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Rishi Sunak has been criticised for announcing a “surprise” round of honours – including a knighthood for a major donor to the Conservative Party.

It was announced on the Thursday before the Easter bank holiday weekend that Mohamed Mansour was being knighted for business, charity and political service – he had given £5m to the Tories in 2023 and is a senior treasurer at the party.

A number of Conservative MPs were also made knights and dames.

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Labour’s chair, Anneliese Dodds, said Mr Sunak‘s nominations were “either the arrogant act of an entitled man who’s stopped caring what the public thinks, or the demob-happy self-indulgence of someone who doesn’t expect to be prime minister much longer”.

Asked by Sky News if Labour would rule out giving donors honours if they were in government, Ms Dodds said giving money should not be an “automatic pass”.

Following the announcement, Mr Mansour said: “This award is the greatest honour of my life. I am thrilled and hugely grateful.

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“This award would have meant so much to my father and mother. I wish they could have lived to see this day. This honour is for them, for the values they taught my siblings and I and for everything they did for us.”

Downing Street sources highlighted Mr Mansour’s work supporting charities – including financially backing a memorial to those who died due to COVID.

Speaking to Sky News, Conservative peer and polling expert Lord Robert Hayward said the public would be “unhappy” with the move.

While some non-political figures – like director Christopher Nolan – were also knighted, it’s the political acts that will draw attention.

Mohamed Mansour, who has been knighted by Rishi Sunak. Pic: Reuters
Image:
Mohamed Mansour, who has been knighted by Rishi Sunak. Pic: Reuters

This will hardly strengthen confidence in the honours system


Rob Powell Political reporter

Rob Powell

Political correspondent

@robpowellnews

We’ve been here before.

Questions over who gets gongs stretch back decades.

The appointment of Tory donor and treasurer Mohamed Mansour inevitably relights the row.

Labour has accused Rishi Sunak of being “demob happy” and “self-indulgent”.

Sir Keir Starmer has vowed to clean up cronyism in the honours system.

What that means in practice is unclear, although he has said he wouldn’t have a resignation honours list if he became prime minister.

We will wait and see if knighthoods are dished out to major Labour donors if the party makes it into government.

In fact, it’s the timing of this announcement that is potentially more interesting than the contents.

There isn’t usually an “Easter Honours List”.

That’s fuelled speculation of attempts to square off supporters ahead of an early general election.

Government sources deny that and say the answer is purely administrative – appointments to the privy council from the devolved assemblies were required, and so the prime minister also wanted to take the opportunity to honour other individuals too.

It’s a somewhat curious explanation.

But whatever the truth, the sight of another honour being handed out to someone who’s very much in the fold of party politics will hardly strengthen confidence in the behind-the-scenes machinations of Westminster.

Lord Haywood said: “I think people don’t like it, there’s no question about that.

“The problem is that you’ve got people who are genuine philanthropists who also give money to a political party, and that’s where the line isn’t differentiated.”

He added that he was “really surprised” by the timing of the list – but it probably doesn’t say anything about the timing of a general election.

Normally, honours are granted at New Year’s on the monarch’s birthday, or after the resignation of a prime minister, although this is a convention not a rule.

The timing of the announcement, while parliament is in recess, has also raised eyebrows – although sources suggested the timing was linked to the need to make appointments to the Privy Council, including the new Welsh First Minister Vaughan Gething.

Tory MP Philip Davies was one of the Conservative MPs to be made knight. He is known for hosting a television show on GB News with his wife, fellow Conservative MP and minister Esther McVey.

Ex-sports minister Tracey Crouch will become a dame having run a review into reforming the UK football system, and farming minister Mark Spencer will also become a sir.

Treasury Select Committee chair Harriett Baldwin – a Conservative MP – will also become a dame.

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Away from politics, Mr Nolan and wife and producer Emma Thomas have been handed honours following the release of award-winning biopic Oppenheimer.

Dr Demis Hassabis, who co-founded Google’s DeepMind AI business, was also made a knight.

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‘Will the PM side with parents or tech bros?’: Labour peer demands action on children’s smartphone safety

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'Will the PM side with parents or tech bros?': Labour peer demands action on children's smartphone safety

Sir Keir Starmer needs to choose between parents who want stronger action to tackle harmful content on children’s phones, or the “tech bros” who are resisting changes to their platforms, Baroness Harriet Harman has said.

