Sunaks wife - Infosys Alarm

I got a very quick ticking off from Facebook for mentioning the connection to Sunaks wife. False news and you will be struck off etc etc. (Fair enough and I respect that). Which is fair enough except for the fact that I often report things that I feel are racist or misogynistic to Facebook and they just tell me that they do not think it needs removing and just tells me to block it.

Is it a policy to ask for three quotes - and then choose the cheapest even if it ends up costing more in the long term because the detail was not properly worked out and there are consequent problems?

Isn't her father involved in the Rwanda thing? I vaguely remember he was paid several tens of millions for land he owned for use to house our refugees that are deemed "illegal" .Cant provide links as I cant remember where I saw it.

HousePlantQueen

Irrespective of any rumours of sub contracting to Infosys, I am angered that Fujitsu are undertaking any government work after their disgraceful performance with the Horizon accounting system which ruined the lives and reputation of hundreds of sub post masters. There seems to be no consequence for wrong doing in this country

Yes, it was Fujitsu, wasn't it!

Incredulous that they should be given a government contract when the faults in their system, which they knew about, were the cause of so much utter misery.

The Lords have questioned the awarding of the warning system contract to Fujitsu.

MaizieD

Norah

MaizieD From which, if my rough calculations are anywhere near right, she stands to make £6million + in dividend this year.

I didn't do annual dividend calculations, surely Akshata Murty should earn dividends on her quite small investment without criticism?

you're taking this out of context, Norah. It was a specific response to volver. It was no criticism of Akshata Murty.

Though I don't think I'd describe an investment that attracts that amount of dividend as 'small'

OK. Small ownership of overall company stock. NBD.

It's on Full Fact
.
No truth whatsoever

Twitter isn't the best source of news

Norah

MaizieD From which, if my rough calculations are anywhere near right, she stands to make £6million + in dividend this year.

I didn't do annual dividend calculations, surely Akshata Murty should earn dividends on her quite small investment without criticism?

you're taking this out of context, Norah. It was a specific response to volver. It was no criticism of Akshata Murty.

Though I don't think I'd describe an investment that attracts that amount of dividend as 'small'

Irrespective of any rumours of sub contracting to Infosys, I am angered that Fujitsu are undertaking any government work after their disgraceful performance with the Horizon accounting system which ruined the lives and reputation of hundreds of sub post masters. There seems to be no consequence for wrong doing in this country

Yes, she must do, it's not like a pension fund or an ISA which we should check but in all probability may not.

Ah, too much agreement here, let me throw a spanner in the works...

I'm sure Mrs Sunak knows about her funds and where they are invested, and I'm sure she has earnt dividends from them. However as far as I can see, Infosys partnered with Fujitsu 20 years ago. Even if they were involved in this trial, so what? Businesses get involved in all sorts of things that are within their areas of expertise.

I read this morning that an emergency alarm system was in the labour manifesto too.

GrannyGravy13

Blimey once again I find myself agreeing with you volver3

There is absolutely no guarantee that you will make money on shares, it’s basically gambling by another name.

Crikey, me too!

This is very worrying.

Many of us have shares in so many companies through our pension funds, ISAs etc and I wonder how any of us check them out thoroughly? We could check to make sure we're not investing in arms companies, but it's a gamble in more ways than one.

MaizieD From which, if my rough calculations are anywhere near right, she stands to make £6million + in dividend this year.

I didn't do annual dividend calculations, surely Akshata Murty should earn dividends on her quite small investment without criticism?

Oh yes they would be that stupid. It was recently revealed that Sunak's wife has shares in a childcare company which will benefit from new legislation. Sunak should have declared an interest in the company, but didn't. I've forgotten what his excuse was, but it was fairly pathetic. Until there was coverage in the press, Sunak's wife was domiciled in India for tax purposes. That's not illegal, but not a good look for a PM's wife, when the country is suffering a cost of living crisis and he's pledged to clean up the government's sleaze.

It's public knowledge that Mrs Sunak's father founded Infosys and is a billionaire. He sold the company some years ago, but he and Mrs Sunak still have some shares which provide dividends.

