Callaghan quizzed by MPs over 'failures,' grants to foreign companies

By Jonathan Underhill March 12 (BusinessDesk) - Callaghan Innovation, the government backed innovation hub, faced questions this week from opposition MPs about why it had funded companies that subsequently failed and gave grants to unprofitable subsidiaries of wealthy overseas firms, or local firms that moved offshore. Chair Sue Suckling, chief executive Mary Quin and chief financial officer Richard Perry were appearing before the parliament's education and science select committee for Callaghan's 2013/14 financial review, covering its fi...