Skip to content
Search

Latest Stories

British Outsourcing Company Capita Gets New CFO

British outsourcing company, Capita has appointed Patrick Butcher as its chief financial officer (CFO). He is expected to join Capita and company board at the end of the year, the company said in a statement on Wednesday (22).

Patrick Butcher has been serving as the finance chief of bus and train company Go-Ahead Group since 2016. Patrick has 19 years of experience as a finance director, including six years as Group Finance Director at Network Rail from 2009. His early career was spent at Deloitte & Touche, where he trained as a chartered accountant, and worked across its audit and management consultancy practices.


Further to the announcement on July 18, the board has agreed with Nick Greatorex that he will step down from the board and leave Capita on September 30, 2018.

“Patrick is joining Capita at an exciting time. We have de-levered the balance sheet, disposed of non-core assets, started to reduce costs and invest in the business. We are looking forward to adding Patrick’s new perspective, energy, and experience to support the good start we have made with our transformation programme and a new strategy, delivering the commitments we have made to all our stakeholders,” said Jonathan Lewis Chief Executive Officer at Capita commenting on the new appointment.

Capita delivers information technology led services to the public and private sectors. The company, this month recorded a 60 per cent fall in pre-tax profit during the first half.

More For You

India's central bank cuts interest rates for first time since 2020

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.. (Photo credit: Reuters)

India's central bank cuts interest rates for first time since 2020

THE RESERVE BANK OF INDIA (RBI) reduced interest rates on Friday for the first time in nearly five years, citing concerns over economic growth despite inflation risks.

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.

Keep ReadingShow less
Sri Lanka seeks to negotiate with Adani over renewable energy plants

Gautam Adani

Sri Lanka seeks to negotiate with Adani over renewable energy plants

SRI LANKA’S government started talks with India’s Adani Group to lower the cost of power from two wind power projects the group will build in the island nation’s northern province, the cabinet spokesman said last Tuesday (28).

Sri Lanka has been reviewing the group’s local projects after US authorities in November accused billionaire founder Gautam Adani and other executives of being part of a scheme to pay bribes to secure Indian power supply contracts. Adani has denied the allegations.

Keep ReadingShow less
Bank-of-England-Getty

The BoE also revised its economic growth forecast for 2025, reducing it by half. (Photo credit: Getty Images)

Bank of England cuts rates, lowers growth outlook

THE BANK OF ENGLAND (BoE) has cut interest rates by 0.25 percentage points to 4.5 per cent, with some policymakers supporting a bigger reduction to counter economic slowdown. However, the central bank signalled a cautious approach to future cuts, citing inflation concerns and global uncertainty.

The BoE also revised its economic growth forecast for 2025, reducing it by half. Chancellor Rachel Reeves, who has been advocating for faster economic growth, faces a challenge as inflation is now projected to be nearly double the 2 per cent target this year.

Keep ReadingShow less
Indian billionaires and tech titans shake up English cricket with major investments in The Hundred

The Oval Invincibles, now co-owned by Mukesh Ambani, are two-time defending champions in the men’s 100-ball competition

Indian billionaires and tech titans shake up English cricket with major investments in The Hundred

INDIAN billionaires and Indian American tech tycoons are among new owners of franchises in the Hundred cricket league.

Mukesh Ambani, Nikesh Arora and Sanjiv Goenka have in recent days invested in English cricket by acquiring a minority share in some of the Hundred teams.

Keep ReadingShow less
Bank-of-England-Getty
A general view of the Bank of England on December 19, 2024 in London. (Photo credit: Getty Images)

Bank of England set to reduce interest rate amid weak growth

THE BANK OF ENGLAND is expected to cut its key interest rate on Thursday as it seeks to support weak economic growth, even though inflation remains above target.

Analysts predict the central bank will reduce borrowing costs by a quarter point to 4.50 per cent at its first rate meeting of the year.

Keep ReadingShow less