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UK railway pension fund investing millions in music

UK railway pension fund investing millions in music

Finance
Of the many alternative investments outside stocks and bonds that pension funds can buy, a few are putting retirement money into music copyrights.RPMI Railpen, the manager of one of the largest and oldest UK pension funds, is leading a $ 345 million investment in a fund rolled out Monday by Kobalt Capital, the subsidiary of music royalties collection and technology company Kobalt."With low expected returns from many traditional asset classes, we are prepared to allocate in alternative investments that can help us to pay members' pensions well into the future," Craig Heron, deputy investment director, RPMI Railpen, told CNBC this week in an email. Through the fund, Railpen buys music copyrights and receives royalties collected by Kobalt."This is an innovative investment opportunity that off...
Mumbai railway station stampede kills 22 amid heavy rain

Mumbai railway station stampede kills 22 amid heavy rain

World
Media playback is unsupported on your deviceA stampede at a Mumbai railway station during the morning rush hour has left 22 people dead and injured about 30, Indian officials report.The incident at Elphinstone station, which connects two of the city's major local lines, was triggered by overcrowding and heavy rain, they said.The injured have been taken to a nearby hospital and senior railway officials are at the scene.The stampede was on a footbridge leading to the station.Railway spokesman Anil Saxena told reporters the covered bridge had been busy as large numbers of passengers who had been taking shelter from heavy rain tried to leave the station at the same time as other passengers."There was a huge crowd on the FOB [foot overbridge]. Everybody tried to leave at once and it appeared on...
Suspected suicide bomber shot at Brussels railway station

Suspected suicide bomber shot at Brussels railway station

World
Media playback is unsupported on your deviceBelgian soldiers have shot a man suspected of being a would-be suicide bomber at Brussels Central Station, officials say.He was shot after reportedly setting off a small explosion and no-one else is believed to have been injured. Prosecutors say they are treating the incident as a terrorist attack.In March 2016, 32 people were killed and at least 300 injured in attacks on Brussels claimed by the Islamic State (IS) group.According to Belgian newspaper La Libre, quoting prosecutors, the man who was shot was wearing a rucksack and a bomb belt.He detonated a device when he attracted the attention of soldiers in the station, the paper says. Several Belgian media outlets quote witnesses as saying the man shouted "Allahu Akbar" ("God is great" in Ara...