Council: 'Our pension fund invests in harmful companies'

Newcastle City Council says that its pension fund does invest in the payday loan company Wonga, but it has no control over it.

It added that the council has voiced its dislike that the pension fund invests in companies which it believes 'harms the city'.

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Council's Wonga shares

Newcastle City Council admits its pension fund has shares in Wonga, despite the council's vociferous criticism of the company.