Tom Cruise, a luminary in the film industry, recently shared his insights on the importance of understanding the technical aspects of filmmaking, a knowledge he claims is often overlooked in traditional film education. During his acceptance of the British Film Institute Fellowship, Cruise emphasized the value of hands-on experience with film technology, such as cameras and lighting, for actors aspiring to excel in their craft.

"It is important to understand the tools around you," Cruise remarked, highlighting the gap in film school curricula regarding practical filmmaking skills. He advocates for a deeper engagement with the art form, suggesting that actors immerse themselves in editing rooms, produce their own projects, and study the classics to grasp the nuances of composition and lighting. According to Cruise, legends like Marlon Brando exemplified this comprehensive understanding of filmmaking tools.

Cruise's journey in the industry underscores his advice. Without formal training, he learned by observing and participating in every facet of production, a method he recommends to the next generation. His dedication to mastering the craft behind the camera, as much as in front of it, has been a cornerstone of his enduring success in Hollywood.

The actor's commitment to sharing his knowledge extends beyond advice. He has compiled a six-hour instructional video aimed at demystifying filmmaking for newcomers, a testament to his belief in the power of education outside the classroom. As Cruise continues to influence the industry both on and off the screen, his message is clear: understanding the full spectrum of filmmaking is essential for any artist looking to leave their mark on cinema.

The Central Bank of Ireland has concluded a long-running inquiry into the Irish Nationwide Building Society (INBS), resulting in significant penalties for former executives. John Stanley Purcell, a former board member, has been fined €130,000 and banned from the financial sector for four years due to his role in the society's governance and risk management failures. The inquiry highlighted a period between 2004 and 2008 where INBS's commercial lending practices were found to be lacking in oversight and adherence to financial regulations.

During the years under scrutiny, INBS's commercial loan book expanded dramatically from €3.59bn to €8.18bn, with commercial loans making up 78% of its total loan book by the end of 2008. The Central Bank's report detailed a culture of high-risk lending, where large sums were disbursed without proper documentation, adequate security, or necessary approvals. This reckless approach to lending was a significant factor in the society's eventual collapse during the financial crisis.

The inquiry also shed light on the broader systemic failures within INBS, including a lack of adherence to its own credit risk management policies and the absence of annual credit risk stress tests for commercial lending. Louise Gallagher, the Central Bank's head of enforcement investigations, emphasized the discovery of a pervasive culture that prioritized high-risk lending over sound financial practices. The findings underscore the importance of robust governance and risk management frameworks in financial institutions.

In addition to the penalties imposed on Purcell, the Central Bank's inquiry has led to settlements with other former INBS executives, including disqualifications and fines. The total cost of the investigation and inquiry into INBS's regulatory breaches amounted to over €24m, spanning 15 years from 2010 to 2025. This case serves as a stark reminder of the consequences of failing to uphold financial regulations and the critical need for accountability in the banking sector.