The City gains seven sculptures June 18, 2012 A NUMBER of City of London-based businesses, including Hiscox, Aviva, British Land, IVG UK and Aon, have clubbed together with the City of London Corporation to create Great St Helen’s: Sculpture Space in the heart of the City. Set among London’s iconic architectural landmarks, including the Gherkin and the Lloyd’s building, a free curated exhibition [...]
Shareholder activism is set to grow further June 12, 2012 INSTITUTIONAL investors are taking an increasingly active role in the firms in which they invest, according to new research that shows the changes in attitude that paved the way for the shareholder spring. Investors are more likely than ever to demand firms provide clarity on long-term strategy and redraft executive pay deals to incentivise good [...]
Sainsbury and M&S chiefs see bonus slashed June 7, 2012 SAINSBURY chief executive Justin King and Marks & Spencer boss Marc Bolland have both seen their bonuses cut after failing to meet targets, as the recession forced them to slash growth plans. The cuts come amid a recent wave of shareholder upheaval against excessive executive pay which has swept across boardrooms including Aviva and Inmarsat. [...]
Xstrata and WPP ignore shareholder spring at their peril June 7, 2012 EVEN before the phrase “shareholder spring” was uttered, it was clear that investors were becoming unruly. More often than not it was strategy rather than executive remuneration that caused discontent. Much of the recent unrest, ostensibly about pay, is really about direction. Andrew Moss, the former Aviva boss, could have paid himself £1 last year [...]
Bonuses slashed at Sainsbury’s and M&S June 7, 2012 The chief executives of major retailers J Sainsbury and Marks & Spencer have both taken cuts in their bonuses after failing to meet targets and as recession forces them to scale back growth plans. Philip Clarke, head of rival Tesco, last month forewent his annual bonus, paying the price for a weak performance in the [...]
Tuilagi cleared to join tour of South Africa May 29, 2012 ENGLAND have received a major boost after learning centre Manu Tuilagi has been cleared to tour South Africa following the dismissal of his citing by a Rugby Football Union disciplinary panel. Tuilagi’s eligibility to tour was in question after being cited for a ‘tip tackle’ on Harlequins’ scrum-half Danny Care early in Saturday’s Premiership final, [...]
How to get cheaper car insurance May 27, 2012 KNOWLEDGE is power. And the first thing to know about car insurance is that getting it is a negotiation. In any negotiation, access to information is rarely symmetrical. Those with greater knowledge have more power and in this instance it’s impossible to know more than each firm. This is why you need to shop around. [...]
HSBC pay plan opposed by 10 per cent of shareholders May 25, 2012 HSBC’s pay plan for directors was opposed by 10.2 per cent of shareholders at the bank’s annual meeting today, less than the previous year as Europe’s biggest bank avoided the kind of shareholder backlash seen by competitors. HSBC said 86.3 per cent of votes cast were in favour of the resolution on remuneration while 13.7 [...]
Bargain hunters help lift FTSE May 25, 2012 The FTSE 100 nosed up this morning as bargain hunters snapped up stocks which have been hit in recent sessions. On Monday the blue chip index was at a six-month low but has clawed back ground since then. Gains in Asia and on Wall Street overnight also served to lift sentiment. Insurer Aviva was the [...]
FTSE enjoys some breathing space as bargain-hunters prompt gains May 24, 2012 BRITAIN’S benchmark share index recovered yesterday from stinging losses during the previous session as bargain hunters snapped up beaten-down financial and commodities stocks, although traders said any rally could prove short-lived. The blue-chip FTSE 100 index closed up 83.64 points, or 1.6 per cent, to 5,350.05 points. It fell 2.5 per cent on Wednesday to [...]