The City roundup video: Mike Ashley leaves retail sector guessing

Video: Alex Lawson provides a run-down of the day's major news from the City

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Don't miss out on the goings on in the business world, with our daily round-up of the biggest news from the City.

On the face of it the pint-swilling, slightly rotund figure of Sports Direct founder and Newcastle United owner Mike Ashley may not scream the City's most impressive mind.

But retail billionaire Ashley has confounded many in the square mile with his leftfield moves and kept the entire retail sector guessing.

Today the chief executive of his Sports Direct empire, Dave Forsey, said there may be more share bets to come, after Ashley took out options in Debenhams and Tesco earlier this year.

The share bets essentially allow investors to step up their stakes in the businesses and, although his Tesco bet isn’t looking to good at the moment, many retailers will be on alert.

The media shy Ashley is a divisive figure – not least when he keeps his wallet closed for potential Newcastle transfers – but he remains one of the most intriguing figures in UK business.

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