Lloyds eyes banker bonus shake-up
Lloyds Banking Group is examining whether to ditch the concept of annual bonuses for senior staff and extend the timeframe of longer-term incentives to up to 10 years, according to people briefed on a project to overhaul remuneration.
Xstrata unfairly disparaged says boss
The board of Xstrata has been “unfairly disparaged” over its handling of the $70bn merger with commodities trader Glencore, according to Mick Davis, the miner’s chief executive. Sir John Bond, Xstrata’s chairman, and the non-executive directors have come under fire from some investors, who have argued the board did not fight hard enough in negotiations with Glencore and should not have approved £173m in retention payments originally proposed for Xstrata’s senior management.
Bailey sets out vision for regulation
Andrew Bailey has “stared into the abyss” of big bank failures and as the likely head of the UK’s new bank and insurance regulator, he wants to make sure he does not have to do it again.
Oracle president sees a storage crisis
The world is “drowning in data” and computing companies are running out of space to store it, Mark Hurd, one of the technology sector’s best-known — and most controversial — figures has warned.
Cut bills to create jobs, says ASI
SMEs should not have to pay employers’ national insurance contributions, the right-of-centre think-tank will argue today. The Adam Smith Institute says that such a move would create a minimum of 500,000 jobs.
The Daily Telegraph
Takeover Panel to review Cadbury law
The Takeover Panel is set to launch a review of its controversial “Cadbury law” amid growing concerns that the new regime is stifling a healthy takeover market.
EBay is latest firm to pay little UK tax
EBay has become the latest foreign company shown to have paid virtually no corporation tax on its UK operations. It joins a growing list of overseas-owned firms that have slashed their UK tax bill by channelling payments offshore through legal loopholes.
THE WALL STREET JOURNAL
Veolia and Suez had discussed tie-up
France’s Veolia Environnement and Suez Environnement, the world’s two largest water and waste utilities by revenue, recently explored a merger deal that would have created an industry giant with combined revenue of roughly €45bn.
India suspends Kingfisher licence
Regulators suspended Kingfisher Airlines’ licence after the carrier failed to produce a plan on how it would revive its operations. The airline has cancelled all flights since 1 October because of a strike.