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BUSINESS LIVE: Mike Ashley poised to quit as chairman of Frasers Group

BUSINESS LIVE: Ashley poised to step down as Frasers’ boss; Taylor Wimpey builds record number of new homes; Legal & General sees profits top £1bn

On Tuesday evening it emerged that Frasers Group chief executive Mike Ashley will be stepping down from the helm. 

According to The Telegraph, Ashley will become the retailer group’s deputy chairman, with his soon-to-be son-in-law taking the top chairman post.

Housebuilder Taylor Wimpey saw its revenue surge in the last six months, after building a record number of new homes. 

The group completed some 7,303 homes in the six months to 4 July, up from 2,771 in the same period a year ago.

The record first-half performance was due in part to housebuilding delays that struck its fourth-quarter completions.  

London-based asset manager saw its operating profit rise to £1billion in the first half, up from £946million at the same point a year ago. 

Legal & General Group  said it remained ‘confident in our collective and successful emergence from the pandemic.’