Skip to content
Search

Latest Stories

UK government vows payouts in Post Office scandal

THE UK government on Tuesday (14) promised to pay final settlements to Post Office workers wrongly convicted of defrauding their branches due to computer glitches in a major miscarriage of justice.

The scandal saw the Post Office prosecute hundreds running small local branches for alleged false accounting and theft, after its IT system called Horizon reported shortfalls between 2000 and 2014.


Some of the subpostmasters were imprisoned and others failed to find other jobs and lost their homes.

In 2019, the High Court ruled that the IT system was affected by bugs and defects and courts have gone on to quash 72 convictions.

Postal Affairs minister Paul Scully said in a statement that the government was making funding available to allow the Post Office "to make final compensation payments to postmasters whose convictions have been overturned".

The Post Office has the government's department for business as its sole shareholder.

There are "potentially hundreds more postmasters whose convictions have relied on Horizon evidence and may seek to have their convictions quashed," Scully added.

"By providing this funding, Government is helping Post Office deliver the fair compensation postmasters deserve," the minister said.

In a tweet, he said "the Horizon dispute has had a horrendous impact on many postmasters and their families".

The minister's statement was released ahead of a meeting of MPs with former subpostmasters, who described the financial toll they had faced.

They said that questions remained over whether hundreds who had paid back erroneous shortfalls to the Post Office but were not convicted would receive compensation payments.

(AFP)

More For You

Shein-Reuters

Shein had aimed to go public in London in the first half of this year, subject to regulatory approvals in the UK and China. (Photo: Reuters)

Shein cuts valuation to £40 billion for London listing

SHEIN is preparing to lower its valuation to around £40 billion for a potential initial public offering (IPO) in London, according to three Reuters sources familiar with the matter.

This is nearly 25 per cent lower than the company's 2023 fundraising valuation as it faces increasing challenges.

Keep ReadingShow less
Northern-Superchargers-Getty

Ben Stokes and Matthew Short of Northern Superchargers walk out to bat during The Hundred match between Manchester Originals and Northern Superchargers on August 11, 2024 in Manchester, England. (Photo: Getty Images)

Sunrisers Hyderabad to acquire Northern Superchargers in £100 million deal

INDIAN Premier League franchise Sunrisers Hyderabad is set to become the first full owners of an English Hundred team after agreeing to buy Yorkshire’s Northern Superchargers for a reported £100 million.

The Sun Group will be the third IPL-linked investor in the eight-team Hundred competition, following Reliance Industries, which owns Mumbai Indians, and RPSG, which runs Lucknow Super Giants.

Keep ReadingShow less
BT-Getty

A view of the British Telecom (BT) headquarters in central London. (Photo: Getty Images)

BT to remove diversity targets from manager bonuses

BT will remove diversity, equity, and inclusion (DEI) targets from its manager bonus scheme, replacing them with a measure of overall employee engagement.

The change, set to take effect in April, follows consultation with major investors and has received “strong support,” according to the company, The Telegraph reported.

Keep ReadingShow less
India's central bank cuts interest rates for first time since 2020

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.. (Photo credit: Reuters)

India's central bank cuts interest rates for first time since 2020

THE RESERVE BANK OF INDIA (RBI) reduced interest rates on Friday for the first time in nearly five years, citing concerns over economic growth despite inflation risks.

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.

Keep ReadingShow less
Sri Lanka seeks to negotiate with Adani over renewable energy plants

Gautam Adani

Sri Lanka seeks to negotiate with Adani over renewable energy plants

SRI LANKA’S government started talks with India’s Adani Group to lower the cost of power from two wind power projects the group will build in the island nation’s northern province, the cabinet spokesman said last Tuesday (28).

Sri Lanka has been reviewing the group’s local projects after US authorities in November accused billionaire founder Gautam Adani and other executives of being part of a scheme to pay bribes to secure Indian power supply contracts. Adani has denied the allegations.

Keep ReadingShow less