Bono and U2 seem to know what side the bread is buttered on. Apparently fuzzy sentiment only goes so far when it comes to dealing rationally with the sort of financial resources they have at their command.

U2 move their assets out of Ireland

The rock band U2 came under criticism yesterday after reports that it has moved a portion of its multi-million-pound business empire out of Ireland for tax reasons.

Based in Dublin, U2 have long benefited from the artists’ tax exemption introduced by Charles Haughey, the late prime minister. It is reported that the band’s move has been made in response to a £170,000 cap on the tax-free incomes introduced in the last Irish budget.

Another case of those pesky tax increases driving out investment capital. Stewardship trumps sentimentality again.

Does Forbes deal mean Bono has left it all behind?

One of the world’s foremost anti-poverty campaigners has invested in Forbes, the publishing company regarded as the ultimate mouthpiece of capitalism.

Former presidential candidate Steve Forbes, who is chief executive of Forbes and editor-in-chief of Forbes magazine, said: “This investment by Elevation Partners will now accelerate our pursuit of a number of very exciting opportunities… The team brings impressive experience and great expertise, and they are particularly strong in technology, media and entertainment innovations. Elevation Partners are the kind of entrepreneurs Forbes has been covering for years. Truly, they are the right people at the right time.”