TIMES.KY

Cayman Islands, Caribbeanand International News
Tuesday, Apr 23, 2024

Sunak Wife Infosys company to finally shut Moscow office as pressure grows on Rishi Sunak’s double standards

Sunak Wife Infosys company to finally shut Moscow office as pressure grows on Rishi Sunak’s double standards

Chancellor’s wife, Akshata Murthy, has £690m stake in Indian IT firm, which is now finally moving staff out of Russia, only after pressure grows on Rishi Sunak double standards.
Indian IT services company Infosys, in which the chancellor Rishi Sunak’s wife owns an estimated £690m stake and collects about £11.5m in annual dividends, is “urgently” closing its office in Russia.

Infosys’s decision to shut its Moscow office comes as pressure mounts on Sunak to answer accusations that his family is collecting “blood money” dividends from the firm’s continued operation in Russia despite the invasion of Ukraine.

A source at Infosys told the Guardian that the company was “in the process of urgently closing down its Russian operation” and “relocating staff to other countries”.

An Infosys spokesperson declined to comment, and would not be drawn on whether the decision to close the Russian office was linked to the political pressure on Sunak.

Sir Keir Starmer, the Labour leader, earlier on Friday called on the chancellor to reveal whether his family had been “benefiting from money made in Russia when the government has put in place sanctions” on firms and individuals following Vladimir Putin’s invasion of Ukraine.

Sunak, who has repeatedly called on British companies to pull out of Russia in order to “inflict maximum economic pain” on Putin’s regime, had refused to comment on his wife Akshata Murthy’s 0.91% stake in Infosys.

Speaking to the BBC’s Newscast after a challenging week in which his spring statement met with heavy criticism, he said it was “very upsetting and … wrong for people to try and come at my wife”.

Sunak drew parallels with Will Smith, who hit the comedian Chris Rock at the Oscars on Sunday after a joke about his wife, Jada Pinkett Smith, as well as the beleaguered England cricket captain, Joe Root.

The chancellor quipped: “Someone said, ‘Joe Root, Will Smith, and me – not the best of weekends for any of us.’ But I feel, on reflection, both Will Smith and me having our wives attacked – at least I didn’t get up and slap anybody, which is good.”

Murthy, who keeps a low public profile, is the daughter of the billionaire founder of Indian tech giant Infosys. According to its latest annual report, Murthy holds a stake in the firm worth approximately £690m, which is estimated to have yielded £11.5m in dividend payments over the past year.

Labour and the Liberal Democrats have criticised Sunak over his wife’s investment in the firm, with the shadow transport secretary, Louise Haigh, calling it “really quite shocking”.

Asked about such comments, Sunak said: “You know, I think it’s totally fine for people to take shots at me. It’s fair game … [But] it’s very upsetting and, I think, wrong for people to try and come at my wife.”

He also defended his father-in-law, the Infosys founder NR Narayana Murthy, saying he had “nothing but enormous pride and admiration for everything that he’s achieved, and no amount of attempted smearing is going to make me change that because he’s wonderful and has achieved a huge amount. As I said, I’m enormously proud of him.”

While the UK government has ratcheted up sanctions on hundreds of Russian businesspeople and politicians close to Putin’s regime, the Indian government has been more ambivalent in its attitude to the invasion.

Infosys had continued to operate in Russia despite most big global IT and consultancy firms such as Accenture, KPMG, McKinsey, Oracle, PwC and SAP all closing their Russian operations.

Earlier this week, Infosys said it had “a small team of employees based out of Russia, that services some of our global clients, locally”. “We do not have any active business relationships with local Russian enterprises,” the company said, adding that it had committed $1m (£760,000) to help the victims of the war.

The ministerial code says that ministers must declare any financial interests that could give rise to a conflict, including those of their spouse and close family. A spokesperson for the chancellor has said Murthy and her family members did not “have any involvement in the operational decisions of the company”.
Newsletter

Related Articles

TIMES.KY
0:00
0:00
Close
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Italian Court's Controversial Ruling on Sexual Harassment Ignites Uproar
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
BBC Personalities Rebuke Accusations Amidst Scandal Involving Teen Exploitation
A Swift Disappointment: Why Is Taylor Swift Bypassing Canada on Her Global Tour?
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
Unilever Plummets in a $2.5 Billion Free Fall, to begin with: A Reckoning for Misuse of Corporate Power Against National Interest
Beyond the Blame Game: The Need for Nuanced Perspectives on America's Complex Reality
Twitter Targets Meta: A Tangle of Trade Secrets and Copycat Culture
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
×