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Finance Notes: Gary Neville's Towers Plan Has Him In Battle With Heritage Lobby

Former ManU player Gary Neville "has already taken on his old football club in his new career as property developer." Now he is "in a battle with the heritage lobby." Neville and former teammate Ryan Giggs "have signed up Asian investors to transform a historic part of Manchester." But campaigners "oppose their plans to pull down part of the city centre to construct two skyscrapers" just yards from the city's Grade I-listed town hall and library. Historic England, the government heritage body, has "great concern" over the £200M ($264M) plans. The St. Michael’s development includes a five-star hotel, 153 luxury apartments, 135,000 square feet of offices and a split-level public plaza. One tower will be 31 stories high, the other 21 (FINANCIAL TIMES, 8/25).

Sports Direct "has come under renewed pressure after some of the world's biggest investors," controlling assets worth £14.5T ($19.1T), called for an "independent review of the scandal-hit retailer's corporate governance framework at its annual meeting next month." The Investor Forum -- which represents asset management groups including BlackRock and Allianz Global Investors -- in a statement demanded the board "take urgent action to begin rebuilding the confidence of shareholders and that of wider stakeholders." It said the independent review "should look at corporate governance and board oversight and effectiveness, employment practices, acquisition strategy and supervision of key supplier relationships" (FT, 8/25).

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