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. A spokesperso ..read more

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 were put up f ..read more

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 the 32-year-old a ..read more

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 sport is beca ..read more

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 the recent default by Kemble Water Finance, concern h ..read more

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.  Pros  Cons ..read more

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 fancied rival A ..read more

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 chartered accountant at ..read more

The final day of the jumps season still has one big question to answer as three trainers can still finish at the top of the tree. Willie Mullins, Dan Skelton and reigning champion Paul Nicholls all go into Saturday at Sandown with chances of becoming champion trainer where we hope to see Jonbon taking on El Fabiolo in the Grade 1 Celebration Chase. City AM Racing editor Bill Esdaile previews the best of this weekend’s racing action, with Wally Pyrah discussing Sunday’s tremendous Champions Day meeting in Hong Kong. Hosted by Chris Barnett. The Punter ‘The Punter’ has been City AM’s dedic ..read more

A top investment bank has sounded the alarm and called on government to act today after a take-private deal for Darktrace took the total value of exits from the London Stock Exchange to north of £60bn. The £4.3bn take-private deal, struck with US private equity firm Thoma Bravo, marks the 20th takeover of a London-listed firm this year. Deals worth more than £26bn have now been waved through by boards sine January, with firms picked off at an average of 36 per cent above their value on the market, underscoring the valuation gap that has plagued London’s historic bourse in recent years. While ..read more