by Jasper Jolly on (#55B35)
Investment with India made in US firm OneWeb after Brexit locks UK out of Europe’s satellite navigation systemThe UK government has pledged to invest $500m (£400m) in bankrupt satellite company OneWeb, giving it a stake in a business that provides broadband from space.The government, which has proven so far unwilling to take stakes in major British companies hit by the coronavirus pandemic, will receive a “significant equity share” in the loss-making company as it seeks to make “high-risk, high-payoff” investments of the kind advocated by 10 Downing Street adviser Dominic Cummings. Continue reading...