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A loss for all
The entire bonus pool for 2012/13 could be less than last year’s tax take at just £2.2 billion
The focus on fat cat pay in recent weeks has rightly fallen on to boardrooms. Some of Britain’s biggest companies have found themselves embarrassed after investors big and small refused to support gold-plated remuneration packages. Several chief executives including Sly...
May 14, 2012 10:13 AM Read Full Post
Opening late for business
Many regular travellers are already avoiding Heathrow for long-haul flights
Pity the poor traveller. As thousands of people prepared to head off abroad for the Bank Holiday weekend thoughts inevitably turned to what kind of reception airline passengers would receive when they arrived back in this country.Would the chaos that...
May 9, 2012 10:41 AM Read Full Post
When did we stop taking responsibility?
Boards must ensure an apposite culture that will deliver on their duties to society
Hector Sants, chief executive of City watchdog the Financial Services Authority, delivered his parting speech this week and called for more action to deliver effective reforms on corporate governance.We’ve heard some of what he had to say before. But among...
April 27, 2012 10:37 AM Read Full Post
Let's slow things down
It’s high time quarterly reporting was abandoned
It’s difficult to shake off the sense of deja vu pervading some of my working life as a City and financial journalist these days.The euro zone debt crisis, like a crazed zombie from a B-list movie, refuses to die. The...
April 20, 2012 12:07 PM Read Full Post
Is extradition a one-way street?
It is the basic unfairness of the extradition treaty which sticks in the craw
Seeing the images of cleric Abu Hamza this week as he faced being shipped to the US on terrorism charges sparked memories for me of 2004, and the London extradition hearing of the so-called NatWest Three.The case of these former...
April 16, 2012 11:16 AM Read Full Post
Will it take a hefty fine for business to change?
The Serious Fraud Office has significantly stepped up its foreign bribery enforcement
It’s been a bad week for Britain and bribery.Two years since the 2010 Bribery Act was passed and a mere 12 months since it came into force and the criticism of corporate controls in this country are coming thick and...
April 11, 2012 9:25 AM Read Full Post
As slick as oil
The UK’s oil and gas industry is forecast to pay roughly a quarter of the total corporation tax take
During the dark days of the recent recession British industry took a pounding as spending cuts and the consumer slowdown began to bite. Amid the gloom one sector provided a little-seen beacon in the far north of these islands. The...
March 26, 2012 3:03 PM Read Full Post
A day to bury news?
The release of three banks’ pay reports within hours of each other smacks of more than a coincidence
‘Banks’ day of Shame’ was how one newspaper front page summarised the decision of Barclays, Royal Bank of Scotland and Lloyds Banking Group to publish their annual pay reports on the same day.Just one of these documents can provide an...
March 19, 2012 2:19 PM Read Full Post
Mega-merger madness
Some investors have already critcised the proposed Glencore-Xstrata merger
Some investors have already criticised the proposed Glencore-Xstrata merger, perhaps anticipating regulators’ potential veto of such a behemoth.Will the proposed merger of Glencore and Xstrata buck the recent trend of failed big mining deals and give the mergers and acquisitions...
March 14, 2012 9:48 AM Read Full Post
How to motivate staff?
Employee-owned businesses grew sales faster and created more jobs during recession
The John Lewis Partnership was back in the news this week as the annual announcement of its bonus round for workers hit the headlines.The 14 percent of salary payout for all partners - equivalent to seven weeks’ pay - is...
March 9, 2012 11:08 AM Read Full Post
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