Industry News

SPORTS Direct warned of a pounds sterling 35 m profit hit from a flash crash in the pound– prompting Chancellor Philip Hammond to call for calm on the currency markets. Sterling collapsed 9 pc against the dollar in seconds shortly after midnight yesterday, falling under $1.15 before immediately bouncing back up. Robot traders are thought to be behind the unprecedented plunge."/>
The pound flash crash cost Sports Direct pounds sterling 35M [Daily Mail, London]
Daily Mail, London, market report column [Daily Mail, London]
SVG Capital. The firm only has 36.2 pc support after being outbid by Goldman Sachs and the Canada Pension Plan Investment Board, who are offering pounds sterling 1.1 bn. HarbourVest has given investors in SVG until 1 pm on Thursday to accept its proposal."/>
Daily Mail, London, business briefs column [Daily Mail, London]
Comcast is opening up thousands of XFINITY WiFi hot spots in areas impacted by the storm in Florida, Georgia and South Carolina. These WiFi hot spots are open to anyone who needs them– including non-Comcast subscribers."/>
Comcast Activating Free XFINITY WiFi Hot Spots in Florida, Georgia and South Carolina Following Hurricane Matthew
Sun Sentinel Doreen Christensen column [Sun Sentinel]
Macy's stores in March-- a traditional Macy's department store and a Macy's Home store-- giving it twice the empty space to fill and twice the ambiguity. But that ambiguity turned to opportunity two weeks ago when Benderson Development purchased both properties."/>
McKinley Mall moves on after losing two Macy's stores [The Buffalo News, N.Y.]
Texas Roadhouse, which is actually based in Louisville, Kentucky, is fighting a court battle with the much smaller Northwest Indiana-based Texas Corral over alleged trademark infringement in the U.S. District Court, Northern District of Indiana."/>
Texas Roadhouse suing NWI's Texas Corral for trademark infringement [The Times, Munster, Ind.]
General Motors Co. plans to stop making certain cast-iron engine parts at its Defiance foundry over the next year and a half, a move that will result in the loss of about 150 jobs. The company recently notified employees of the plans and confirmed the details to The Blade on Friday. GM spokesman Kevin Nadrowski said the components being phased out are those made of nodular iron-- a more impact-resistant form of the metal used for engine parts such as crankshafts."/>
General Motors plans cuts at Defiance foundry [The Blade, Toledo, Ohio]

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