SAWIRIS BACKS OUT IN BID FOR EFG-HERMES
Naguib Sawiris, the Egyptian telecommunications mogul, has
decided against joining a consortium of investors attempting to
take over EFG-Hermes, the Middle East investment bank.
TAX 'FRAUD' TRIAL FOR EX-UNICREDIT CHIEF
Alessandro Profumo, former chief executive of UniCredit
, and 19 others must stand trial for alleged tax fraud
involving a scheme set up by Barclays, a Milan judge
said on Tuesday.
WPP'S SORRELL DEFENDS PAY PACKAGE
Sir Martin Sorrell, chief executive of WPP, has
issued a robust defence of his pay ahead of a showdown with some
big shareholders in the world's largest advertising group that
is shaping up as a test case for executive remuneration in the
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.
SPAIN MAKES EXPLICIT PLEA FOR BANK AID
Spain has made its most explicit call to date for European
institutions to recapitalise the country's banks amid concerns
about its own ability to raise the billions of euros needed on
sovereign bond markets.
FSA RELAXES SCRUTINY OF SOME FINANCIAL ROLES
The top City of London regulator is relaxing its scrutiny of
non-executive recruits to banks and other financial services
groups amid company complaints that the tests hinder them in
EX-FACEBOOK EXECUTIVE UNVEILS VIDEO CHAT SITE
Sean Parker, an early executive at Facebook, is
starting a video chat site because he thinks social media is
making people lonelier.