The chief executive of the Post Office, Nick Read, has stated at the Horizon IT scandal inquiry that not every quashed conviction of subpostmasters will be innocent. He denied the existence of any “postmaster-facing staff” involved in historical investigations and wrongful prosecutions. Read criticized former Post Office chair Henry Staunton for falling asleep in meetings and reducing his personal assistant to tears. Additionally, Read mentioned allegations of rude behavior towards other board members. Staunton, on the other hand, denied these allegations and claimed to be a champion of diversity.
The pound has reached a one-month low against the dollar as markets reassess the varying interest rate paths of the US Federal Reserve and the Bank of England. Meanwhile, the Bank of Israel has kept interest rates unchanged for the sixth time in a row, citing concerns over rising inflation and weaker economic activity.
Mondi, a British paper and packaging firm, is the top riser on the FTSE 100 after acquiring packaging assets to expand in Western Europe. On the global front, a potential geopolitical conflict could result in losses of $14.5 trillion over five years. Meanwhile, Nestlé is trialing paper tubs for Quality Street chocolates in an effort to reduce the use of virgin plastic.
Overall, the financial and regulatory landscapes continue to evolve as banks push for relaxed rules on deferred bonuses and clawbacks, while the global economy remains susceptible to potential disruptions in global trade and supply chains due to geopolitical conflicts.
Source
Photo credit www.theguardian.com