Latest news with #governance reforms
The Sun
a day ago
- Business
- The Sun
New boss Lord Allen to take reins of British racing as he says ‘work to do' to secure sport's future
THE new boss of British racing Lord Allen says there is 'work to do' - as his position in charge of the sport was finally confirmed. The Labour peer will start in his new role on September 1, having originally been in line to begin on June 2. 1 His tenure was delayed as the BHA said Lord Allen wanted to 'continue meeting stakeholders to better inform his vision for the sport'. After a lengthy consultation process his position was made official on Monday evening. A BHA statement on Monday evening said: "Lord Allen of Kensington will start work in his post as Chair of the British Horseracing Authority from 1 September, it was confirmed following a meeting of the organisation's Board. "The BHA Board affirmed its commitment to implementing governance reforms including a fully independent Board following constructive discussions. "The Board met in London on Monday to consider Lord Allen's response to submissions from shareholders regarding proposed governance changes. "As a result of these submissions, it was today agreed that work should now start towards the establishment of a single independent board of directors. "This will oversee a single BHA executive led by a CEO. "The agreement means Lord Allen will now take up his post from the start of September. "The incoming Chair and the Board will now begin the next steps towards creating an independent Board, including experienced individuals from the industry, through a period of transition and subject to ratification by the members." David Jones, Chair of the BHA's Nominations Committee and Interim BHA Chair said: "The BHA Board has made clear its commitment to pressing ahead with the establishment of an independent Board of Directors. "We look forward to working with Lord Allen to support the industry as it takes this important step forward towards a strong future." While new chief Lord Allen said: "I am delighted we have agreed to a process towards a new independent BHA Board, and I look forward to formally starting in September. "Horseracing has a strong future. There is work to do, but I am in no doubt as to the passion and commitment of the many thousands of people who make up our industry." Commercial content notice: Taking one of the offers featured in this article may result in a payment to The Sun. You should be aware brands pay fees to appear in the highest placements on the page. 18+. T&Cs apply. Remember to gamble responsibly A responsible gambler is someone who:
Yahoo
12-07-2025
- Business
- Yahoo
JPMorgan Says Korean Stock Gauge May Near 5,000 Over Two Years
(Bloomberg) -- South Korea's equity benchmark may rise more than 50% from its current level over a two-year period should corporate governance reforms gain momentum, according to JPMorgan Chase & Co. Singer Akon's Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Why Did Cars Get So Hard to See Out Of? Can Americans Just Stop Building New Highways? How German Cities Are Rethinking Women's Safety — With Taxis Denver City Hall Takes a Page From NASA Korea remains a key overweight market in Asia and among emerging markets, strategists led by Mixo Das wrote in a note on Friday. The Kospi Index, which has gained 32% so far this year to near a record high, could reach around 5,000, they said. That compares with Friday's close of around 3,176. The bullish outlook comes as JPMorgan raised Korea stocks to overweight from neutral this week, citing President Lee Jae Myung's aim to unlock 'the next phase of governance reforms' and his pledge to lift the Kospi to 5,000 during his five-year term. Lee also wants to tackle the so-called Korea discount, a long-standing grievance among global investors on a valuation gap compared to regional peers such as Japan and Taiwan. 'We continue to recommend adding on any volatility as long as the reform process remains on track,' the strategists said. 'Any volatility in global/regional equities over the summer — on tariff concerns, growth slowdown, bond market volatility — could thus quickly invite buying.' Recent reforms, including the passage of the commercial code revision, have been supercharging the nation's $2.1 trillion stock market. The Kospi is one of the best-performing gauges in the world this year. The Kospi could end up trading between 3,200 and 3,500 over the rest of the year, the JPMorgan strategists wrote, pointing to PharmaResearch Co.'s spin-off plan cancelation this week as a positive sign that demonstrates 'apparent bipartisan support' for further reforms. 'Ironically, foreign buying in the market this time around is far more muted, than in early 2024,' according to the strategists. 'But given the interest we receive from global investors, we believe this is more a case of investors looking for better entry points.' Trump's Cuts Are Making Federal Data Disappear Will Trade War Make South India the Next Manufacturing Hub? 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Soccer Players Are Being Seriously Overworked Trade War? No Problem—If You Run a Trade School ©2025 Bloomberg L.P.
