The pound began falling yesterday before the ONS announced inflation fell by 0.4% to 4% yesterday.
Rumours had been circulating amongst traders that inflation would fall, despite economists’ predictions it would rise, the Telegraph reported.
Nuns attack Goldman Sachs fat cat pay
The Sisters of St Francis, a convent of nuns from Philadelphia, are joining forces with corporate social responsibility activists to attack executive pay.
The St Francis nuns, as part of the Interfaith Centre on Corporate Responsibility, will attend the Goldman AGM in May to protest against the company paying its top five directors £43m annually.
Sister Nora Nash, director of corporate social responsibility for her community, has backed a resolution calling on the bank to review executive pay, justify remuneration and give shareholders more detail, the Guardian reported.
AIB cuts 2,000 jobs
Allied Irish Banks (AIB) will cut more than 2,000 jobs following an annual loss of £9.2bn.
AIB, which is now 92.8% state-owned, said poor market conditions have forced it to cut costs, the Daily Mail reported.
The troubled lender currently employs 12,000 staff in Ireland and a further 2,507 in the UK.
