Surprise drop in top dog pay: Report shows FTSE chiefs taking home less cash in real terms August 16, 2015 Average pay packages for FTSE 100 chief execs fell in real terms over the course of the most recently-recorded year, according to a new report out today. Bosses at British blue chip firms took home an average of £4.96m in 2014, compared with £4.92m in 2013, according to the High Pay Centre think tank. Adjusting [...]
Now Brown joins chorus of critics over leadership favourite Corbyn August 16, 2015 FORMER Prime Minister Gordon Brown has become the latest Labour grandee to intervene in the party’s leadership contest, saying that it needs to present itself as “credible” and “electable”. In a 50-minute speech in London yesterday, Brown did not refer to any of the Labour leadership candidates by name, but appeared to roundly reject the [...]
Network Rail is poised for £1bn sale of properties including Vinopolis site and Brixton arches August 16, 2015 Network Rail has taken the first step towards selling off its £1bn commercial property portfolio after hiring bankers to conduct a review of its estate. The government-backed organisation, which runs all of Britain’s rail infrastructure, confirmed that it is working with boutique investment bank Rothschild to explore ways in which it can “make more [...]
Cigarette plain packaging war heating up as new Australian study due for release August 16, 2015 The tobacco industry has hit back at the government’s plan to enforce plain packaging for cigarettes, warning that the ruling will cause a rise in counterfeits being smuggled into the UK. As legal battles rage between the UK government and British American Tobacco, this latest challenge comes after it was revealed yesterday that an official [...]
Most UK tech professionals would consider moving abroad: US, Australia and Canada top of the list August 16, 2015 Silicon Roundabout has proved a lure for many UK tech professionals, but maybe the pull of good coffee and free wifi is wearing off. Nearly three quarters in the industry say they would consider moving abroad for work if the right job came up, according to a poll out today. The figures, based on a [...]
Bezos praises UK stance on drone delivery August 16, 2015 AMAZON founder Jeff Bezos believes Britain’s regulatory agencies are more advanced than America’s when it comes to delivery by drone. Speaking to the Telegraph, Bezos said: “The FAA [the US aviation regulator] is catching up a little here… But the UK has been, I’d say, a very encouraging example of good regulation. We like what [...]
Morrisons nears deal to offload M Local stores August 16, 2015 Morrisons is in talks to sell its convenience stores to the investment firm behind the rescue of Monarch Airlines as the struggling supermarket chain focuses on reviving its core business. The Bradford-based retailer is said to be nearing a deal with a team of industry executives led by Greybull Capital to offload its M Local [...]
Germany digs in heels on Greek debt as Merkel resists write-off August 16, 2015 GERMAN Chancellor Angela Merkel stuck to her guns yesterday, insisting there will not be a debt haircut for Greece. “We said in July that maybe – no, not maybe – there is still leeway on the extension of maturities, on interest rates,” Merkel said in an interview on Germany’s ZDF television. “One can do more [...]
Bob Diamond snaps up stake in New York trading outfit South Street August 16, 2015 Former bank chief turned investor Bob Diamond has snapped up a stake in New York-based repo-trading outfit South Street Securities, diversifying his portfolio since his exit from Barclays three years ago. Diamond, who was pressured to bow out of Barclays in the wake of the Libor scandal, has been actively engaged in his emerging markets [...]
Glencore braced to reveal huge drop in profits August 16, 2015 GLENCORE is set to add more blows to dwindling investor confidence when it delivers a disappointing set of results on Wednesday. The mining and commodity giant’s financial results for the first half of the year are expected to reveal a net income of $780m (£498m), a sharp contrast to the $2bn it made in the [...]
