Business
Frasers lowers goal for new bonus plan after boss misses £100m payout target
Frasers boss Michael Murray will miss targets to secure a £100 million bonus this year, but the firm has revealed plans for a new scheme with a lowered share price goal that could still see him net the mammoth payout by 2030.
Mr Murray, who succeeded his father-in-law Mike Ashley at the helm in 2022, has waived his salary for three years in a row in order to focus on meeting targets for the potential £100 million award.
The bonus is conditional on the group achieving a pre-tax profit of at least £500 million and a £15 share price for 30 consecutive dealing days.
The two conditions have to be met before October for Mr Murray to receive the mammoth payout under the current scheme.
While the group has met the earnings goal, delivering underlying pre-tax profits of £560.2 million for the year to April 27, it cannot meet the shares target by October, with Frasers stock at around £6.80 at the time of writing.
But ahead of its annual general meeting next month, the Sports Direct owner revealed proposals for a new five-year bonus scheme with a lowered share price target – from £15 to £12 – which could still see its chief executive secure a £100 million payout.
Under the new plans, Mr Murray must meet the shares target by September 30 2030.
It is also conditional on the group achieving an underlying pre-tax profit of at least £500 million, with all other aspects of the scheme remaining the same.
Mr Murray will also forgo the salary for the current 2025-26 financial year, according to Frasers’s latest annual report.
On the decision to amend the shares target for the next five years, Frasers said: “The committee views this as an appropriate share price target for all executive share scheme awards (including those for the chief executive) in the current macroeconomic and political environment which is challenging for all businesses in the UK and also internationally.”
It pointed out that £12 was still above the highest share price reached for Frasers in the past five years, which was £9.49.
Shareholders will vote on the plans at the group’s AGM on September 24.
Details of the new bonus plans came as Frasers announced that the former head of Britain’s audit watchdog will join the firm as chairman from next month.
Sir Jon Thompson will succeed David Daly, who steps down after eight years in the role.
Frasers appointed ex-Financial Reporting Council (FRC) boss Sir Jon to the board as a non-executive director in June and was widely reported to be lining him up to take over from Mr Daly this year.
Sir Jon will take on the role on September 1, with Mr Daly stepping down from the board at the firm’s AGM.
The group also announced the expected appointment to the board of Andy Lyon, a former partner at accountancy giant PwC, who acted as audit partner for Next and its credit business.
It said it was also set to appoint a second “well-advanced candidate” for a further non-executive director position as it looks to also replace Ger Wright and Helen Wright, who are not seeking re-election at the group’s upcoming AGM.
Mr Murray said: “Jon’s deep experience in corporate governance and strategic leadership will be invaluable as we continue to grow as a leading global retail business.”
Frasers is majority-owned by retail tycoon Mr Ashley and also owns brands including House of Fraser, Flannels and Jack Wills and stakes in firms such as Hugo Boss.
NEW DELHI: People with job cards assigned under Mahatma Gandhi National Rural Guarantee Scheme will be able to get work without disruption when transition takes place to new rural employment framework under Viksit Bharat-Guarantee for Rozgar and Aajeevika Mission (Gramin) Act.Even though exact timeframe is not known yet, rural development ministry officials said the VB-G RAM G scheme will come into force in the coming financial year after the Centre frames and notifies the rules. After govt notifies the Act’s commencement date, states will get six months to make their schemes to enable implementation of the law.To ensure there is no disruption and job guarantee is upheld during transition from MGNREGA, it has been proposed to enable workers to use the same job cards issued under MGNREGA with Aadhaar-based eKYC.The officials said that as of now, around 75% of job cards have been verified with eKYC under the ongoing scheme. Moreover, ongoing projects under MGNREGA, if incomplete when the transition happens to the new scheme, would stay on course.Meanwhile, work is on to frame rules, lay out regulations on normative allocations, fund flow plan, IT framework, a national-level steering panel and social audits.Under the new law, focus will be on transparency to weed out leakages and duplicacy of work,the social audit system will be strengthened, and technology leveraged to create systems to establish work progress, timely wage payment and accountability through ‘e-measurement’ books, sources said. Demand for work will have to be entered on a digital platform. Officials made it clear the new law in no way interferes with demand-driven character of the scheme.
Business
Gurugram Attracts Rs 86,588 Crore In Real Estate Investments In 2025 As RERA Clears 131 Projects
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Alongside rising investments, Gurugram RERA strengthened regulatory oversight to safeguard homebuyer and investor interests
Gurgaon Real Estate (Representative Image)
Gurugram emerged as one of India’s top real estate investment destinations in 2025, with projects worth Rs 86,588 crore receiving regulatory approvals during the year, according to data from the Gurugram Real Estate Regulatory Authority (Gurugram RERA).
