Business
Rishi Sunak takes advisory roles with Microsoft and AI firm Anthropic
Rishi Sunak has taken up advisory roles at tech giant Microsoft and artificial intelligence start-up Anthropic.
The former prime minister – who remains the MP for Richmond and Northallerton – said he was “delighted” to be working “with two of the world’s leading tech firms” and planned to donate his earnings to a charity he founded.
Sunak has been told he must not lobby ministers on behalf of the companies by the Advisory Committee on Business Appointments (Acoba), an independent watchdog which oversees the activities of former government figures.
During his premiership he made tech regulation a significant priority, setting up an AI safety summit in 2023.
In letters of advice sent to Sunak by Acoba and published on Thursday, his part-time role at Microsoft was described as providing “high- level strategic perspectives” on geopolitical trends.
The watchdog said it had been informed by Sunak that his part-time advisory role at Anthropic – an AI firm seeking to compete with companies like OpenAI, Google and Meta – would be “akin to operating as an internal think tank”.
Acoba said Anthropic “has a significant interest in UK government policy”, meaning that Sunak’s appointment could potentially be seen to offer “unfair access and influence” within government.
The appointment with Microsoft, a “major investor” in the UK, also presented similar issues, it wrote.
However, it also said that his time spent out of government would have reduced the value of any information Sunak may still possess, while reiterating the standing rules ex-ministers have to abide when seeking employment after leaving government.
Sunak was told not to advise on bidding for UK contracts, or to lobby the government for two years from his last day in ministerial office.
In addition to the two tech roles, it was previously confirmed Sunak will act as a paid advisor to the bank Goldman Sachs, where he previously worked between 2001 and 2004.
There had been speculation that Sunak, who was in No 10 between October 2022 and July 2024, would leave the Commons to take up a Silicon Valley role shortly after the election.
He previously lived in California, where he still has a home, and held a US visa until 2021.
But in his final prime minister’s questions, Sunak vowed to spend more time in his constituency, which he called “the greatest place on Earth”.
“If anyone needs me, I will be in Yorkshire,” he said.
All proceeds from the new roles will be donated to The Richmond Project, a charity Sunak founded with his wife to tackle numeracy problems in the UK, another area he was vocal about while in Downing Street.
Posting on social media, Sunak said he would use his roles to “ensure” that coming technological change “delivers the improvements in all of our lives”.
Sunak said: “I have long believed that technology will transform our world and play a key part in determining our future.
“We stand on the edge of a technological revolution whose impacts will be as profound as those of the industrial revolution: and felt more quickly.”
The Oil and Gas Regulatory Authority (OGRA) has approved a fresh increase in the price of liquefied petroleum gas (LPG), raising the cost for both domestic consumers and commercial users.
According to the notification issued, the LPG price has been increased by Rs7.39 per kilogram, setting the new rate at Rs209 per kg for December. As a result, the price of a domestic LPG cylinder has risen by Rs87.21, bringing the new price to Rs2,466.10.
In November, the price of LPG stood at Rs201 per kg, while the domestic cylinder was priced at Rs2,378.89.
The latest price hike is expected to put additional pressure on households already grappling with rising living costs nationwide.
Business
Private sector data: Over 2 lakh private companies closed in 5 years; govt flags monitoring for suspicious cases – The Times of India
NEW DELHI: The government on Monday said that over the past five years, more than two lakh private companies have been closed in India.According to data provided by Minister of State for Corporate Affairs Harsh Malhotra in a written reply to the Lok Sabha, a total of 2,04,268 private companies were shut down between 2020-21 and 2024-25 due to amalgamation, conversion, dissolution or being struck off from official records under the Companies Act, 2013.Regarding the rehabilitation of employees from these closed companies, the minister said there is currently no proposal before the government, as reported by PTI. In the same period, 1,85,350 companies were officially removed from government records, including 8,648 entities struck off till July 16 this fiscal year. Companies can be removed from records if they are inactive for long periods or voluntarily after fulfilling regulatory requirements.On queries about shell companies and their potential use in money laundering, Malhotra highlighted that the term “shell company” is not defined under the Companies Act, 2013. However, he added that whenever suspicious instances are reported, they are shared with other government agencies such as the Enforcement Directorate and the Income Tax Department for monitoring.A major push to remove inactive companies took place in 2022-23, when 82,125 companies were struck off during a strike-off drive by the corporate affairs ministry.The minister also highlighted the government’s broader policy to simplify and rationalize the tax system. “It is the stated policy of the government to gradually phase out exemptions and deductions while rationalising tax rates to create a simple, transparent, and equitable tax regime,” he said. He added that several reforms have been undertaken to promote investment and ease of doing business, including substantial reductions in corporate tax rates for existing and new domestic companies.
Pakistan’s textile exports surged to $6.4 billion during the first four months of the 2025-26 fiscal year, marking the highest trade volume for the sector in this period.
According to the Pakistan Bureau of Statistics (PBS), value-added textile sectors were key contributors to the growth.
Knitwear exports reached $1.9 billion, while ready-made garments contributed $1.4 billion.
Significant increases were observed across several commodities: cotton yarn exports rose 7.74% to $238.9 million, and raw cotton exports jumped 100%, reaching $2.6 million from zero exports the previous year.
Other notable gains included tents, canvas, and tarpaulins, up 32.34% to $53.48 million, while ready-made garments increased 5.11% to $1.43 billion.
Exports of made-up textile articles, excluding towels and bedwear, rose 4.17%, totaling $274.75 million.
The report also mentioned that the growth in textile exports is a result of improved global demand and stability in the value of the Pakistani rupee.
UK budget mildly deflationary; debt to climb past 106%: Fitch
OGRA Announces LPG Price Increase for December – SUCH TV
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