PRESS DIGEST- Financial Times - December 3
Dec 3 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Investment banks set to cut pay again despite rise in profits
Mediobanca hires veteran adviser to expand European operations
New rules for diverting UK pension contributions
PC sales headed for worst year on record
Chernin buys large stake in Crunchyroll
Rio Tinto pledges to cut capex by $6 billion in two years
An FT analysis reveals that the nine biggest investment banks are prepared to take pay cuts for the third time in three years. Investment banks would slash remunerations such as bonuses keeping in mind the interests of the shareholders.
Mediobanca is expected to announce the appointment of Barclays adviser Stefano Marsaglia as co-head of the bank's global corporate and investment banking unit with an eye to use its London office to expand operations in Europe.
The Pensions Regulator outlined on Tuesday a consultation paper on companies' approach on striking a balance between sustaining their business performance and funding their employees' retirement benefits.
International Data Corporation PC tracker says personal computer sales fall more than 10 percent and would be the most severe yearly contraction on record in 2013.
Former News Corp executive Peter Chernin has bought a stake in a specialist video streaming business Crunchyroll for about 100 million pounds.
Anglo-Australian mining group Rio Tinto pledged to cut capex by up to 20 per cent in each of the next two years as the company looks to woo investors.
- With no sign of missing plane, search spreads far across land and sea |
- Malaysia military source says missing jet veered to west |
- Toddler found with heroin at New Jersey daycare center
- Ukraine appeals to the West as Crimea turns to Russia |
- UPDATE 1-Missing Malaysian plane last seen at Strait of Malacca-source