Stop acquisitive politicians forever with a max tax guarantee March 6, 2014 HOW MANY times have we heard a politician say that “those with the broadest shoulders should bear the greatest burden”? Indeed, given the frequency with which this mantra is repeated, you could be forgiven for thinking that the rich are only taxed lightly. The reality is somewhat different. If anything, the UK is dangerously dependent [...]
British Banks defy Brussels over pay March 5, 2014 BRITAIN’S biggest banks defied Europe yesterday, handing out almost £1m more to their chief executives to avoid Brussels’ incoming bonus cap. Lloyds and Barclays unveiled plans to pay top staff new allowances, topping up their salaries in a bid to make sure they do not leave for higher bonuses in other parts of the world. [...]
L&G boss urges more building work for Britain March 5, 2014 FINANCIAL services giant Legal & General has called for politicians to do more for British people, particularly outside of London, by encouraging investment in housing and big infrastructure projects. The pension and insurance firm, which yesterday posted a 10 per cent rise in pre-tax profits, more than doubled its investments in housing and other UK [...]
Standard Chartered slashes top bosses’ payout and bonus pool March 4, 2014 STANDARD Chartered is set to announce today that it has cut its bonus fund from £840m to £720m this year and slashed a payout to top bosses at the bank. Chief executive Peter Sands and chairman of the bank Sir John Peace are keen to avoid negative publicity around bonus payouts, as other banks including [...]
There’s a cost to doing nothing in Ukraine March 3, 2014 IN RESPONSE to Russian forces entering the Crimea, the interim Ukrainian government called for UK and US intervention, invoking the undertakings we (and the French, and latterly Nato) gave to protect Ukraine’s territorial integrity. Yesterday, William Hague went to Kiev to tell the Ukrainians to their faces that we’re not coming – “no military options [...]
Virgin Money to boost bonuses March 3, 2014 VIRGIN Money is this week set to approve banking bonuses of up to 200 per cent of executive’s salaries. Sir Richard Branson’s banking arm will reveal investor approval for the move at tomorrow’s full-year results, according to Sky News. The bonus decision comes as new European rules demand there should be a 100 per cent [...]
Capital One Cup: Pellegrini sets eyes on more trophies after Wembley win March 2, 2014 AT WEMBLEY STADIUM MANCHESTER CITY 3 SUNDERLAND 1 MANCHESTER City manager Manuel Pellegrini yesterday won his first trophy since joining the club, yet insisted he will not be satisfied unless the Sky Blues claim more silverware before the end of May. Fabio Borini gave Sunderland an early lead, putting City in danger of a repeat [...]
What the other papers say this morning – 28 February 2014 February 27, 2014 FINANCIAL TIMES Investors disappointed in AO float Hundreds of institutions that tried to buy into the float of online retailer AO World have been left disappointed, after 85 per cent of the new issue was awarded to just 15 investors. One-third of the 300 institutions that applied for shares in the float received no allocation [...]
Downloads to be ultra-fast at Virgin Media February 27, 2014 VIRGIN Media customers can now download a high definition movie in just four minutes after the cable broadband provider increased its service’s top speeds to 152Mb, double BT and Sky’s top consumer broadband speeds of 76Mb. Virgin’s ultrafast speed will not come at any additional cost for existing customers of Virgin’s fastest service, who will [...]
Inside Track: Essar deal could hurt JP Morgan February 26, 2014 IN the ultra-polite language of the City, even the biggest failures among departing bosses often leave with good wishes and gratitude for their contribution ringing in their ears. So when blue-chip fund managers dispense with pleasantries and bandy words such as “cynical” around, it’s clear that somebody is seriously unhappy. Having bought Essar Energy shares [...]