3 h. ago British taxpayers lose £400m as result of investment fund set up by Sunak

Report shows 334 companies backed by Future Fund, set up in May 2020 by then chancellor, had since gone underBusiness live – latest updatesUK taxpayers have lost £400m after the collapse of hundreds of startups backed by a heavily-criticised Covid-era investment fund launched by former prime minister Rishi Sunak.The so-called Future Fund had originally spent £1.14bn backing 1,190 companies, including those not usually associated with government portfolios, such as the sex party organiser Killing Kittens and now-defunct festival tickets business Pollen. The fund also invested nearly £2m in companies linked to Sunak’s wife, Akshata Murty. Continue reading...

Economics

3 h. ago Taxpayers lose £400m as result of investment fund set up by Rishi Sunak

Report shows 334 companies backed by Future Fund, set up in May 2020 by then chancellor, have since gone underBusiness live – latest updatesUK taxpayers have lost £400m following the collapse of hundreds of startups backed by a heavily criticised Covid-era investment fund launched by Rishi Sunak when he was chancellor.The Future Fund spent £1.14bn backing 1,190 companies, some of them of types not usually associated with government portfolios such as the sex party organiser Killing Kittens and the now defunct festival tickets business Pollen. Continue reading...

Economics

5 d. ago I'm a fund manager... this is the one share I'd hold for the next decade, says Mercantile Trust's Guy Anderson

Guy Anderson, fund manager of Mercantile Investment Trust, on Games Workshop, Plus500, Bitcoin and the 'cheap' UK market.

Politics

6 d. ago Leading UK finance and investment platform secures £500 million funding

A Leading UK finance and investment platform has secured a £500 million fund - marking a pivotal evolution in its growth trajectory.

Economics

2 w. ago Top pension fund pulls €14bn from BlackRock in sustainability pivot

Dutch fund dumps world’s largest asset manager as European investors increasingly diverge with US over ESG

Economics

3 w. ago Lottery firm Allwyn valued at £9.6 billion after Czech owner sells part of stake

Allwyn said central European investment fund J&T Arch has snapped up a 4.27% stake in the business.

Economics

4 w. ago In Norway we see ourselves as ethically virtuous – so why is our oil wealth enabling genocide? | Sindre Bangstad

With an election looming, will politicians finally listen to the majority of citizens, who want to divest from Israeli arms companies?Oil has made Norway extremely rich. We have the world’s largest sovereign wealth fund, which was established with petroleum revenues in 1990. Headed by the wealthy banker and art investor Nicolai Tangen, the Government Pension Fund Global (GPFG), has a current value of more than 20 239bn Norwegian kroner (£1.4tr). With holdings in about 8,500 companies in 69 different countries, it is the largest single investor in the world.Norway also purports to have a human-rights-based foreign policy, and the sovereign wealth fund is supposed to adhere to a set of ethical guidelines. Companies may be excluded if there is a risk that they contribute to or are responsible for serious human rights violations, or are involved in the sale of weapons to states that violate international law in armed conflicts. A Council on Ethics makes recommendations about exclusions ...

Politics