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Evening Standard
Evening Standard
Business
City Staff

FTSE 100 Live: Mike Ashley to step down, central banks in focus

Mike Ashley Frasers Group Sports Direct

Sports Direct owner Frasers Group today announced that founder Mike Ashley is to step down from the board after next month’s AGM.

Ashley set up the business in 1982 when he opened his first sports and ski shop in Maidenhead before overseeing its transformation into a FTSE 100-listed company with brands including House of Fraser and Jack Wills.

Central banks, meanwhile, are poised to announce more big interest rate hikes this week, with the US Federal Reserve expected to hike rates by 0.75% on Wednesday and the Bank of England to increase by 0.5% to 2.25% on Thursday.

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