Investors urged to clean up firms

The government has done all it can to give shareholders power over executives and boost transparency in big firms, and it is now down to investors to improve the way businesses are run and make Britain’s banks safe again, business secretary Vince Cable told the Association of British Insurers last night. “If the prevailing culture is to change, there can be no substitute for leadership from companies themselves and their owners – whether on diversity, directors’ pay, or the pursuit of long-run returns rather than short term rewards,” said Cable. “That depends on investor action, not apathy.”