Lincolnshire CC's £1.3bn pension fund could ditch its £1.5m investment in News Corporation following the phone hacking scandal.

As News Corporation owner Rupert Murdoch prepared to give evidence to a Parliamentary inquiry into the snowballing phone hacking scandal on 19 July, it emerged some council pension funds – which hold around £140bn in assets and make up a significant part of the UK stock market – were reconsidering their investments in the firm.