The first portrait of the Archbishop of Canterbury, Justin Welby, has gone on display at Auckland Castle in County Durham. It was painted by the artist Roger Wagner.
It continues a tradition, dating back to the 15th century, of paintings of previous Bishops of Durham being hung at the Castle. It will go on display in the throne room.
The Archbishop of Canterbury, Justin Welby, has spoken of his embarrassment that links between the Church of England and pay-day lender Wonga have revealed.
The former Bishop of Durham had yesterday promised to take on lenders like the Newcastle United sponsor.
He said he would compete it out of business by promoting credit unions as an alternative to pay day lenders.
The Archbishop said he was irritated and embarrassed after it emerged that the Church of England indirectly invested in the payday lender.
The Archbishop of Canterbury has told ITV News the church will conduct a review following revelations the church's pension fund indirectly invested in payday lender Wonga:
The Archbishop of Canterbury has spoken on BBC Radio 4's Today programme of his "embarrassment" after it was discovered the Church of England's pension fund had indirectly invested in payday lender Wonga.
It comes a day after the Most Reverend Justin Welby told Wonga the church wants to "compete it out of existence" by supporting credit unions:
Talking about the revelation that the church's pension fund had invested in payday lender Wonga, the Most Reverend Justin Welby has said the business is "incredibly complex" and explained of a £5.5bn portfolio, £75,000 was invested indirectly in Wonga without his knowledge.
Speaking on BBC Radio 4 Today's programme, he said: "It shouldn't have happened, it's very embarrassing but these things happen and we have to find out why."
The Archbishop of Canterbury has admitted he is embarrassed by the revelations that the Church of England pension funds indirectly funded in online lender Wonga.
Asked by John Humphrys on BBC Radio 4 Today's programme whether he was embarrassed, he replied "yes."
Asked to place his embarrassment on a scale of one to 10, he said: "Eight."
After a national newspaper revealed the Church of England has links to pay-day lender Wonga, Lambeth Palace has responded. This follows the Archbishop of Canterbury's promise to take on pay-day lenders like Wonga.
The Church of England has called for an investigation into its own pension fund after The Financial Times revealed it had links to pay-day lender Wonga. It comes as the Archbishop of Canterbury, and former Bishop of Durham, Most Rev Justin Welby, said he wants to take on pay-day lenders.
The Archbishop of Canterbury is reported to "furious" by the BBC after it was revealed that the Church of England pension fund invests in one of Wonga’s key financial backers.
The Most Reverend Justin Welby yesterday launched an attack on the payday loan company saying he wants to "compete it out of existence" by supporting credit unions.
The Church has now launched an investigation into how it has come to invest in the company.