Vodafone chief executive Arun Sarin today said he was leaving the business "in capable hands" after announcing his departure and naming deputy Vittorio Colao as his successor to the top job.

Mobile phone giant Vodafone today unveiled a 5.7% rise in operating profits as it said chief executive Arun Sarin would step down at the end of July.

IF Alan Greenspan was still in charge at the US Federal Reserve Bank it is probable that would have cut rates before now.

THIS week the World Bank in its half-year review of the global economy highlighted the dangers of a slump in US property prices.

The founder of lastminute.com who steered it through the dotcom crash and its takeover by Travelocity stepped aside from the day-to-day running of the business today.