Skip to content
Search

Latest Stories

£4.8 million bursary fund launched for university students by UK finance firm

£4.8 million bursary fund launched for university students by UK finance firm

A LEADING finance firm has launched a £4.8 million bursary fund for university students, with 60 per cent of support going to ethnic minorities.

JPMorgan Chase and the Sutton Trust announced the endowment fund last week, to improve the access to employability opportunities for underserved, low income and BAME university students in the UK.


It will provide students with bursaries to help them access critical enrichment opportunities and improve their employability, a spokesperson said. The bursaries will assist finance opportunities such as internships, study abroad programmes, volunteering experiences, additional courses or training, and essential living costs – including accommodation, subsistence and study materials.

It was confirmed around 60 per cent of the bursaries will be targeted at ethnic minority students, to reflect the additional barriers that these communities face.

Viswas Raghavan, CEO of J.P. Morgan in EMEA, highlighted the structural barriers further exacerbated by the Covid-19 pandemic, affecting young people from low income and ethnic minority groups.

“Good jobs are key to social mobility and improving the employability of disadvantaged students is an important first step towards a promising, sustainable and well paid career,” Raghavan said.

According to research, the number of students not taking part in work experience or studying abroad was up by more than half, from 23 per cent pre-pandemic to 37 per cent. Almost two-thirds of students from working-class backgrounds said they were living at home this term – meaning they have lost out on a “full university experience and all the enrichment and growth opportunities it presents”.

The application process for the bursaries will start this summer and cover students’ participation in a wide range of activities and events beyond their core academic course. It was confirmed bursaries would be offered in every academic year.

Sir Peter Lampl, founder and chairman of the Sutton Trust and chairman of the Education Endowment Foundation, said he was “delighted” with the new partnership.

“We will be able to offer support to hundreds of Sutton Trust alumni in the decade to come,” he said. “This will enable them to take part in truly life-changing experiences which will build important skills such as communication, resilience, confidence, motivation and leadership; skills which previous Sutton Trust research has shown are highly valued by employers.”

Previously, JPMorgan have supported ethnic minority students and leaders through efforts such as the Advancing Black Pathways and New Skills at Work programmes. They have also set up front office investment banking apprenticeships for school leavers and a £2 million philanthropic investment to support minority-led non-profit organisations in London.

More For You

Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less
Trump-Getty

Trump said that while deals are being made with some countries, others may face tariffs.

Getty Images

Trump says major trade deal with India may be finalised soon

US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations between the two countries.

“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India," Trump said at the “Big Beautiful Bill” event at the White House.

Keep ReadingShow less
Asda suffers nearly £600m loss as debt and IT costs surge

Asda co-ownerMohsin Issa. (Photo: Asda)

Asda suffers nearly £600m loss as debt and IT costs surge

ASDA, one of Britain’s largest supermarkets, has reported a pre-tax loss of £599 million for 2024, swinging sharply from a £180 million profit the previous year.

The loss comes despite total sales rising by over £1 billion to £26.8bn, as the retailer faces mounting debt costs, falling sales, and spiralling spending on a major IT overhaul, the Telegraph reported.

Keep ReadingShow less
Mounjaro

Mounjaro, or tirzepatide, is part of a new class of weight-loss medications, with trials showing patients losing an average of 20 per cent of their body weight after 72 weeks.

Reuters

Lilly to sell Mounjaro pens in India as Wegovy enters market

ELI LILLY said on Thursday that it has received approval from India's drug regulator to launch pre-filled injector pens of its weight-loss drug, Mounjaro.

The move gives the company more options to compete with Novo Nordisk, which recently launched its weight-loss drug Wegovy in the country.

Keep ReadingShow less
Grant Thornton's Anuj Chande urges UK firms to tap booming India

Anuj Chande

Grant Thornton's Anuj Chande urges UK firms to tap booming India

INDIAN companies are well placed to support the UK’s economic growth, Eastern Eye has been told by Anuj Chande, partner and head of the South Asia Business Group at Grant Thornton.

He was speaking after the publication of Grant Thornton’s India Meets Britain Tracker 2025: The latest trends in Indian investment in the UK, which was released last week. While companies in India need little encouragement to enter the UK market, the reverse is not true.

Keep ReadingShow less