News in brief: Monday, July 15

Sports Direct closes in on Game

Sports Direct is closing in on an acquisition of Game Digital after its £52m offer was accepted by investors holding almost 45% of the business.

In addition to Sports Direct’s existing 38.5% stake in Game, it means Mike Ashley’s business now either owns, has agreed to acquire, or has received valid acceptances on 83.8% of Game’s issued share capital.

As a result, Game has this morning made an application to delist from the London Stock Exchange.

FTSE chairs rule out October Brexit

The majority of FTSE 100 chairs do not believe Britain will leave the EU on October 31.

Eleven out of 17 chairs interviewed by headhunting firm Korn Ferry said they were expecting a further delay to Brexit beyond the Halloween date.

However, half of them believe the next Prime Minister will be Boris Johnson, who has pledged to take the UK out of the EU on October 31 even without a deal in place.

Just three of the 17 chairs surveyed said a Brexit deal would be approved prior to October 31 to allow for a less disorderly Brexit.

Dominic Schofield, managing partner of Korn Ferry’s board practice, said: “Despite the tough rhetoric that has characterised Mr Johnson’s leadership campaign, UK chairmen are unconvinced that there will be ‘no second chances’.”

Amazon workers to stage Prime Day protests

Amazon staff will take part in Prime Day protests today in a backlash against what their union has labeled as “dehumanising” working conditions.

The GMB union is staging the protest at Amazon warehouses in Swansea, Peterborough, Warrington, Coventry, Milton Keynes, Doncaster and Rugeley.

It comes after research from GMB revealed that more than 600 reports have been made from Amazon warehouses to the Health and Safety Executive since 2016.

The union said employees are being made to work in “dangerous” conditions. And it labelled the Rugely site “one of the most unsafe places to work in Britain” after ambulances were called on 115 occasions over the last three years.