Kentz shareholders latest to slam pay plans May 16, 2014 Shareholder spring has sprung bolder than ever for engineering firm Kentz. A huge 58 per cent of shareholders casting votes at the annual general meeting opposed its pay policy, or chose to abstain from voting. Moreover, 45 per cent also opposed its remuneration report. While the pay policy covers plans for paying staff over the [...]
Shareholder spring is back May 15, 2014 MEMORIES of 2012’s shareholder spring returned yesterday as investors rallied against the pay packages and policies of top British firms. Hiscox was hit hardest after 42 per cent of its voting shareholders failed to support the specialist insurer’s remuneration policy – the biggest protest vote so far this year – after it didn’t cap the [...]
What the other papers say this morning – 15 May 2014 May 14, 2014 FINANCIAL TIMES Sanctions put squeeze on Russia Russian companies are facing tougher lending restrictions from western banks as sanctions against the country start to bite. Banks are insisting that new loans to Russian businesses that are not directly targeted by sanctions carry clauses forcing immediate repayment or default if sanctions affect those companies. “If someone [...]
London silver fix to lose its lustre in August May 14, 2014 ALMOST 120 years of trading history will come to an end in August, when one of the last setters of the London silver fix market – an integral part of the city’s £1 trillion-a-year silver market – gets rid of its seats. Deutsche Bank said yesterday that it had agreed with the Financial Conduct Authority [...]
HSBC rows back over chairman’s bonus to appease shareholders May 14, 2014 HSBC has rowed back on plans to award chairman Douglas Flint a £2.25m bonus share package, amid rising anger from its shareholders. Instead, the bank said it would pay Flint a one-off £1.06m sum to reflect his increased workload, largely on regulatory issues. The bonus amounted to 44 per cent of Flint’s pay package, which [...]
Capital & Counties raises £258m for its Covent Garden expansion May 14, 2014 CAPITAL & Counties (Capco) raised £258m through a share placing yesterday as it looks to ramp up investment in its £2.3bn Earls Court and Covent Garden estates. Proceeds from placing will help fund a £85m development between King Street and Floral Street in Covent Garden, where it plans to create a public courtyard with shops, [...]
Real wage growth back for first time since 2010 May 14, 2014 Real wage growth is back, but it's weaker than we'd expected. Last month we saw some convincing signs of its return in the Office for National Statistics' volatile single month figures. This morning's Office for National Statistcs data confirms that early indicator, with average earnings up by 1.7 per cent in the three months to [...]
Weaker retail sales cast shadow over growth outlook for the US May 13, 2014 US RETAIL sales grew by a meagre 0.1 per cent in April, a shadow of the previous month when sales jumped by a revised 1.5 per cent. Sales in April were four per cent higher than a year earlier, the Commerce Department said, but still disappointed investors. Analysts at HSBC had expected sales “to turn [...]
US rebound evaporates as retail sales slump May 13, 2014 Not the number analysts were looking for. US retail sales grew by a meagre 0.1 per cent in April, a shadow of March's estimated 1.5 per cent leap (which has today been revised down to 0.4 per cent). Analysts at HSBC expected sales "to turn in a solid performance, as households continued to make up [...]
Why investors are fixated on just one number this afternoon May 13, 2014 It's a pretty sparse calendar for traders today, and one data point stands out head and shoulders above the rest. US retail sales numbers will be released at 1.30pm, and they'll help to decode a pretty messy picture. Their strength will give an indication of the strength of the US economy, now that it's clear [...]