Skip to content
Search

Latest Stories

Former Post Office chief Paula Vennells quits Morrisons and Dunelm boards

Former Post Office chief Paula Vennells quits Morrisons and Dunelm boards

PAULA VENNELLS has resigned from the boards of supermarket Morrisons and furniture retailer Dunelm after an IT scandal at the Post Office resulted in a huge miscarriage of justice.

During her tenure as Post Office chief between 2012 and 2019, there were reports of problems with Horizon, the Post Office's faulty IT system, which were not properly investigated during her time.


After 39 sub-postmasters were cleared of theft, fraud and false accounting by the Court of Appeal, there are now calls for the company's former bosses to be prosecuted.

Moreover, unions and victims of the scandal are demanding Vennells to give back her CBE and the more than £2.2m she received in bonuses.

After the ruling, Vennells said she would comply with the government's ongoing inquiry into the scandal.

Andrew Higginson, Morrisons chairman, said: "Paula has been an insightful, effective and hardworking non-executive director, and, on behalf of the board, I want to thank her for her significant contribution over the last five years."

Andy Harrison, chairman of Dunelm, said: "We respect Paula's decision to step down from the board and I would like to thank her for the positive contribution she has made to the business since her appointment in September 2019."

More For You

modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)

Key issues in India, US trade talks

TRADE talks between India and the US have hit a roadblock over disagreements on duties for auto components, steel and farm goods, Indian government sources said to Reuters, dashing hopes of reaching an interim deal ahead of president Donald Trump's July 9 deadline to impose reciprocal tariffs.

Here are the key issues at play:

Keep ReadingShow less
Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less
Trump-Getty

Trump said that while deals are being made with some countries, others may face tariffs.

Getty Images

Trump says major trade deal with India may be finalised soon

US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations between the two countries.

“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India," Trump said at the “Big Beautiful Bill” event at the White House.

Keep ReadingShow less
Asda suffers nearly £600m loss as debt and IT costs surge

Asda co-ownerMohsin Issa. (Photo: Asda)

Asda suffers nearly £600m loss as debt and IT costs surge

ASDA, one of Britain’s largest supermarkets, has reported a pre-tax loss of £599 million for 2024, swinging sharply from a £180 million profit the previous year.

The loss comes despite total sales rising by over £1 billion to £26.8bn, as the retailer faces mounting debt costs, falling sales, and spiralling spending on a major IT overhaul, the Telegraph reported.

Keep ReadingShow less
Mounjaro

Mounjaro, or tirzepatide, is part of a new class of weight-loss medications, with trials showing patients losing an average of 20 per cent of their body weight after 72 weeks.

Reuters

Lilly to sell Mounjaro pens in India as Wegovy enters market

ELI LILLY said on Thursday that it has received approval from India's drug regulator to launch pre-filled injector pens of its weight-loss drug, Mounjaro.

The move gives the company more options to compete with Novo Nordisk, which recently launched its weight-loss drug Wegovy in the country.

Keep ReadingShow less