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 investments throughout the United States”. The PIF is also the majority owner of Newcastle United football club. The subpoena was ... (full story)