WHAT THE OTHER PAPERS SAY THIS MORNING June 6, 2012 FINANCIAL TIMES Bank staff costs take bigger share of pot The world’s big international banks are paying out much more on staff costs relative to profits since the financial crisis while slashing the portion of income paid out in dividends, according to data compiled by the Financial Times. The findings come amid increasing shareholder complaints [...]
Chime sells off Bell Pottinger business May 31, 2012 CHIME Communications yesterday announced a management buyout of its Bell Pottinger businesses for £19.6m in cash and shares. Chairman Lord Bell and deputy chairman Piers Pottinger will pay £14.9m in cash and step down from Chime to run the new company, BPP Communications. Chime will hold a 25 per cent stake in BPP and a seat on [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 29, 2012 FINANCIAL TIMES Rockefellers and Rothschilds unite Two of the best-known business dynasties in Europe and the US will come together after Lord Jacob Rothschild’s listed investment trust and Rockefeller Financial Services agreed to form a strategic partnership. Kleinwort parent pressured to spin off assets The parent company of Kleinwort Benson, one of the oldest names [...]
WPP buys majority of Predictys May 29, 2012 Global advertising giant WPP yesterday announced KBM Group, one of its wholly-owned subsidiaries, has agreed to buy a majority stake in French marketing agency Predictys SAS. Predictys, which generated revenues of €3.36m last year and has gross assets of €3.1m, specialises in digital data and campaign technology.
WPP invests in Burma after sanctions end May 21, 2012 WPP yesterday announced it has bought a stake in a Burmese advertising agency just days after US sanctions on the Asian country were lifted. New York-based Ogilvy & Mather, a fully-owned subsidiary of global ad giant WPP, yesterday unveiled the purchase of a stake in Today Advertising, an agency in Myanmar. The firms did not specify [...]
WPP invests in Burma after sanctions end May 21, 2012 WPP yesterday announced it has bought a stake in a Burmese advertising agency just days after US sanctions on the Asian country were lifted. New York-based Ogilvy & Mather, a fully-owned subsidiary of global ad giant WPP, yesterday unveiled the purchase of a stake in Today Advertising, an agency in Myanmar. The firms did not specify [...]
Cable in plea to business after Hague attack May 14, 2012 VINCE Cable was forced to defend his cabinet colleague William Hague yesterday after a series of Conservative attacks on British business provoked outrage. Cable said “commercial diplomacy” is a major part of foreign policy as Hague came under fire from business leaders for telling them to stop “complaining” about the economy and “work harder”. “He [...]
Shareholder Spring claims new casualties May 10, 2012 THE SHAREHOLDER Spring continued to blossom yesterday as investors rejected another executive pay settlement. Pendragon, Britain’s leading car dealer, was forced to back down on plans to increase its directors’ pay packets after 67 per cent of shareholders voted against its remuneration report. Meanwhile almost half of Trinity Mirror investors voted against the proposed pay [...]
Shareholder Spring claims new casualties May 10, 2012 THE SHAREHOLDER Spring continued to blossom yesterday as investors rejected another executive pay settlement. Pendragon, Britain’s leading car dealer, was forced to back down on plans to increase its directors’ pay packets after 67 per cent of shareholders voted against its remuneration report. Meanwhile almost half of Trinity Mirror investors voted against the proposed pay [...]
Martin Sorrell pockets 60 per cent rise in pay April 30, 2012 SIR Martin Sorrell, the chief executive of advertising giant WPP, saw his overall pay package jump a whopping 60 per cent to £6.77m last year. Sir Martin’s base salary rose 30 per cent to £1.3m, and he also pocketed a £2m cash bonus, up from £1.9m last year. His deferred share bonus more than tripled [...]