Latest news with #TCI
&w=3840&q=100)
First Post
5 days ago
- Business
- First Post
Rishi Sunak returns to the company where he worked as a summer intern, now senior adviser
Former UK Prime Minister Rishi Sunak is returning to Goldman Sachs as a senior adviser, years after working at the investment bank as a summer intern and junior analyst from 2001 to 2004 read more Former British Prime Minister Rishi Sunak at Westminster Abbey in London, Britain. Reuters/File Photo Former UK Prime Minister Rishi Sunak is returning to Goldman Sachs as a senior adviser, years after working at the investment bank as a summer intern and junior analyst from 2001 to 2004. Following his stint at Goldman Sachs, he joined billionaire Chris Hohn's hedge fund TCI, and later moved to its spinoff, Theleme Partners. His new role was announced by Goldman Sachs CEO David Solomon on Tuesday. 'I am excited to welcome Rishi back to Goldman Sachs in his new capacity as a senior adviser,' MoneyControl quoted Solomon as saying in a statement. STORY CONTINUES BELOW THIS AD 'He will also spend time with our people around the world, contributing to our culture of ongoing learning and development,' he added. The former PM will advise clients on geopolitical and economic issues. This marks Rishi Sunak's first major professional step since resigning as Conservative Party leader after Labour's landslide win in the July 2024 general election. The MP for Richmond and Northallerton has largely kept a low profile since, though earlier this year he took on academic roles at both Oxford and Stanford universities. He has confirmed he will continue serving in Parliament from the backbenches for the rest of the term. Notably, Sunak will donate his earnings from Goldman Sachs to the Richmond Project, a charity he and his wife launched to improve numeracy skills in the UK. With inputs from agencies
Yahoo
5 days ago
- Business
- Yahoo
Rishi Sunak returns to Wall Street bank he joined as intern
Rishi Sunak has joined Goldman Sachs as a senior adviser in his first major role outside of politics since losing last year's election. The former prime minister, who was trounced by Sir Keir Starmer's Labour, will join the American banking giant in a part-time role that will involve advising Goldman Sachs' clients and representing the company at events. Goldman Sachs approached Mr Sunak about taking up the role after last year's election. The MP for Richmond and Northallerton worked at the bank after leaving Oxford University in the early 2000s, first as a summer intern and then as a low-ranking analyst. David Solomon, Goldman Sachs chief executive, said he was 'excited to welcome Rishi back to Goldman Sachs'. 'In his role, he will work with leaders across the firm to advise our clients globally on a range of important topics, sharing his unique perspectives and insights on the macroeconomic and geopolitical landscape,' he said. Mr Sunak is likely to earn a significant sum. His pay will be donated to his charity, the Richmond Project. Goldman Sachs was asked to confirm his pay. The Advisory Committee on Business Appointments (Abcoba), which vets MP jobs outside politics, has approved the move but with conditions. Under the Acoba restrictions, he is banned from personally lobbying the UK Government until July 2026 and cannot offer any advice that draws on his time as prime minister. 'The advice will not be UK-centric but focused on global issues. In doing so, you will attend meetings, conferences, speaker events and roundtables. You will have no contact with the UK Government in this role,' it said. The committee noted that Mr Sunak said his past career in finance and his previous time at Goldman Sachs meant the job was a 'natural fit'. Before entering parliament, Mr Sunak worked as a key lieutenant of Sir Chris Hohn, the hedge fund boss behind The Children's Investment Fund Management (TCI). His time at TCI was marked by a number of activist campaigns, where shareholders agitate often aggressively for changes at a company. He reportedly took part in an activist campaign against US railroad company CSX, demanding the company change its board of directors. The appointment follows speculation that Mr Sunak could quit Britain altogether after losing last year's election and move to the US to pursue a lucrative career in technology or banking. He and his family already have a home in California, where Mr Sunak studied and met his wife. Mr Sunak joked about the rumours last November, telling the House of Commons: 'I am happy to confirm reports that I will now be spending more time in the greatest place on earth, where the scenery is worthy of a movie set and everyone is a character. That's right, Mr Speaker, if anyone needs me, I will be in Yorkshire.' Goldman Sachs is well-known for it close political connections, mainly in the US. Donald Trump hired three former Goldman bankers, Gary Cohn, Steven Mnuchin and Steve Bannon, during his first term. Hank Paulson, a former Goldman chief executive, was the US treasury secretary during the financial crisis. Mr Sunak joins a long list of former Westminster politicians who have turned to investment banking after stepping back from frontline politics. Lord Hague, the former Tory leader, was hired by Citigroup in 2017 as a senior adviser, while Lord Mandelson was also a senior adviser to Lazard after Labour lost power in 2010. Sir Tony Blair went one step further and starting doing M&A work on his own, advising on the £73bn mega merger between Glencore and Xstrata in 2012. George Osborne, the former chancellor, is a partner at boutique investment bank Robey Warshaw. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Standard
