He has been called the “Superyacht Influencer” by Forbes, featured in Bloomberg, GQ, Tatler and Robb Report, and commands a social footprint that reaches more than 100 million people each month.

Jonny Dodge presents himself as one of Britain’s most successful luxury entrepreneurs, with a portfolio of eight companies spanning superyachts, private aviation and Formula One hospitality. But a developer complaint currently dominating the homepage of mothercitycapital.com raises direct questions about the financial practices connected to his network.

The Public Empire

Dodge has spent more than 15 years building what he describes as an ecosystem of luxury businesses, each one feeding the next. His flagship company, MyOcean (my-ocean.com), is a community-driven superyacht platform covering charter, sales and management. YourSky (yoursky.com) extends the model into private aviation, offering jet and helicopter charter alongside bespoke travel itineraries. GP Management handles Formula One hospitality, from yacht parties in Monaco harbour to paddock access and corporate incentive programmes. The Dodgeball Rally, a supercar road trip from Monaco to Croatia running for more than 16 years, draws fleets of Ferraris, Lamborghinis, Bugattis and Koenigseggs on four-day routes each season.

Across these four core brands, and a wider portfolio of eight companies in total, Dodge reports 452,000 Instagram followers, three global offices and a combined monthly social reach exceeding 100 million. His stated approach is asset-light and focused on lifetime client value. As he told SuperYacht Times: “I am used to coming into industries and disrupting them.”

Mother City Capital

Mother City Capital was positioned as the investment layer of this broader ecosystem, described on its own site as wealth management “inspired by African values and global perspectives.” The proposition was straightforward: translate Dodge’s ultra-high-net-worth client base into a capital management product for internationally mobile investors.

What the site now displays is not a company pitch. It is a detailed complaint from a developer identified as rajathuraj, who claims to have built both mothercitycapital.com and a second website, maxhussmann.com, and alleges that $7,000 USD in agreed fees has not been paid. The developer names Bianca Caprozio as the lead contact on the project, and identifies Jonny Dodge and a second individual, Oliver Clarke, as recipients of $10,000 USD in commissions routed through YourSky and a Swiss entity, Cosatravel.

The complaint goes further, alleging that the construction of maxhussmann.com involved identity theft, and stating that the developer intends to report the matter to police unless payment is received. A reference to Caprozio’s association with the United Nations Reham al-Farra Memorial Journalism Fellowship is included in the statement, establishing her public profile as context for the allegations.

The YourSky Connection

The specific mention of YourSky is significant. YourSky is not a peripheral part of Dodge’s portfolio. It is one of his three named flagship companies, prominently featured on his personal website and in his Instagram bio alongside MyOcean and GP Management. The allegation that commission payments were routed through YourSky places the disputed financial flows at the centre of his primary business operations, not at the edges.

Cosatravel, the Swiss entity referenced in the complaint, does not feature in Dodge’s public-facing company listings or in any of his media coverage. Its role, as described in the developer’s statement, appears to be as an intermediary in the commission structure connecting the parties named.

A Pattern Worth Examining

Dodge’s business model, asset-light and built around commissions, referral networks and cross-selling across portfolio companies, creates a structure where financial relationships between entities are not always visible to outside parties. For a network handling significant sums in superyacht bookings, private jet charters and Grand Prix hospitality packages, an unpaid developer invoice of $7,000 is a modest figure. But the specificity of the complaint, naming individuals, amounts, corporate entities and an alleged criminal act, gives it weight beyond its headline number.

The complaint on mothercitycapital.com remains live. Dodge has not issued a public response.

His first investment, it has been noted in interviews, was a nightclub. That unconventional entry point set a tone that has defined his approach across every business since. Whether that same approach now extends to the wealth management arm his network was building is a question that, for the moment, the mothercitycapital.com homepage answers for itself.

The Indian IT services space continues to remain under pressure, with investor sentiment increasingly shaped by global cues and the growing anxiety around artificial intelligence-led disruption. In a recent interaction with ET Now, market expert Seshadri Sen from Emkay Global Financial laid out a nuanced view on the sector’s near-term pain versus long-term resilience, while also touching upon monsoon risks, earnings outlook and policy expectations.

AI narrative continues to dominate IT sentiment

The biggest overhang for IT stocks, according to Sen, is not immediate earnings damage but a persistent narrative shift.

He noted that: “Yes, I mean, IT keeps continuous to get cheaper because the narrative that AI is structurally damage into the sector is just not going away. And the results that come from the companies are not wishing that…, are doing nothing to dispel that fear among investors.”

While acknowledging that fears around artificial intelligence are weighing heavily on valuations, he argued that the extreme pessimism may not be fully justified.

