Business
Harrods sets aside more than £60m for Mohamed Al Fayed abuse victims
Harrods has set aside more than £60m in its plan to compensate alleged victims of historical abuse.
More than 100 employees of the luxury department store are expected to claim up to £385,000 each via the redress scheme which is open until March 2026.
The scheme, launched in March, provides to victims who claim they have suffered abuse by former Harrods owner Mohamed Al Fayed, who died in 2023.
Multiple women have accused Fayed, who owned the luxury store between 1985 to 2010, of rape and sexual assault. The Met Police said that 146 people have come forward to report a crime in their investigation into Fayed.
Harrods have set aside £57 million to be used to compensate alleged victims, with an extra £5.3m reserved to cover legal and administrative costs, bringing the total amount allocated to £62.3 million.
Harrods Managing director Michael Ward said that “more than 100 survivors” have joined the process of the scheme since it was opened.
He added: “Compensation awards and interim payments began being issued to eligible survivors at the end of April 2025 and the scheme will remain open until 31 March 2026.”
The compensation scheme will award each eligible claimant general damages of £200,000. They could receive up to £385,000 in compensation, plus treatment costs, if they agree to be assessed by a consultant psychiatrist, or up to £150,000 without a medical assessment, Harrods said in March.
Partially due to the scheme, Harrods recorded a £34.3 million loss in its latest full year accounts, compared with a profit of £111 million the previous year.
In a statement announcing the scheme, Harrods said: “While we cannot undo the past, we have been determined to do the right thing as an organisation, driven by the values we hold today, while ensuring that such behaviour can never be repeated in the future.”
To be eligible for the scheme, claimants must prove that they were subject to sexual assault and/or wrongful testing, and prove that Harrods is liable.
Many of those who say Fayed abused them underwent intrusive medical examinations when they were hired.
In accepting a compensation offer, victims will waive their right to pursue further action for damages.
The Harrods Group also operates smaller stores at London’s Heathrow and Gatwick airports, as well as a small chain of beauty stores. Revenues for the financial year 2024 were broadly flat at just over £1bn.
It blamed the drop in profits on weaker beauty trading and modernising some of its systems.
Mr Ward added: “The current domestic and global economic environment means that current trading conditions in the luxury sector remain challenging.
“However, we remain confident in the strength of the business, and the resilience of the luxury sector, and that we will continue to drive progress towards longer-term growth and performance objectives.”
Fayed was not charged before his death two years ago.
Business
India’s GDP grows at 7.8% in Q3 FY 2025-26: Top highlights from first data under new series – The Times of India
India’s real GDP grew at a robust 7.8% in the third quarter of FY 2025-26 according to data released by the Ministry of Statistics and Programme Implementation (MoSPI). This is the first GDP data that has been released by MoSPI under the new series which revises the base year for calculation purposes.India’s economy grew at 7.8% in the October–December quarter of 2025-26, compared with 7.4% in the corresponding period a year earlier, according to the revised national accounts series.MoSPI on Friday released the updated annual and quarterly national accounts estimates based on the 2022-23 base year, replacing the earlier series that used 2011-12 as the reference year.
India’s Q3 FY 2025-26 GDP data: Key Highlights
1. Under the revised series, GDP growth for the current financial year is projected at 7.6 per cent, slightly higher than the 7.4 per cent estimate provided in the ministry’s advance projections issued in January. Nominal GDP is projected to increase by 8.6 per cent in FY 2025-26. 2. The growth estimate for the July–September quarter of 2025-26 has been revised upward to 8.4 per cent from the earlier 8.2 per cent. 3. In contrast, the estimate for the April–June quarter has been lowered to 6.7 per cent from the previously reported 7.8 per cent.4. The overall economic performance in FY 2025-26 has been supported mainly by strong real growth recorded in the second quarter at 8.4 per cent and in the third quarter at 7.8 per cent.5. The economy has maintained steady growth momentum, with real GDP rising by 7.2 per cent in FY 2023-24 and 7.1 per cent in FY 2024-25.6. Nominal GDP growth stood at 11.0 per cent in FY 2023-24 and 9.7 per cent in FY 2024-25.7. Following the base year revision, the manufacturing sector has emerged as a key contributor to the economy’s resilience over the past three financial years, seeing double-digit growth in FY 2023-24 and again in FY 2025-26.8. Growth in both the secondary and tertiary sectors has also strengthened economic performance, with each recording growth of more than 9 per cent in FY 2025-26.9. Within the services segment, the “Trade, Repair, Hotels, Transport, Communication and Services related to Broadcasting and Storage” category registered growth of 10.1 per cent at constant prices in FY 2025-26.10. On the expenditure side, Private Final Consumption Expenditure and Gross Fixed Capital Formation each recorded growth exceeding 7 per cent during FY 2025-26.
Business
Video: The Web of Companies Owned by Elon Musk
new video loaded: The Web of Companies Owned by Elon Musk

By Kirsten Grind, Melanie Bencosme, James Surdam and Sean Havey
February 27, 2026
Business
Gold price prediction: What’s the gold rate outlook for February 27, 2026 & should you buy on dips? – The Times of India
Gold price prediction today: Gold rates are showing a positive bias, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Here is his detailed analysis on the intraday trading outlook:Gold April futures on MCX are trading near ₹1,60,100 after witnessing a sharp rebound from intraday lows around ₹1,58,500. The recovery indicates short-covering and fresh buying interest emerging near lower levels. The short-term structure now suggests a continuation bounce, provided key support holds.
Gold Technical Setup:
EMA 8 & EMA 21:Price has reclaimed the short-term EMA cluster after a strong rebound. The 8 EMA is turning upward and attempting to cross above the 21 EMA, indicating improving intraday momentum. Sustaining above ₹1,60,000 strengthens the bullish setup.Price Structure:The chart reflects a V-shaped recovery from lower levels with higher lows forming on the 30-minute timeframe. This suggests that buyers are defending dips aggressively.RSI Indicator:RSI is near 57, comfortably above the neutral 50 level, signaling strengthening bullish momentum without entering overbought territory.MACD:MACD has turned positive with a bullish crossover and expanding green histogram bars, confirming recovery momentum.Volume & Open Interest:Rising price with stabilizing open interest suggests short-covering support, adding strength to the rebound.
Gold Intraday Trading View:
• Strategy: Buy on dips • Entry Level: ₹1,60,100 • Stop-Loss: Below ₹1,59,400 • Targets: ₹1,60,600 and ₹1,61,000 • Bias: Bullish above ₹1,60,000; weakness resumes only below ₹1,59,400.Gold’s intraday technical structure has shifted positive after reclaiming key resistance levels and forming a strong recovery pattern. Momentum indicators support further upside extension toward ₹1,60,600 and ₹1,61,000. Traders are advised to initiate long positions near ₹1,60,100, maintain a strict stop-loss below ₹1,59,400, and look for continuation gains during the session.Bias: Buy on Dips | Support: ₹1,60,100 | Target: ₹1,60,600 / ₹1,61,000(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
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