…as its boss survives a crucial vote on controversial pay plan September 2, 2009 DSG yesterday succeeded in passing a resolution at its annual meeting, asking shareholders to pass a share option that would enable directors to sacrifice up to 25 per cent of their salaries in exchange for options worth £3 for every £1 they contribute. The scheme will allow chief executive John Browett to replace a quarter, [...]
Insurers to support plans to hand them welfare state role July 26, 2009 THE INSURANCE industry will today throw its full backing behind a key government report set to pave the way for the industry to take on a £17bn chunk of the Treasury’s welfare state obligations. Stephen Haddrill, director-general of insurance body the ABI, said the report should help the industry boost its strength significantly over the [...]
CITY VIEWS: SHOULD BRITISH AIRWAYS CHARGE FOR IN-FLIGHT MEALS? July 29, 2009 ABI COOPER LAING O’ROURKE“Yes, I think it will affect the number of people who fly with them. I suppose it does depend on the journey length, however, as budget airlines already charge for in-flight meals. Perhaps passengers used to short-haul flights with these airlines won’t mind.” ZAIN HIRANI STANDARD BANK“I think it’s a small thing [...]
C&W investors urged to block directors’ pay July 7, 2009 CABLE & Wireless (C&W) is under pressure again over pay deals offered to directors, after advisory firm Pirc urged investors to oppose plans to extend a controversial incentive plan. The plan, which also came under fire from a top 10 shareholder, has led to a “red top” alert from the Association of British Insurers (ABI), its [...]
RBS chief Hester alters pay deal in bid to placate critics July 1, 2009 ROYAL BANK of Scotland chief executive Stephen Hester yesterday pledged to defer cashing incentive shares worth up to £3.4m for an extra two years in an attempt to defuse outrage over his controversial pay package. Hester’s overall package is potentially worth £9.7m, RBS said last week, drawing fire from politicians and trade unions who said [...]
RBS chief Hester alters pay deal in bid to placate critics July 1, 2009 ROYAL BANK of Scotland chief executive Stephen Hester yesterday pledged to defer cashing incentive shares worth up to £3.4m for an extra two years in an attempt to defuse outrage over his controversial pay package. Hester’s overall package is potentially worth £9.7m, RBS said last week, drawing fire from politicians and trade unions who said [...]
HOW WOULD WALKER’S PROPOSALS AFFECT YOUR SECTOR? July 16, 2009 ANGELA KNIGHT BRITISH BANKERS’ ASSOCIATIONThese recommendations stem from the actions that a number of banks and other financial institutions have already put in place. These proposals would effectively bring all firms’ governance up to the standards of the best and are therefore to be welcomed.PETER MONTAGNON ABI (INSURANCE)This is a valuable contribution to the debate [...]
ARE YOU SATISFIED WITH CONSERVATIVE PROPOSALS ON REGULATION? July 20, 2009 ANGELA KNIGHT CHIEF EXECUTIVE, BBAWe’re pleased to see the highlighting of the European dimension within these proposals. There has to be a higher degree of engagement at a senior level with European authorities. We want to see a proportionate and stable regulatory framework that ensuresthe industry can compete.RICHARD LAMBERT DIRECTOR GENERAL, CBIThis is a very [...]
ARE YOU SATISFIED WITH CONSERVATIVE PROPOSALS ON REGULATION? July 20, 2009 ANGELA KNIGHT CHIEF EXECUTIVE, BBAWe’re pleased to see the highlighting of the European dimension within these proposals. There has to be a higher degree of engagement at a senior level with European authorities. We want to see a proportionate and stable regulatory framework that ensuresthe industry can compete.RICHARD LAMBERT DIRECTOR GENERAL, CBIThis is a very [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 17, 2009 FINANCIAL TIMES UK RAISES OPEL ‘SUBSIDY WAR’ FEARLord Mandelson called on Brussels last night to ensure that Germany’s offer of multibillion-euro subsidies to smooth the sale of General Motors’ European arm does not begin a “subsidy war”, with governments using state aid to protect jobs. The UK business secretary’s intervention in the political row over [...]