“I do not think that AI is going to wipe out the IT services companies. And to be fair, the Accenture numbers I do not think there is going to be a great deal of consensus earnings downgrades and their cut in guidance is fairly marginal, the midpoint is down just 50 basis points.”
However, he cautioned that sentiment will remain weak in the absence of clearer visibility.
“In the next three to six months, I do not see a clear trigger for a re-rating.” On positioning, he added that he remains tactically cautious:
“We have been slightly underweight on IT… we would stay that because there are no triggers in the next three to six months for the sector to re-rate.”

Long-term opportunity, but short-term pain intact
Despite near-term weakness, Sen highlighted that valuations are beginning to look attractive.

“Most of them are trading at implied growth multiples which are now turning zero to slightly negative and very high free cash flow yields.”

However, he warned investors not to mistake valuation comfort for immediate upside.

“If you are willing to live through short-term pain, then yes, it is a good time to buy… but next three to six months at least there will be pain.”

Monsoon impact: inflation contained, rural stress visible
Turning to macro conditions, Sen addressed concerns around a weaker monsoon and its impact on markets, especially consumption and financials.

He noted that inflation risks are likely to remain contained: “There are enough buffer stocks and… policymakers have managed to keep a lid on inflation. You are not going to see inflation go up to 8%, 9%, 10%.”

However, rural demand remains a key monitorable:

“There will be pockets where you will see demand slowdown, a little bit of a negative surprise on growth in the consumer basket.”

At a broader level, he believes urban consumption and non-agri income will continue to dominate market direction.

Portfolio stance: consumption, industrials and select financials
On positioning, Sen highlighted a preference for growth-oriented domestic themes. “Our key overweights are consumption more on the discretionary side and industrials.”

He also remains constructive on select financial segments:

“Small and midcap financials which have seen wave of FDIs coming in… the valuations are on the right side.” Additionally, he flagged continued interest in internet-led businesses and select cyclical “post-war” trades such as OMCs and cement.

Earnings outlook improving into FY27
On earnings trajectory, Sen remains broadly optimistic, especially for large-cap indices. “We think Nifty earnings is broadly stable.”

He also highlighted improving breadth in corporate growth: “The share of companies which are delivering 25% plus growth goes up from 31% in FY26 to 41% in FY27.”

Flows: FII caution persists, but worst may be behind
On foreign flows, Sen pointed out that while structural concerns remain, the intensity of selling may ease. “I am not sure that flows will come back in a rush at this point in time… But at least the selling will stop.”

Domestic inflows, however, continue to provide strong support.

RBI likely to stay on hold
On monetary policy, Sen expects stability rather than further action from the central bank. “The RBI will stay on an extended pause from here. There is no reason to cut.”

He emphasized that transmission of earlier rate cuts, rather than fresh easing, will be the key theme going forward.

Bottom line
Markets are currently caught between competing forces — a deep valuation reset in IT, a stabilising macro environment, and improving earnings breadth heading into FY27. While near-term volatility remains, especially in export-linked sectors, domestic demand themes and financials continue to anchor broader market expectations.

Huge win in by-election paves way for Labour leadership challenge

Andy Burnham is heading back to Parliament after winning the Makerfield by-election.

The newly elected Labour MP came out on top in the race against a strong challenge from Reform UK candidate Robert Kenyon.

But overnight Mr Burnham secured a seismic win, with 24,927 votes placing him well ahead of Reform challenger Robert Kenyon who secured 15,696 votes. His return to Parliament is expected to pave the way for a leadership challenge against Prime Minister Keir Starmer.

It marks the end of weeks of campaigning in the constituency based south of Wigan, and the start of the next political race in Greater Manchester for Andy Burnham’s old job as mayor.

Becoming an MP disqualifies Burnham from being Greater Manchester mayor, so a replacement needs to be found for the region’s top political job.

That means another by-election is about to take place, with voters across Greater Manchester choosing the next mayor.

It is set to be a massive operation, with 2.1 million people registered to vote in the contest, and around 400,000 expected to do so by post.

Ahead of the crucial race, the Local Democracy Reporting Service (LDRS) takes a look at what happens next and when the mayoral by-election will be held.

What date will the by-election for Greater Manchester mayor take place?

The Greater Manchester Combined Authority (GMCA) has confirmed July 30 as the date for the mayoral by-election.

The GMCA’s returning officer, Caroline Simpson, told the LDRS earlier this month: “If the Makerfield by-election result triggers a mayoral by-election, Greater Manchester will be legally required to hold a by-election within 25-35 working days.

“To ensure we are ready, we have identified July 30 as the date which will allow the maximum number of people to vote, whether in person, by post or by proxy.

“This will avoid holding an election during the peak holiday period in August and will mean that postal votes will arrive just before, or only a day or two into, the school holidays.

“While Greater Manchester’s returning officers are very experienced at running elections, the lead time for a mayoral by-election would be shorter than for a scheduled poll.

