Bank compliance salaries soar
Turnover at the top of global bank compliance departments has tripled since the financial crisis, leading to sharp salary gains of up to 50 per cent for global and regional heads in the past two years, new research shows.
Zuma warns ‘colonial’ corporates
Jacob Zuma, South Africa’s president, has warned western companies they must change their old “colonial” approach to Africa or risk losing out even more to the accelerating competition from China and other developing powers. Western businesses and governments have a “psychological problem” and are still prone to lecturing Africa, Zuma said. He advised them to resist warning against the embrace of China and rethink their own investment strategies.
New Look to open shops in China
New Look, the privately owned value fashion chain, is poised to enter China within the next year even as it prepares to refinance its more than £1bn debt pile. Anders Kristiansen, the new chief executive, said the group planned to have its first store in China in early spring next year.
SFO rocked by corruption claims
The Serious Fraud Office was nearly torn apart by allegations of cronyism, misuse of public funds and possible corruption against some of its top bosses, undermining its pursuit of financial crime after the banking collapse, an investigation by The Times has found.
Young’s microbrewery taste for pubs
Young’s will announce a deal today with the Meantime Brewing Company to install tanks in some of its bigger pubs.
The Daily Telegraph
Anger over politics builds in Italy
Italy’s president Giorgio Napolitano is exploring the creation of a second technocrat government to break the political log-jam and calm markets after key parties failed to reach an accord, risking a serious popular backlash.
Les Miserables to lift Cineworld sales
Les Miserables and Django Unchained are thought to have helped fuel a surge in box office takings at Cineworld in 2013, boosting expansion plans.
THE WALL STREET JOURNAL
Portugal seeks easing for bailout
Portugal is seeking to renegotiate parts of its international bailout agreement amid worse-than-expected forecasts for an economy in recession and growing popular protest over deficit-cutting austerity measures imposed by its lenders.
Cocoa hits a nine-month low
Cocoa futures retreated to a nine-month low last week as an unfettered flow of beans weighed on prices. The amount and quality of cocoa has exceeded forecasts.