Bankers’ pay premium is narrowing
Investment bankers still get paid much more than other professionals, including doctors and engineers, but for the first time in a generation, the gap is narrowing. In what remuneration experts say marks only the beginning of potentially the largest adjustment in decades, average pay per head in a sample of nine European and US investment banks has fallen from 9.5 times the private sector average in 2006 to 5.8 times last year, according to research compiled by PwC.
Axa to reduce its exposure to France
The largest manager of French property assets will reduce its exposure to the country over fears it is becoming a “middle of the pack” economy, held back by slow public spending reforms and the stringent tax policies championed by President François Hollande.
Investors embrace eurozone bonds
Sovereign bond issuance from the eurozone periphery is on track for the best quarter since the continent’s crisis erupted, as investors have shrugged off simmering concerns over the currency bloc and embraced big bond sales.
Sweaty Betty hopes to stretch out
A sportswear clothing chain loved by “yummy mummies” and yoga devotees is limbering up for an expansion drive. Sweaty Betty is pushing to open a further 20 boutiques over the next two years, taking its total portfolio to 50.
New challenge facing miners
Mining companies are being hit by the rising cost of using water to extract minerals as they compete with demand from consumers, farmers and heavy industries.
The Daily Telegraph
Property investor Ruhan joins Lotus
The Lotus Formula One team has appointed to its board Andrew Ruhan, one of Britain's most successful property investors, in a bid to fuel its 2013 title challenge.
Rentokil examines sale of IFS
Rentokil is preparing to sell for up to £400m a division of its business that provides some of Britain's biggest companies with cleaners, canteen cooks and security guards. It has asked financiers from Barclays to work on a sale.
THE WALL STREET JOURNAL
Empire State owners spar over IPO
The storied skyscraper's owners are fighting over a sweeping deal to make the 102-story tower the centerpiece of a new public company.
HTC to roll out new phone this week
HTC said that it will roll out its new flagship handset HTC One in the UK, Germany and Taiwan this week after the smartphone maker delayed the launch due in part to a shortage of several key components.