Skip to content
Search

Latest Stories

Boohoo co-founder Kane wins shareholders’ vote on re-election to board

Boohoo co-founder Kane wins shareholders’ vote on re-election to board

ONLINE fashion retailer Boohoo’s co-founder and executive director, Carol Kane won overwhelming support from investors for her re-election to the board on Friday (18).

Some 12 per cent of votes cast at its annual general meeting (AGM) were against the resolution to re-elect Kane, while 88 per cent were in favour.


Ahead of the AGM, shareholder advisory body Glass Lewis had urged investors to vote against the re-election, after the last year’s allegations that Boohoo failed to act quickly to stop poor working conditions at its Leicester factories.

"The board is delighted that shareholders have recognised the important and very specific role Carol has on the board with a very strong vote in her favour," Boohoo said.

The company’s other co-founder Mahmud Kamani did not face a vote on his re-election this year.

In September, Boohoo accepted all the recommendations of an independent review that found major failings in its supply chain in England.

The group pledged to fix the problems with its 'Agenda for Change' programme.

Boohoo also faced investor criticism over a bonus scheme, as per which 150 million pounds will be paid to its founders and executives if its share price rises 66 per cent over three years from June 2020.

"The remuneration committee looks forward to ongoing engagement with the group’s shareholders as it continues to shape the group’s future remuneration policy," Boohoo said.

Meanwhile, Boohoo reported a 32 per cent revenue growth in the quarter ended May, benefiting from strong demand for dresses and going-out wear after Covid restrictions eased in the UK.

More For You

UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy grew 0.7 per cent in Q1 2025, fastest in a year

THE UK economy expanded at its fastest pace in a year during the first quarter of 2025, driven by a rise in home purchases ahead of a tax deadline and higher manufacturing output before the introduction of new US import tariffs.

Gross domestic product rose by 0.7 per cent in the January-to-March period, the Office for National Statistics (ONS) said, confirming its earlier estimate. This was the strongest quarterly growth since the first quarter of 2024.

Keep ReadingShow less
Rosneft in early talks to sell India refinery stake to Reliance

Reliance Industries chairman Mukesh Ambani (Photo: Getty Images)

Rosneft in early talks to sell India refinery stake to Reliance

RUSSIAN oil major PJSC Rosneft Oil Company is in early discussions with Reliance Industries to sell its 49.13 per cent stake in Nayara Energy, an Indian energy company that operates a 20-million-tonnes-per-year oil refinery and 6,750 petrol pumps, sources familiar with the matter said.

The deal, if finalised, would see Reliance overtake state-owned Indian Oil Corporation (IOC) to become India’s largest oil refiner. It would also provide Reliance with a significant expansion in fuel retailing, where it currently holds a relatively small presence.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Key issues in India, US trade talks

TRADE talks between India and the US have hit a roadblock over disagreements on duties for auto components, steel and farm goods, Indian government sources said to Reuters, dashing hopes of reaching an interim deal ahead of president Donald Trump's July 9 deadline to impose reciprocal tariffs.

Here are the key issues at play:

Keep ReadingShow less
Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less
Trump-Getty

Trump said that while deals are being made with some countries, others may face tariffs.

Getty Images

Trump says major trade deal with India may be finalised soon

US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations between the two countries.

“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India," Trump said at the “Big Beautiful Bill” event at the White House.

Keep ReadingShow less