Speaking to Beth Rigby on Sky News’ Electoral Dysfunction podcast, the Labour peer noted that the prime minister met with the creators of hit Netflix drama Adolescence to discuss safety on social media, but she questioned if he is going to take action to “stop the tech companies allowing this sort of stuff” on their platforms where children can access it.

Sir Keir hosted a roundtable on Monday with Adolescence co-writer Jack Thorne and producer Jo Johnson to discuss issues raised in the series, which centres on a 13-year-old boy arrested for the murder of a young girl, and the rise of incel culture.

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The aim was to discuss how to prevent young boys being dragged into a “whirlpool of hatred and misogyny”, and the prime minister said the four-part series raises questions about how to keep young people safe from technology.

Sir Keir has backed calls for the four-part drama to be shown in all schools across the country, but Baroness Harman questioned what is going to be achieved by having young people simply watch the show.

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Sir Keir Starmer held a roundtable with the creators of the Adolescence TV drama.

“Two questions were raised [for me],” she said. ” Firstly – after they’ve watched it, what is going to be the discussion afterwards?

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“And secondly, is he going to act to stop the tech companies allowing this sort of stuff to go online into smartphones without protection of children?

“Because if the tech companies wanted to do this, they could actually protect children. They can do everything they want with their tech.”

She acknowledged there are “very big public policy challenges” in this area, but added of the prime minister: “Is he going to side with parents who are terrified and want this content off their children’s phones, or is he going to accept the tech bros’ resistance to having to make changes?”

Harriet Harman said the government should impose time limits on inquiries
Image:
Baroness Harriet Harman

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Can parliament keep up?

The Labour peer backed the Conservative Party’s call for a ban on smartphones in schools to be mandated from Westminster, saying it would “enable all schools not to have a discussion with their parents or to battle it out, but just to say, this is the ruling” from central government, which Ofsted would then enforce.

“I’m sensitive to the idea that we shouldn’t constantly be telling schools what to do,” she continued. “And they’ve got a lot of common sense and a lot of professional experience, and they should have as much autonomy as possible.

“But perhaps it’s easier for them if it’s done top down.”

Baroness Harman also questioned the speed with which parliament is actually able to legislate to deal with the very rapid development of new technologies, and posits that it could “change its processes to be able to legislate in real time”.

She suggested that a “powerful select committee” of MPs could be established to do that, because “otherwise we talk about it, and then we’re not able to legislate for 10 years – by which time that problem has really set in, and we’ve got a whole load more problems”.

On the podcast, the trio also discussed the 10% tariffs imposed on the UK by Donald Trump and the government’s efforts to strike a trade deal with the US to mitigate the impact of the levy.

The government has refused to rule out scrapping the Digital Services Tax, a 2% levy on tech giants’ revenues in the UK, as part of the negotiations with the Trump administration – a move Baroness Harman said would be “very heartbreaking”.

👉 Click here to listen to Electoral Dysfunction on your podcast app 👈

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Bakkt investors file class-action lawsuit after loss of Webull, BoA contracts

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Bakkt investors file class-action lawsuit after loss of Webull, BoA contracts

Bakkt investors file class-action lawsuit after loss of Webull, BoA contracts

A group of investors with cryptocurrency custody and trading firm Bakkt Holdings filed a class-action lawsuit alleging false or misleading statements and a failure to disclose certain information.

Lead plaintiff Guy Serge A. Franklin called for a jury trial as part of a complaint against Bakkt, senior adviser and former CEO Gavin Michael, CEO and president Andrew Main, and interim chief financial officer Karen Alexander, according to an April 2 filing in the US District Court for the Southern District of New York.

The group of investors allege damages as the result of violations of US securites laws and a lack of transparency surrounding its agreement with clients: Webull and Bank of America (BoA).

Law, Investments, United States, Bakkt

April 2 complaint against Bakkt and its executives. Source: PACER

The loss of Bank of America and Webull will result “in a 73% loss in top line revenue” due to the two firms making up a significant percentage of its services revenue, the investor group alleges in the lawsuit. The filing stated Webull made up 74% of Bakkt’s crypto services revenue through most of 2023 and 2024, and Bank of America made up 17% of its loyalty services revenue from January to September 2024.

