The ex-chief executive of the former national lottery operator Camelot has been named as the new interim chair of the Post Office. The government said on Wednesday that the business secretary, Kemi Badenoch, had appointed Nigel Railton to the role, replacing Henry Staunton, who was sacked in January. The government said Railton had been chosen … Read more
Ambuja Cements reported a standalone net profit of Rs 532 crore for the quarter ended March 2024, which is higher by 6% year-on-year. The company had clocked a profit of Rs 502 crore in the same period last year. Revenue from operations during the fourth quarter increased 12% year-on-year to Rs 4,780 crore, compared with … Read more
Manchester United have announced that their interim chief executive, Patrick Stewart, and chief financial officer, Cliff Baty, will leave the club at the end of the season. Jean-Claude Blanc, the chief executive of United’s minority owners Ineos Sport, will step into Stewart’s role until 13 July, when Omar Berrada will take over after his impending … Read more
The family of 127-year-old Godrej Group, which has both the listed and unlisted entities, decided to split the conglomerate and operate as two entities — Godrej Enterprises and Godrej Industries. The conglomerate operates across aerospace, aviation, defence and liquid engines among others. The realignment will be implemented after the relevant regulatory approvals have been obtained, … Read more
Potentially thousands of Qantas customers have had their personal details made public via the airline’s app, with some frequent flyers able to view strangers’ account details and possibly make changes to other users’ bookings. Clare Gemmell from Sydney said that she and four colleagues encountered the problem shortly after 8.30 on Wednesday morning. “My colleague … Read more
Introduction: UK house prices dip again Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. UK house prices dipped again in April, as rising borrowing costs made it harder for buyers to afford a mortgage. Lender Nationwide has reported that prices fell by 0.4%, on a seasonally-adjusted … Read more
A £760m equal pay liability bill at Birmingham city council, which led it to effectively declare bankruptcy and make a swathe of drastic budget cuts, could be hugely overstated, councillors, researchers and whistleblowers have said. Sources inside the Labour-led council said the local authority’s finances were in disarray as a result of a faulty IT … Read more
In October I bought an electric Brompton bicycle for just under £3,000. Initially all was well but about three months before the two-year warranty expired, it started suffering intermittent power problems. It would work on the electric assist, and then wouldn’t. I stopped using it as a result. I was very busy with work, so … Read more
Questions are starting to emerge about how exactly Birmingham city council ended up in a financial crisis, and whether the figures behind its problems actually stack up. Here is a rundown of how events unfolded. April 2022 – The council’s new IT system, its first major upgrade since 1999, goes live. Councillors say IT staff … Read more
Millions of investors across the globe will have their eyes glued to their screens tonight when the Federal Open Market Committee meeting gets underway. At stake is the answer to the trillion-dollar question of whether the Federal Reserve — in its wisdom —will decide to keep the interest rates higher for longer, or will it, … Read more
