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The Latest Breaking News from Future Fund

‘A naive and stupid idea’: how Rishi Sunak’s Future Fund spent millions on failed firms

The then chancellor’s loan scheme, set up as Covid hit, was supposed to keep dynamic startups going, but ended up giving taxpayer cash to long-established or lame duck businesses

The Guardian - UK

Michael Pascoe: Labor spins a housing policy that does nowhere near enough

Labor’s successful election campaign including its housing policy was designed to just be a little better than Scott Morrison’s – a low bar.

The New Daily

Bad news, Tesla bulls: Elon Musk plans to keep running Twitter for the rest of this year

The billionaire entrepreneur said it’s unlikely he’ll be able to choose a suitable successor to run the ailing social media platform until the end of 2023.

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

Akshata Murty held shares in collapsed firm that had near £300k ‘Sunak’ taxpayer loan

Employees and Lloyds Bank among creditors, after liquidation of firm that benefited from pandemic aid devised by Murty’s spouse, Sunak

The Guardian - UK

Drone company sends Liberal drone to Ukraine

Liberal Senator David Van travelled to Ukraine in August last year on a drone company’s dollar and despite ‘do not travel’ advice, and NT Senator Jacinta Nampijinpa Price goes it alone on a new No campaign for the Voice.

Crikey

Taxpayer takes stakes in two Scottish scale-ups

After recent funding rounds, government loans have been converted to equity holdings

Insider UK

British taxpayers get stake in psychedelic medicine, whisky and footballers’ investor

Government’s Future Fund rescue capital, set up amid Covid pandemic, backs a further 53 firms

The Guardian - UK

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UK taxpayer stakes revealed in companies that recently raised over £12m

Also included in the updated list is Steama Company and The Lakes Distillery Company

Birmingham Post

Future Fund a 'beginner' on climate risks

Australian taxpayers have a lot to lose if their sovereign fund continues to lag behind international counterparts on climate risk, independent research warns.

AAP

What fossils are to be found amid the fog of the Future Fund?

Good luck finding out what the Future Fund has invested in. Its level of transparency is poor compared to other sovereign wealth funds and corporate investors.

Crikey

Michael Hiltzik: How Sam Bankman-Fried exploited the 'effective altruism' fad to get rich and con the world

The most uplifting aspect of the Sam Bankman-Fried story was always that he guided his way to a putative cryptocurrency fortune of more than $16 billion by following a philosophy of charitable giving known as "effective altruism."

Los Angeles Times

Power-hungry robots, space colonization, cyborgs: inside the bizarre world of ‘longtermism’

Sam Bankman-Fried said his billions would save the world – but his philanthropic ideas ranged from the worthy to the severely outlandish

The Guardian - US

Why the collapse of Sam Bankman-Fried's FTX has split A.I. researchers

The close ties between A.I. and the 'Effective Altruism' movement that Bankman-Fried belonged to, are now in the spotlight.

Fortune

Is the collapse of Bankman-Fried's FTX crypto empire the end of Effective Altruism?

The one-time billionaire was closely associated with Effective Altruism. Now some fear for the movement's future.

Fortune

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The Independent UK

FTX bankruptcy also endangers founder's philanthropic gifts

The rapid collapse of cryptocurrency exchange FTX into bankruptcy last week has also shaken the world of philanthropy, due to the donations and influence of FTX founder Sam Bankman-Fried in the “effective altruism” movement

ABC News

Australia's sovereign wealth fund still holds $200 million in Russian investments despite war in Ukraine

Earlier this year the Future Fund announced it would divest its holdings in companies listed on the Russian Stock Exchange but on the same day, the Central Bank of Russia banned brokers from executing sales on behalf of non-Russian residents.

Crikey

James Packer does his own spin-doctoring — but he needs to join Twitter

The billionaire is weighing in on all sorts of issues, but if he wants his message out there he should consider learning how to tweet.

WEKU

How can we help humans thrive trillions of years from now? This philosopher has a plan

William MacAskill's book, What We Owe the Future, urges today's humans to protect future humans — an idea he calls longtermism. Here are a few of his hardly modest proposals.

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news in one place.

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Crikey

James Packer ruins Peter Costello’s birthday bash with allegations about ‘secret $300k lobbying’

It has been claimed by James Packer that Peter Costello was secretly paid $300,000 by him or on his behalf to lobby Victoria’s gaming minister, and seemingly failed to deliver.

Crikey

Adviser or lobbyist? Costello’s future hangs on what he did for Packer

What’s the difference between a consultant and a lobbyist? For Peter Costello and James Packer, a world of difference.

Birmingham Post

The 28 North West companies that are part-owned by the UK Government

The Future Fund was launched on May 20, 2020

Birmingham Post

The Welsh firms in which the UK Government has ownership stakes

The firms has converted debt to equity under the Westminster government's Future Fund

The Guardian - UK

Covid loans make UK taxpayers shareholders in cannabis oil firm

Future Fund scheme granted loans to eclectic range of companies, list from British Business Bank shows

Benzinga

Do Institutional Investors Love Tesla? Gary Black Weighs In

Tesla, Inc. (NASDAQ: TSLA) may not be a hit with institutional investors, noted bull and Future Fund founder Gary Black said, citing Bloomberg data. Tesla stock is under-owned by institutions, the fund manager said.

The Guardian - UK

British taxpayers take stake in sex party planning firm Killing Kittens

Company given support from fund set up by government to provide loans to startups during pandemic

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