Vautour can get Mullins and Walsh off to a Supreme start March 10, 2014 THERE is no better sound in racing than the roar that kicks off the Cheltenham Festival as the tapes go up for the Sky Bet Supreme Novices’ Hurdle. Last year’s event was a top-class renewal with today’s Arkle favourite Champagne Fever, and leading Champion Hurdle contenders My Tent Or Yours and Jezki fighting out the [...]
War breaks out in Co-op boardroom March 10, 2014 CO-OPERATIVE chief executive Euan Sutherland yesterday launched a furious attack on members of his own board after a suspected leak revealed details of his £3.66m pay deal. Sutherland took the unusual step of posting on social network Facebook to lash out at the “individual, or individuals” on the Co-op board who he said were determined [...]
One step ahead: Liam Ward-Proud talks to ZenithOptimedia’s Belinda Rowe March 10, 2014 IN 1988, Zenith Media merged with the buying arms of Saatchi & Saatchi, KHBB, and BSB Dorland, forming what many consider to be the world’s first truly global media agency. By 2000, the group (now called ZenithOptimedia) had repositioned itself as the “return on investment agency”. Belinda Rowe joined the firm – part of Publicis – [...]
EU forces Barclays to end its 118-year relationship with PwC March 6, 2014 BARCLAYS will have a new auditor from 2017 as new EU rules force the bank to end its historic relationship with PwC and rotate to a different firm, the lender’s annual report shows. The bank has worked with PwC and its predecessor companies since 1896 and last put the deal out to tender more than [...]
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 [...]