Billionaire philanthropist Peter Cruddas gave away over £840,000 through his charitable foundation this year, down from £1.2m in 2011.
Since the CMC Markets boss set up The Peter Cruddas Foundation in 2006, the benefactor has given almost £12m to good causes, accounts filed at Companies House show.
“Trustees are extremely proud of the foundation’s donations,” said Cruddas and board members Martin Paisner, of Berwin Leighton Paisner, and Young Associates chairman Lord Young of Graffham.
Grants over the year to March 31 include £10,000 for hedge fund financier Arpad Busson’s Absolute Return for Kids, £100,000 for Phones 4U founder John Caudwell’s Caudwell Trust, and £105,000 for the Royal Opera House Foundation. The Covent Garden institution returned the favour — it elected Mr Cruddas to its board of trustees this year.
Elsewhere in the accounts, Diary notes that Mr Cruddas, the former Tory party treasurer who resigned in March over the cash-for-access outcry, has withdrawn the foundation’s £1m deposit held by the Treasury. Quite a change of heart — as recently as 2010, the trust’s deposits with the exchequer stood at £3.25m.
= Full of festive energy =
It's been quite a year for Angela Knight — resigning as chief of the British Bankers’ Association post-Libor scandal before joining Energy UK to fend off fuel price-fixing allegations.
Lesser mortals would be preparing for a lengthy festive lie-down at this point. But not Ms Knight, who is made of sterner stuff. Here follows her jolly, self-penned Christmas greeting, sent to contacts in an energy-efficient manner by email.
“The Energy Bill was published in time for Christmas Day. It sets the scene for nuclear, for gas it charts the way. Renewables and biomass both have their part to play. So it’s a Happy Christmas to you all from Energy UK.” A fracking merry Christmas to you too.
= Ahmad scores at Rangers =
Rangers Football Club is back in the game, after yesterday’s listing on Aim at 70p per share. The headline fundraising for the float is £22.2m, which the club’s new chief executive, Charles Green, says will bring Rangers “back to its glory days”.
But a more interesting figure, in Diary’s opinion, is the £50,000 arrangement fee paid by Rangers Football Club Limited to director Imran Ahmad “relating to” his £200,000 cash injection for the club in May.
Mr Ahmad’s loan was repaid as a mixture of cash and shares in August, taking the Allenby Capital founder’s stake in the revitalised football club to 6.6pc. Not a bad return for three months’ work.
What to give the banker who has everything (except a bonus)? Market Meltdown, the boardgame designed by ex-City boy Will Sorrell that lets players simulate the “casino randomness” of the financial markets, could be just the thing.
The game is even endorsed by Bob Geldof, who says: “Two rounds of the game and you’d be qualified to run Barclays (LSE: BARC.L - news) or RBS (LSE: RBS.L - news) . Let’s face it, you couldn’t do any worse.”
= Myners must keep digging =
Here's Lord Myners asking the question everyone is thinking: will the Government make “further equity investments” in state-supported Lloyds and RBS? “And, if so,” continued the dogged former City minister in the House of Lords, “have they advised the Bank of England’s Financial Policy Committee accordingly?”
“Lloyds Banking Group (LSE: LLOY.L - news) and RBS have made no proposals for equity increases,” stalled the Treasury’s Lord Sassoon. “The Government’s position remains to sell the stakes in [the banks] when it represents value for money to do so.” In other words, Lord Myners, don’t hold your breath.
Oh dear. Diary spoke too soon about the pleasing absence of any Gangnam-style moves in the Christmas song by Eddie Stobart employees, as reported on Tuesday.
Apprentices at Stobart-owned Southend Airport have already choreographed their own version of the Gangnam routine. It’s ATC Lasham-style, named after the company that runs their training scheme, and involves a lot of dancing beside — and within — a G-BMKD aircraft. Where will it all end?