Market observers said the numbers reflect strong investor confidence in the NCR’s largest commercial and residential hub.
Gurugram RERA registered 131 projects in calendar year 2025, representing development potential of 35,455 units across housing and commercial segments.
A striking feature of the data was the dominance of large-ticket projects. Just 28 major developments accounted for investments worth Rs 59,360 crore, highlighting the growing influence of institutional capital and large developers in shaping Gurugram’s property market.
Residential assets continued to attract the bulk of investment interest. Of the total units approved, 31,455 were residential, underscoring sustained end-user demand and long-term confidence in the city’s housing fundamentals.
According to Authority data, the residential mix included 17,405 group housing units, 5,720 mixed land use units, 4,040 residential floor units, 2,122 affordable group housing units, 1,954 units under the Deen Dayal housing scheme, and 214 residential plotted colony units.
Market observers said this diversified supply pipeline indicates capital deployment across both premium and mass segments, helping reduce concentration risk and deepen market resilience.
On the commercial side, Gurugram RERA approved about 4,000 commercial units, of which 168 were dedicated to IT parks, reinforcing Gurugram’s position as a preferred hub for technology firms and Global Capability Centres.
Analysts noted that the combination of office-led employment growth and residential expansion continues to make Gurugram attractive for long-term capital deployment.
Industry experts said the scale of investments approved in 2025 highlights Gurugram’s ability to attract capital despite global uncertainty, supported by infrastructure growth, a strong corporate base and an improving regulatory environment.
“With a large pipeline of approved projects and sustained interest from developers and institutional investors, Gurugram is expected to remain a key real estate investment destination in the coming years,” a Gurugram-based real estate expert said.
Tighter regulatory checks
Alongside rising investments, Gurugram RERA strengthened regulatory oversight to enhance transparency and safeguard homebuyer and investor interests.
“These steps included stricter scrutiny of developer submissions, mandatory site inspections by domain experts, and public consultation through mandatory notices before project registration,” an Authority official said.
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January 16, 2026, 07:44 IST
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National Startup Day highlights India’s thriving startup ecosystem, celebrating innovation, entrepreneurship and job creation driven by founders, unicorns and Startup India mission
National Startup Day 2026 honours Indian startups, entrepreneurs and innovators driving economic growth and job creation.
National Startup Day 2026: India’s startup ecosystem has evolved into one of the world’s most vibrant and promising innovation hubs. To recognise the contribution of entrepreneurs, founders and startups transforming ideas into impactful solutions, National Startup Day is observed every year on January 16 across the country.
Launched by Prime Minister Narendra Modi in 2022, the day celebrates visionary entrepreneurs who play a crucial role in economic growth, employment generation and technological advancement.
National Startup Day serves as a reminder that innovation, backed by determination and policy support, can reshape society and create global impact.
National Startup Day 2026 Theme
The official theme for National Startup Day 2026 is yet to be announced. However, the core focus areas are expected to revolve around:
- Innovation and emerging technologies
- Entrepreneurship and leadership
- Self-reliance (Atmanirbhar Bharat)
- Startup India Mission
- Youth empowerment
- Job creation
How Startups Are Shaping India’s Future
India currently ranks as the third-largest startup ecosystem globally, with over 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of early 2025. Backed by 100+ unicorns, the ecosystem continues to grow rapidly.
Metro cities such as Bengaluru, Hyderabad, Mumbai and Delhi-NCR lead this expansion, while Tier-2 and Tier-3 cities are emerging as new innovation centres, adding diversity and scale to India’s entrepreneurial journey.
Startups across fintech, edtech, health-tech, e-commerce and deep-tech are addressing real-world challenges and gaining global recognition. Technologies like artificial intelligence, blockchain and IoT are increasingly driving innovation, according to Startup India ecosystem reports.
Industry-Wise Startup Impact
DPIIT-recognised startups have generated over 16.6 lakh direct jobs across sectors as of October 31, 2024, strengthening India’s employment landscape.
- IT Services: 2.04 lakh jobs
- Healthcare & Life Sciences: 1.47 lakh jobs
- Commercial & Professional Services: 94,000 jobs
Through the Startup India initiative, the government continues to focus on skill development, funding access, ecosystem collaboration and global outreach.
Key Initiatives Under Startup India
- Capacity building and mentorship
- Outreach and awareness programmes
- Ecosystem development events
- International exposure and global linkages
- Collaboration between startups, corporates and institutions.
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January 16, 2026, 07:00 IST
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