campaign is on his mind while on this trip to scotland and ireland. he says a victory for him would make america greater than ever before. he said earlier we will be leaving for scotland and ireland soon in order to inspect my great properties there. the second largest bank failure in history unfolds in the us as regulators shut down first republic bank and sell its assets tojp morgan. and solving london s housing crisis how one community is building its own solution selling affordable housing to locals. welcome to world business report, i m ben thompson. also in the programme we re going to take a look at the state of the commerical property sector, in the post covid world. but first. let s start in the united states, where us regulators have closed down first republic bank, and sold the troubled lenders assets tojp morgan. it was one of six banks that submitted bids to buy first republic, at an auction run by regulators. it makes it the second largest retail bank failure
iranian state television says that the supreme leader ayatollah ali khamenei has pardoned a large number of prisoners linked to protests. the state broadcaster says that ayatollah khamenei was responding to a proposal by the head of the judiciary. iranian media outlets say that the letter from the judiciary chief said that a number of people, especially the young, had committed wrongful actions and crimes because of incitement and propaganda by the enemy. our middle east analyst sebastian usher gave us this update. this is a pardon that comes on the eve of the anniversary of the 1979 islamic revolution, so there are pardons quite regularly for that. what we don t know, obviously the numbers. we don t know when or how this will happen. we do know the way that it s written says it s an answer to an appeal, a letter from the head of the judiciary who essentially frames it as being many people who went out to protest, particularly the young, were misled, by foreign agents, propag
what we don t know, obviously the numbers. we don t know when or how this will happen. we do know the way that it s written says it s an answer to an appeal, a letter from the head of the judiciary who essentially frames it as being many people who went out to protest, particularly the young, were misled, by foreign agents, propaganda from abroad, and that they now want forgiveness. and they re still described as riots, nothing more, nothing less. so, in terms of how the authorities frame this, obviously nothing has changed. also, it makes clear that people who are accused, who have been charged with more serious crimes, so that s spying, murder, destruction of state property, won t be pardoned. the issue about that is that many, many activists, many people involved in this say that those people who have been charged with the strongest offences have not had fair trials. they ve been summary trials. so they haven t had a fair look at what their case is anyway. i think this is