How executive pay regulations can increase inequality – not reduce it May 7, 2014 IN JUST two months, Thomas Piketty’s Capital in the Twenty-First Century has taken the world by storm. In it, he argues that substantial increases in inequality can only be reversed through government intervention. Piketty’s own suggestion is a 2 per cent annual wealth tax, and income tax rates of up to 80 per cent. In [...]
Standard Life backs BP executive pay for second time in nine years April 10, 2014 MAJOR BP shareholder Standard Life yesterday said it would back the oil company’s executive pay report for just the second time in nine years, after it called on the remuneration committee to beef up its targets. “Over the last year we have engaged with the company about our concerns and I’d like to place on [...]
Ladbrokes to link executive pay to responsible gaming measures February 23, 2014 LADBROKES is planning to link executive pay with responsible gambling criteria in response to government pressure over fixed-odds betting terminals, the e-gaming giant will announce today. According to Sky News, chief executive Richard Glynn wrote to gambling minister Helen Grant and certain industry stakeholders last Friday to inform them that Ladbrokes will start linking executive [...]
FTSE boards lash out at fresh rules on executive pay votes September 29, 2013 NEW CHANGES coming into force on executive pay tomorrow are unworkable, according to a survey of FTSE board members. The rules, which were announced by business secretary Vince Cable last year, are designed to give shareholders a binding vote on board pay, golden goodbyes, and the hiring of new directors. The change also ensures that [...]
Barclays shareholders revolt with a quarter voting against executive pay deals April 27, 2012 Barclays chairman Marcus Agius (pictured) has apologised to shareholders for badly communicating its pay policy to them, and promised higher dividends in future in an attempt to take the sting out of a row over the bank’s remuneration policy. More than a quarter of shareholders voted against remuneration packages including a multi-million pound deal for [...]