LONDON Jan 14 Headlines
EU REDRAFTS PLAN FOR BANK RESCUE FUNDING
EU TO FOSTER UNIFIED TELECOMS MARKET
GOLDMAN EYES TAX DELAY ON UK BONUSES
IBERDROLA RETHINK ON SCOTTISH POWER SALE
INSURERS' CONTINGENT COMMISSIONS ATTACKED
Countries seeking aid from the euro zone's bank rescue fund,
the European Stability Mechanism, will still need to shoulder a
large part of the cost of future bailouts themselves, according
to a draft proposal.
The European Union will set out reforms this year to support
a pan-European telecoms market, said commission vice-president
Neelie Kroes in an interview.
Investment bank Goldman Sachs is planning to delay UK
bonus payouts until after April, when the top rate of income tax
falls to 45 percent.
Spanish utility Iberdrola has scrapped plans to
sell its stake in Britain's Scottish Power after recent asset
sales went better than expected.
Joe Plumeri, the outgoing head of insurance broker Willis,
criticised 'contingent commissions', the practice of insurance
brokers receiving payments from underwriters.