Brussels starts to dance to Donald Trump's tune
Welcome to Trade Secrets. Alan has taken a well-earned break/deserted his post in the great trade war. So with impeccable timing this
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Yahoo
a day ago
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Post Office compensation chief let go after criticism by Sir Alan Bates
The Post Office director responsible for compensating victims of the Horizon scandal has been let go amid criticism of the process by Sir Alan Bates, The Telegraph can disclose. Simon Recaldin, who headed up the Post Office's Remediation Unit, is understood to have taken voluntary redundancy and left the organisation earlier this week. His departure comes ahead of the expected publication of the first part of a public inquiry report into the scandal, which will examine the compensation process and the impact on victims. Sir Alan, whose efforts to uncover the truth about Horizon, featured in an acclaimed ITV drama, criticised the overall compensation process last month and accused the Government of presiding over a 'quasi kangaroo court'. On Friday, a Post Office spokesman said Mr Recaldin's departure was a result of a review of its operating model and a subsequent 'Post Office-wide organisational design exercise'. The Telegraph understands that Joanne Hanley, who worked at Lloyds Banking Group for more than 20 years, is now covering a large part of Mr Recaldin's previous work. Before leaving for the Post Office, Ms Hanley was a managing director and global head of client servicing, data and operations for Lloyds' corporate markets. More than 900 sub-postmasters were wrongfully prosecuted between 1999 and 2015, when Fujitsu's faulty Horizon software incorrectly suggested that they were stealing money. A public inquiry into the scandal finished hearing evidence in December 2024 and the first part of the report is expected to be published in the coming weeks. Sir Alan has been highly critical of the various compensation schemes, which he described as 'quasi-kangaroo courts' in The Sunday Times last month. Speaking to The Telegraph on Friday, Sir Alan said: 'It's not so much as throwing out the people working on the scheme, it's more about throwing out the schemes – that would be my preference. 'We have got serious concerns about the transparency and the parity across the schemes.' Sir Alan, who won a High Court battle against the Post Office in 2019, said his latest compensation offer was on a 'take it or leave it' basis and amounted to less than half of his original claim. The campaigner and more than 500 other sub-postmasters who joined him in a court action have to apply for compensation through the Group Litigation Order scheme, now administered by the Government. Separately, the Post Office runs the Horizon Shortfall Scheme, set up for victims who were neither involved in the compensation scheme nor convicted as a result of false shortfalls. Mr Recaldin, who attended the inquiry for the second time in November last year to give evidence in its final phase, apologised when it emerged that staff involved in Horizon prosecutions were given jobs managing compensation claims. A former NatWest and Royal Bank of Scotland manager, he took on the position as head of the then-Historical Matters Business Unit in January 2022. When asked about former Post Office investigators, he told the inquiry: 'So my regret – and it is a genuine regret – is that when I came in, in January 2022, that I didn't do that conflicts check, check back on my inherited team, and challenge that. 'And that I absolutely apologise for, because I think that's something that should have been done.' A Post Office spokesman said: 'As part of the Post Office's commitment to deliver a 'new deal for postmasters', we have undertaken a review of our operating model to ensure we have the right structure in place. 'We have been in consultation with a number of colleagues from across the business, including the Remediation Unit. As a result of this Post Office-wide organisational design exercise, Simon Recaldin has left the business.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Travel Weekly
5 days ago
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Trade Secrets Tech Summit: Travel Pro Theory
Subscribe now using your favorite service: This season, Trade Secrets is hosting the Trade Secrets Tech Summit. Every Monday, co-hosts Emma Weissmann and Jamie Biesiada will feature a different travel technology company that works with travel advisors. A representative from the featured company will begin with a 5-minute elevator pitch to tell advisors about their product, followed by a 15-minute Q-and-A with the hosts. This week's featured company is Travel Pro Theory, represented by founder Kate Thomas. Trade Secrets is using Host Agency Reviews' list of technology providers as a basis for this season. If a technology company doesn't have a profile, advisors are encouraged to send a link to the hosts to be added to the list. This episode was sponsored by Globus family of brands. Further resources Travel Pro Theory on the web and Instagram (feel free to DM) Kate Thomas' previous appearance on Trade Secrets talking about advisor-supplier relationships From TravelAge West: 10 ChatGPT prompts every travel advisor should use Get in touch! Email us: tradesecrets@ Theme song Sock Hop by Kevin MacLeod License See for privacy information.