“So, following legal advice, and with support from government and the Electoral Commission, we have begun essential preparation work such as booking polling stations. We are doing this in advance of, not in anticipation of, the Makerfield by-election outcome on June 19.”

The by-election touches all corners of Greater Manchester, so expect to see candidates campaigning across all ten boroughs of the city-region.

Counting for mayoral elections usually takes place the day after polling day, so the result should be known by Friday, July 31.

What voting system will be used?

The government has just changed the voting system for how mayors are elected.

A system called supplementary voting will be used to elect Greater Manchester’s next mayor, rather than the previous first-past-the-post method.

The change came into force on June 18 after passing through Parliament wrapped up in the English Devolution and Community Empowerment Act.

It could have a huge impact on deciding who becomes the next mayor of Greater Manchester. Voters choose a first and second preference among candidates in supplementary voting.

If no candidate gets 50 per cent of vote in the first round of voting, a second round of voting is held between the two candidates with the most support.

That’s the stage where secondary votes are added and could flip the entire result on its head.

One potential scenario could see party A win more votes in the first round of voting, but still go on to lose the mayoral by-election if party B picks up more second preference votes in round two.

Reform UK said earlier this week that the change was a ‘cynical attempt’ to sway the race in Labour’s favour. Labour didn’t comment when asked about the claims from Reform.

The change in voting system was debated in the House of Lords on June 16.

Lord Hayward, a Conservative, said: “Let us be honest about this order. It is not normal to identify who would be affected by a particular change of law, but this order is an attempt to prevent Reform winning the possible Greater Manchester mayoralty by-election.

“There is no other justification for the haste with which this order has been introduced, other than that it solves the Labour Party’s problems and prevents Reform winning a mayoralty.”

Baroness Taylor of Stevenage, for Labour, responded: “The Government were very clear during the passage of the English Devolution and Community Empowerment Act that we intended to make this change for mayoral and PCC elections after May 2026. There is now the potential for such an election; I will come on to more about that in a moment. We are therefore acting to deliver on our commitments made to Parliament.”

What happens next?

Political parties will choose their candidates to stand in the mayoral by-election before campaigning begins.

The rumour mill about who could stand for each party has already kicked in, with names being suggested by sources. Official announcements and campaign launches are expected to happen in the next few days.

What follows will be weeks of campaigning to try and convince voters to back their various visions for Greater Manchester.

The scale of the by-election means parties will be out and about across the region, from Wigan to Stockport and everywhere in between.

Whoever wins the race will be handed one of the most important political jobs in the country, running Greater Manchester.

The mayor of Greater Manchester has a huge range of responsibilities, from deciding the transport budget for the region from government, including over the future of bus services, to being the public’s voice on policing matters, and being in charge of funding for housing and regeneration schemes.

The stage is set for a fascinating race.

Leader of Torfaen Council has taken up the role

The Welsh Local Government Association (WLGA) has appointed Anthony Hunt as its new leader.

Mr Hunt, who has been leader of Torfaen County Borough Council since 2016, has held the finance and resources brief at the association for over a decade.

The representative body for the 22 local authorities in Wales said that local government in Wales is facing ongoing financial and service pressures.

It is calling on the new Plaid Cymru Welsh Government for fair, multi-year funding, stronger support for prevention, sustainable social care, investment in housing and education, highways and a greater focus on rural communities and connectivity. Mr Hunt said: “It is an honour to take on this role at such an important time for local government in Wales

“Councils are ready to work in partnership with the new Welsh Government to deliver for our communities. We were pleased to welcome Siân Gwenllian the new Local Government Minister, to our annual general meeting recently, and we are grateful for that engagement, which reflects the importance of an ongoing partnership between local and national government.

“That partnership has to be built on stability and trust. We need fair, multi-year funding settlements that allow us to plan properly, invest in prevention, and focus on long-term outcomes.

“Local government is at the heart of delivering the services people rely on every day, such as social care, housing, education and support for vulnerable families, and demand for those services continues to rise.

If we are serious about strengthening communities, then we must invest properly in those foundations.

“By working together across government, we can shift more focus towards prevention, strengthen the sustainability of social care, tackle the pressures in education, and ensure every community, including rural areas, has access to the services and infrastructure they need.”

“This is about turning shared priorities into real outcomes. Councils stand ready to play our full part in building stronger, fairer and more resilient communities across Wales.”

Cabinet Minister for Local Government, Housing and Planning, Siân Gwenllian, said: “I warmly welcome Anthony Hunt as the new leader of the WLGA. Local government is at the heart of everything we want to achieve for people across Wales.

“Delivering the homes and public services that communities depend on requires a strong, equal partnership between Welsh Government and local authorities -and I look forward to working with Anthony to shape a fairer Wales.”