Nevertheless, I still haven't seen any reliable source showing that Infosys has any involvement in the government contract for the alarms we experienced yesterday. If there is evidence and especially if they're now covering up, it would be explosive BUT I haven't seen proof. If it's there, it wouldn't surprise me if the scandal would be big enough to bring down the government BUT ...

nanna8

Would they be so stupid as to risk his position in the way ? I doubt it.

It seems outrageous, nanna, I agree. But this lot really do seem to think that they are above the law, and that the electorate will fall for whatever they are told.

Would they be so stupid as to risk his position in the way ? I doubt it.

volver3

MaizieD

Even if she had share in a company that was involved with the alarm, why do we think that this would make her money?

You should know the answer to that, volver, being a shareholder yourself.

The answer is 'dividend'. Profits distributed to shareholders after taxation.
Maybe the companies you have shares in don't make much profit, but that cannot be said of infosys. According to this website, Sunak's wife stands to earn a considerable sum on her shareholding (a 'crore' = 10million if people want to do the sums). It also says that she holds 1.07% of infosys shares.

Not all shares and companies pay dividends. Even the profitable ones.

Did you know that?

I do indeed know that, volver.

Now look at the question you asked in the context of her share in infosys.
(From which, if my rough calculations are anywhere near right, she stands to make £6million + in dividend this year...)

MaizieD

^Even if she had share in a company that was involved with the alarm, why do we think that this would make her money?^

You should know the answer to that, volver, being a shareholder yourself.

The answer is 'dividend'. Profits distributed to shareholders after taxation.
Maybe the companies you have shares in don't make much profit, but that cannot be said of infosys. According to this website, Sunak's wife stands to earn a considerable sum on her shareholding (a 'crore' = 10million if people want to do the sums). It also says that she holds 1.07% of infosys shares.

Not all shares and companies pay dividends. Even the profitable ones.

Did you know that?

I am even more concerned that the initial contract was awarded to Fujitsu before they subbed it out. Infosy’s are the key company in setting up these alarms so no real surprise there.

As Lord Arbuthnot of Enron, a Conservative incidentally, has pointed out “ Fujitsu should not be awarded any contract after the Horizon system caused the sub-postmasters of this country to be shamefully accused of things they had not done.” He argues Fujitsu should have been taken off the procurement list and I am inclined to agree with him.

It is a problem that the PM's wife (and probably the PM himself) has interests in such a broad range of sectors and companies.

I'm not sure what the answer is, as of course someone with her level of wealth will spread their portfolio, and if one of her investments is in the best company to do a job, then it would be madness to insist that the business went elsewhere. OTOH, there will always be a suspicion that potential profits for her have influenced high level decisions, and that is a problem, both for the Sunaks themselves and for the rest of us, as we should be confident that public money is spent with the best motives in mind.

A much more open and transparent system of accountability would go some way to solving those problems, I think.

GrannyGravy13

Blimey once again I find myself agreeing with you volver3

There is absolutely no guarantee that you will make money on shares, it’s basically gambling by another name.

I don't think you can go wrong with infosys, GG13. See my previous post...

What is intriguing me is, are large company's eyewatering profits caused by the cumulative effect of low profit margins on millions/billions of transactions, or are they just caused by profiteering?

Even if she had share in a company that was involved with the alarm, why do we think that this would make her money?

You should know the answer to that, volver, being a shareholder yourself.

The answer is 'dividend'. Profits distributed to shareholders after taxation.
Maybe the companies you have shares in don't make much profit, but that cannot be said of infosys. According to this website, Sunak's wife stands to earn a considerable sum on her shareholding (a 'crore' = 10million if people want to do the sums). It also says that she holds 1.07% of infosys shares.

She no doubt has a broker who sorts this for her, can't really see her pondering over the FT what to buy or sell.
Not an issue.

This can't go on GG13

Blimey once again I find myself agreeing with you volver3

There is absolutely no guarantee that you will make money on shares, it’s basically gambling by another name.

I just had a thought...

I have shares in a couple of companies. I don't make money when they take part in tests, in fact their value has plummeted recently although they are busy as ever.

Even if she had share in a company that was involved with the alarm, why do we think that this would make her money?

(Incidentally I don't have untold wealth as a result of those shares. If I traded them in just now, I might manage to buy a new winter coat.)