Mike Ashley blames ‘greedy landlords’ for store closures, Porsche ditches diesel for good, and more top news

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House of Fraser has announced the closure of stores in Edinburgh, Hull and Swindon, making hundreds of staff redundant. Sports Direct tycoon Mike Ashley slammed “a small number of greedy landlords who still refuse to be reasonable,” after failing to agree new rental terms with the landlords of the three stores. Ashley has so far rescued 20 out of 59 stores in the UK after vowing to try and keep 80% of the branches open.

Porsche will no longer offer diesel cars, the company announced yesterday. The German carmaker is instead turning its focus to electric and hybrid vehicles as demand for diesel slumps. In 2017, diesel cars accounted for just 12% of Porsche’s global sales. The move comes after parent company Volkswagen was fined ￡900m in June for cheating emissions tests. Sales of electric and alternative fuel vehicles in the UK reached a record 7,489 last month, accounting for one in every 12 new cars purchased.

Comcast has outbid 21st Century Fox for broadcaster Sky. The two US companies went head-to-head over the weekend in a rare blind auction that saw Comcast emerge as the winner with a ￡30 billion offer in the third and final round. The deal ends media mogul Rupert Murdoch’s involvement with Sky, almost 30 years after he created the satellite TV group. Sky is Europe’s biggest pay-TV provider, with 23 million subscribers.

The future of Bestival is in jeopardy, as the company behind the annual music event nears collapse. James Benamor, who founded Amigo Loans, has filed notices at the High Court of his intention to appoint administrators to Bestival Group, Bestival Ltd and Camp Bestival. Earlier this year, Camp Bestival promised festival-goers refunds after cancelling its final day due to severe weather conditions.

Golf clubs must transform themselves if they’re to stem declining memberships, according to new findings. A study funded by the World Golf Foundation encouraged clubs to promote new versions of the game that are quicker and easier to play. Researchers also point to lowering membership fees, introducing childcare facilities and ensuring women and minorities feel more welcome. According to England Golf, membership of clubs in England has fallen from 850,000 in 2006 to 652,000.

Idea of the Day: Many think leadership is all about having the right answers at the ready. But entrepreneur and author Chip Conley writes that the best leaders — no matter how experienced they are — understand the importance of showing humility by asking questions and seeking out help.

“Great leaders understand that it’s not easy to translate vision into reality. And they realise they can’t do it alone. The most effective leaders are those who seek out what they and their company need. That kind of growth mindset is ageless.”

— Natalie MacDonald