Management. Bloomberg has reported that the hedge fund, known for its activist campaigns, has acquired a $1bn (£800m) stake in the miner. The news followed Anglo American’s announcement on Friday that it had rejected BHP’s prop...
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By Bill Esdaile Racing Club Founded by Jordan Wylie MBE & former Jockey Club marketing lead Richard Jaques, Racing Club is a community-focused horse racing syndicate aimed at providing affordable and accessible racehorse ownership through RC Syndicates. It brings together individuals interested in horse racing, offering them entertainment, fun days out, and the chance to own a share in racehorses. The syndicate focuses on producing lasting memories and enjoyable experiences both on and off the racecourse. Cheltenham Festival winning trainer Jamie Snowdon trains the Jumps horses. Hambleton Raci...
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By Wally Pyrah THE RACING world will have their eyes firmly fixed on Hong Kong this Sunday when Sha Tin hosts one of its marquee meetings of the season; FWD Champions Day, featuring three Group One races worth £7.2 million in prize money. There is no doubting the city will come to a standstill at 9.00am when the champion of champions, Golden Sixty, steps out on to the turf in an attempt to win an unprecedented fourth FWD Champions Mile. The pride of Hong Kong, a winner of 26 of 30 starts, including 10 Group One victories, and the most prolific winner in Hong Kong history, returns to action fol...
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By Wally Pyrah TRAINERS’ championship leader Pierre Ng must have breathed a sigh of relief at Happy Valley in midweek when a winning double broke a long losing sequence of 40 runners for the stable this month. Winners breed confidence and Ng will surely be more than hopeful that front-running DROMBEG BANNER can strike an overdue win in the FWD Insurance CCB (Asia) Handicap (10.20am) over seven furlongs. This tough and genuine galloper has already won three times over the course and distance and has been given a chance by the handicapper to make it four. A close inspection of his form against f...
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By Maria Ward-Brennan A legal challenge against HSBC for £240m by investors of a film tax scheme has failed, as the High Court judge ruled their significant losses was not enough for a good claim against HSBC. British bank HSBC was sued for £240m by more than 500 investors over a Disney film tax scheme, as the investors claimed the bank caused them losses by marketing film financing schemes by Eclipse Partnerships. The tax scheme was devised by HSBC’s Private Wealth Solutions team and marketed by Future Capital Partners (now in liquidation) to investors between 2005 and 2008. Neil Bowman, a ch...
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