Business World

Wednesday 21 March 2018

Carphone names new China chief

CARPHONE Warehouse Ireland chief executive Stephen Mackarel has been appointed chief operating officer of the company in China. He will remain on the board of the Irish business as a non-executive director. Peter Scott has been appointed general manager in Ireland.

Qantas claims Irish CEO threatened

QANTAS says its Irish chief executive, Alan Joyce, has received a threatening letter related to its current industrial dispute. The letter comes amid a row between the Australian airline and unions on a restructuring and outsourcing plan that could lead to job cuts. But officials from two unions have raised doubts about the authenticity of the letter. Police are investigating the matter. Mr Joyce has been Qantas's chief executive since 2008.

Heads roll at UBS after 'rogue trading'


UBS has said it is preparing to take "disciplinary action" against individuals deemed responsible for an alleged rogue-trading incident. It comes as the joint heads of the Swiss bank's equities division, in which the incident took place, quit. Francois Grouws and Yassine Bouhara took "responsibility for the effective management of the equities business". Equities trader Kweku Adoboli was last month arrested for allegedly losing $2.3bn (€1.7bn) in unauthorised trades. The UBS chief executive, Oswald Gruebel, quit last week.

Wembley 'will break even in 2015' -- FA


FOOTBALL Association chairman David Bernstein has said English football's national stadium, Wembley, will break even by 2015, one year later than had been planned. He said the rebuilt stadium was showing an annual operating profit of between £40m (€46m) and £50m but that interest charges and other costs remained an issue. Mr Bernstein told delegates at an event in London: "By 2015, Wembley should start putting money back into the game, instead of being subsidised by the game."

Indo Business

Business Newsletter

Read the leading stories from the world of Business.

Also in Business