Related: Bakkt names new co-CEO amid re-focus on crypto offerings

Bakkt disclosed on March 17 that Bank of America and Webull did not intend to renew their agreements with the firm ending in 2025. The announcement likely contributed to the company’s share price falling more than 27% in the following 24 hours. The investors allege Bakkt “misrepresented the stability and/or diversity of its crypto services revenue” and failed to disclose that this revenue was “substantially dependent” on Webull’s contract.

“As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages,” said the suit.

Other law offices said they were investigating Bakkt for securities law violations, suggesting additional class-action lawsuits may be in the works. Cointelegraph contacted Bakkt for a comment on the lawsuit but did not receive a response at the time of publication.

Prices affected by Trump Media reports

Bakkt’s share price surged roughly 162% in November 2024 after reports suggested that then-US President-elect Donald Trump’s media company was considering acquiring the firm. As of April 2025, neither company has officially announced a deal.

Shares in Bakkt (BKKT) were $8.15 at the time of publication, having fallen more than 36% in the previous 30 days.

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Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

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Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

The new trade tariffs announced by US President Donald Trump may place added pressure on the Bitcoin mining ecosystem both domestically and globally, according to one industry executive.

While the US is home to Bitcoin (BTC) mining manufacturing firms such as Auradine, it’s still “not possible to make the whole supply chain, including materials, US-based,” Kristian Csepcsar, chief marketing officer at BTC mining tech provider Braiins, told Cointelegraph.

On April 2, Trump announced sweeping tariffs, imposing a 10% tariff on all countries that export to the US and introducing “reciprocal” levies targeting America’s key trading partners.

Community members have debated the potential effects of the tariffs on Bitcoin, with some saying their impact has been overstated, while others see them as a significant threat.

Tariffs compound existing mining challenges

Csepcsar said the mining industry is already experiencing tough times, pointing to key indicators like the BTC hashprice.

Hashprice — a measure of a miner’s daily revenue per unit of hash power spent to mine BTC blocks — has been on the decline since 2022 and dropped to all-time lows of $50 for the first time in 2024.

According to data from Bitbo, the BTC hashprice was still hovering around all-time low levels of $53 on March 30.

Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

Bitcoin hashprice since late 2013. Source: Bitbo

“Hashprice is the key metric miners follow to understand their bottom line. It is how many dollars one terahash makes a day. A key profitability metric, and it is at all-time lows, ever,” Csepcsar said.

He added that mining equipment tariffs were already increasing under the Biden administration in 2024, and cited comments from Summer Meng, general manager at Chinese crypto mining supplier Bitmars.

Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

Source: Summer Meng

“But they keep getting stricter under Trump,” Csepcsar added, referring to companies such as the China-based Bitmain — the world’s largest ASIC manufacturer — which is subject to the new tariffs.

Trump’s latest measures include a 34% additional tariff on top of an existing 20% levy for Chinese mining imports. In response, China reportedly imposed its own retaliatory tariffs on April 4.

BTC mining firms to “lose in the short term”

Csepcsar also noted that cutting-edge chips for crypto mining are currently massively produced in countries like Taiwan and South Korea, which were hit by new 32% and 25% tariffs, respectively.

“It will take a decade for the US to catch up with cutting-edge chip manufacturing. So again, companies, including American ones, lose in the short term,” he said.

Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

Source: jmhorp

Csepcsar also observed that some countries in the Commonwealth of Independent States region, including Russia and Kazakhstan, have been beefing up mining efforts and could potentially overtake the US in hashrate dominance.

Related: Bitcoin mining using coal energy down 43% since 2011 — Report

“If we continue to see trade war, these regions with low tariffs and more favorable mining conditions can see a major boom,” Csepcsar warned.

As the newly announced tariffs potentially hurt Bitcoin mining both globally and in the US, it may become more difficult for Trump to keep his promise of making the US the global mining leader.

Trump’s stance on crypto has shifted multiple times over the years. As his administration embraces a more pro-crypto agenda, it remains to be seen how the latest economic policies will impact his long-term strategy for digital assets.

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

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