Shareholders to vote on bosses’ pay across EU April 9, 2014 SHAREHOLDERS across the EU will get more power over executives’ pay packages, after the European Commission backed rules for a binding vote on remuneration. The move brings the rest of the EU more closely in line with British practices – in the UK, investors were given a legal say on pay last year. Listed companies [...]
UK trade deficit narrows on a drop in domestic demand April 9, 2014 THE UK’s trade deficit was smaller than expected in February this year, dropping from January’s level as demand for imported goods falls. Overall, the trade deficit was £2.1bn in February, down from £2.2bn the month before. At £4.8bn, the deficit in the last three months has almost halved from the previous quarter. The UK’s deficit [...]
Londoners face a £1bn annual mansion tax bill April 9, 2014 LABOUR and Liberal Democrat proposals for a mansion tax would fall almost entirely on homeowners in London, with three boroughs in the capital footing over two thirds of the bill, research out yesterday by Zoopla showed. A mansion tax levy would effectively be a “London tax”, with homeowners in the capital paying just over £1bn [...]
Relief for renters as forecasters point to faster increase in wages April 9, 2014 RISING wages are set to outstrip rent increases during the summer for the first time in more than four years, according to a new forecasts from LSL property services. The estate agents indicate wages will rise by 2.2 per cent this year, based on the projections of the Office for Budget Responsibility and the Office [...]
House sales hit six-year high as activity spreads across the UK April 9, 2014 PROPERTY sales have soared to their highest level in six years as the housing boom grips regions across the UK, a new survey by property experts revealed today. The Royal Institution of Chartered Surveyors (RICS) said the housing recovery is “well and truly underway” with buyers testing the market right across UK and not just [...]
Metro founder launches online lender Atom April 9, 2014 METRO Bank co-founder Anthony Thomson is applying for a licence for an online-only bank Atom, and hopes to launch the lender next year. He wants to target customers who use banking apps on mobiles and tablets, rather than setting up a branch network to compete with Metro’s high street presence. “The big banks might be [...]
Goldman left holding Sports Direct stock after Ashley’s sale April 9, 2014 GOLDMAN Sachs has failed to sell all the 24m shares in Mike Ashley’s Sports Direct it took onto its books on Monday afternoon. Market sources believe that Goldman Sachs might have a large portion of the £204m block unsold after a torrid time on Tuesday when Sports Direct shares fell sharply from 883.5p to 811p. [...]
P&G sells pet food brand to Mars for $3bn April 9, 2014 PROCTER & Gamble is selling the bulk of its pet food business to Mars for $2.9bn (£1.7bn) to focus more on its personal care and cleaning brands, the consumer giant said yesterday. The privately held Mars, best known for its chocolate bar, will buy the Iams brand, as well as Eukanuba and Natura, in the [...]
This Islamic bank wants to get Britain building April 9, 2014 Gatehouse Bank’s boss tells Tim Wallace he wants to invest more BRITAIN could become the first truly global Islamic finance centre if the government sets its mind to attracting infrastructure investment, according to Gatehouse Bank’s chairman. The sector holds plenty of promise – Fahed Faisal Boodai estimates the industry is worth $1.5 trillion, and the [...]
Inside Track: HSBC to get one over on Barclays with capture of Moreno April 9, 2014 LIKE hands-on managers who get rebranded as directors of football, senior advisers at investment banks often find their august titles are merely stepping-stones on the way to a graceful exit. HSBC’s latest recruit suggests that theory is unfounded at Europe’s largest bank. City sources say it has signed up Glen Moreno, the chairman of Pearson, [...]
