Saudi Arabia’s $700bn sovereign wealth fund – which has been used as a lever of global influence by Crown Prince Mohammed bin Salman – has been subpoenaed by a powerful Senate committee after it refused to voluntarily comply with information requests about its US dealings. The subpoena, which was issued by the Senate’s permanent subcommittee on investigations, is targeting the Public Investment Fund’s wholly-owned US subsidiaries in connection to the group’s proposed golf deal and “related...

An influential thinktank closely linked to two billionaires who provided lavish travel gifts to conservative supreme court justices is behind a successful lobbying campaign to get the US high court to take on a case that could protect them and other billionaires from a possible future wealth tax. The Manhattan Institute was one of eight conservative advocacy groups that filed amicus briefs urging the supreme court to take on Moore v US, a $15,000 tax case that Democrats have warned could...