Business Wire
5 days ago
- Business Wire
Almonty Industries Appoints U.S. National Security and Defense Logistics Leader Alan Estevez to the Board of Directors
TORONTO--(BUSINESS WIRE)-- Almonty Industries Inc. (TSX: AII) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI) ('Almonty' or the 'Company'), a leading global producer of tungsten concentrate, is pleased to announce the appointment of Alan Estevez to its Board of Directors, effective May 30, 2025. Mr. Estevez is a nationally recognized authority in national security, defense logistics, and strategic trade. From 2022 to 2025, he served as Under Secretary of Commerce for Industry and Security, where he led U.S. efforts to curb adversarial military advancements by restricting access to sensitive technologies, particularly in China and Russia. Previously, he held senior roles within the U.S. Department of Defense, including Principal Deputy Under Secretary for Acquisition, Technology & Logistics, where he oversaw defense acquisition and supply chain operations. Mr. Estevez also advised Fortune 500 companies on logistics transformation during his tenure at Deloitte Consulting. He has received numerous honours for his public service, including three Department of Defense Distinguished Public Service Medals, the Presidential Rank Distinguished Executive Award, and the Service to America Medal. Lewis Black, Chief Executive Officer of Almonty Industries, commented: 'We are pleased to welcome Alan to the Board at a pivotal moment for Almonty. His deep expertise in national security strategy, defense logistics, and export controls—gained through decades of public service and leadership within the U.S. government—brings significant strategic value. Alan's firsthand experience in acquisition, contracting, and supply chain operations will be especially relevant as we advance our position as a key allied supplier of tungsten. His appointment aligns with our recently signed offtake agreement with a U.S. defense contractor to supply tungsten oxide exclusively for American defense applications. We look forward to benefiting from his insights as we continue building long-term, sustainable value for our shareholders.' About Almonty Almonty Industries Inc. is a diversified and experienced global producer of tungsten concentrate in conflict-free regions. The company is currently mining, processing and shipping tungsten concentrate from its Panasqueira mine in Portugal. It's Sangdong tungsten mine in Gangwon Province, South Korea, is currently under construction. The Sangdong mine was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, and has significant upside potential from an underlying molybdenum deposit. Additional development projects underway include the Valtreixal tin/tungsten project in northwestern Spain and Los Santos Mine in western Spain. Further information about Almonty's activities may be found at and under Almonty's profile at Legal Notice The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law, and therefore, persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions. Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. Disclaimer for Forward-Looking Information Certain information in this press release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology. Forward-looking information or statements in this press release include matters relating to the quantity of tungsten oxide to be purchased under the Offtake Agreement and the price at which such purchases will be made, the applications in which the purchased tungsten oxide will be used, the processing of the tungsten oxide, the time at which deliveries are expected to commence, the term of the Offtake Agreement and the anticipated benefits of the Offtake Agreement for Almonty. These statements and information are based on management's beliefs, estimates and opinions on the date that statements are made and reflect Almonty's current expectations. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Almonty to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: any specific risks relating to fluctuations in the price of ammonium para tungstate ("APT") from which the sale price of Almonty's tungsten concentrate is derived, the risk that the Offtake Agreement may be terminated in accordance with its terms before the end of its initial term, actual results of mining and exploration activities, environmental, economic and political risks of the jurisdictions in which Almonty's operations are located and changes in project parameters as plans continue to be refined, forecasts and assessments relating to Almonty's business, credit and liquidity risks, hedging risk, competition in the mining industry, risks related to the market price of Almonty's shares, the ability of Almonty to retain key management employees or procure the services of skilled and experienced personnel, risks related to claims and legal proceedings against Almonty and any of its operating mines, risks relating to unknown defects and impairments, risks related to governmental regulations, including environmental regulations, risks related to international operations of Almonty, risks relating to exploration, development, production and operations at Almonty's tungsten mines, the ability of Almonty to obtain and maintain necessary permits, the ability of Almonty to comply with applicable laws, regulations and permitting requirements, lack of suitable infrastructure and employees to support Almonty's mining operations, uncertainty in the accuracy of mineral reserves and mineral resources estimates, production estimates from Almonty's mining operations, inability to replace and expand mineral reserves, uncertainties related to title and indigenous rights with respect to mineral properties owned directly or indirectly by Almonty, the ability of Almonty to obtain adequate financing, the ability of Almonty to complete permitting, construction, development and expansion, and challenges related to global financial conditions. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to, no material adverse change in the market price of APT, the continuing ability to fund or obtain funding for outstanding commitments, no negative change to applicable laws, the ability to secure local contractors, employees and assistance as and when required and on reasonable terms, and such other assumptions and factors as are set out herein. Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary. Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. When relying on Almonty's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Forward-looking statements are made as of the date of this press release. Except as required by applicable securities laws, Almonty does not undertake any obligation to publicly update any forward-looking statements.