05-07-2025
- Business
- Business Standard
Texmaco Rail secures Rs 36-cr wagon order from TCI
Texmaco Rail & Engineering announced that it has received an order worth Rs 36.27 crore from Transport Corporation of India (TCI) for the supply of two rakes, comprising 54 ACT-3 type wagons and two BVCM wagons. The total contract value stands at Rs 36.27 crore and the order is scheduled to be executed within 24 months. Texmaco Rail & Engineering is a diversified heavy engineering company, with products including railway freight wagons, hydro-mechanical equipment and industrial structures for infrastructure industry, locomotive components and locomotive shells, railway bridges, steel castings, pressure vessels, etc. The company has reported a 13.5% decline in consolidated net profit to Rs 39 crore despite a 17.6% rise in revenue from operations to Rs 1,346 crore in Q4 FY25 as compared with Q4 FY24.
Business Insider
05-07-2025
- Business
- Business Insider
Chris Hohn's TCI Crushes Market with 21% Return
Sir Chris Hohn's The Children's Investment (TCI) Fund has notched a spectacular year with a 21% gain, tripling the S&P 500's comparative return. The activist investor utilizes an extremely concentrated portfolio and held just 10 positions in his last 13F portfolio update. TCI has an average holding period of 23.3 quarters, or about 5.8 years, according to WhaleWisdom. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. TCI's largest position, GE Aerospace (GE), accounts for 22% of its portfolio and has returned 47% year-to-date. Its second-largest position, Microsoft (MSFT), has a 15% allocation and has returned 19% this year. These two companies were the only stocks that TCI bought during the first quarter. What Stocks Does TCI Own? TCI also has significant positions in financial firms Moody's (MCO), Visa (V), and S&P Global (SPGI). Additionally, TCI sees upside in railroad companies Canadian Pacific Kansas City (CP) and Canadian National Railway (CNI). CP has an 8.91% weight while CNI comes in at 5.84%. At the same time, not all of the hedge fund's stocks are winners, as it owns both classes of Google (GOOG) (GOOGL), which are down by about 5% YTD. Head over to TipRanks' TCI Portfolio Page for more information on Chris Hohn and TCI.
Yahoo
10-06-2025
- Automotive
- Yahoo
1971 Chevrolet C10 Short Bed Blends Classic Style with Modern Muscle
⚡️ Read the full article on Motorious A meticulously built 1971 Chevrolet C10 Short Bed is drawing attention for its combination of vintage pickup charm and high-performance upgrades. Painted in deep black and riding on polished 20-inch US Mag chrome wheels, this classic truck has been transformed into a bold, street-ready performer while retaining its unmistakable American roots. At the heart of the build is a robust 350-cubic-inch small-block V8 engine. Built for performance and longevity, the engine features performance cylinder heads with roller rockers and a roller camshaft, enhancing airflow and valve response. The setup is paired with an MSD ignition system to ensure reliable spark and consistent combustion, all working in harmony to deliver strong, smooth power across the rev range. Backing the engine is a built TCI TH350 three-speed automatic transmission, engineered for crisp and responsive gear changes under load. This powertrain combination delivers not only strong street performance but also the kind of dependability that makes this truck as roadworthy as it is eye-catching. An upgraded Flowmaster exhaust system adds to the experience with its signature deep rumble, giving the truck a commanding voice on the road. For ease of handling, especially in tight spaces or low-speed cruising, a power steering gearbox has been fitted, improving drivability without sacrificing the truck's classic feel. The truck's aesthetics are just as carefully considered. The black paint gives it a sleek, aggressive look, while the chrome wheels and subtle touches of modern flair bridge the gap between classic pickup and contemporary street machine. This 1971 Chevrolet C10 Short Bed represents a successful blend of form and function. Built to last and built to drive, it offers enthusiasts a chance to own a classic American icon that's been thoughtfully updated for today's roads.
