Business week in review
Sunday 07 April 2013
Let's get out of the City and London and focus on an Edinburgh-based investment firm.
Very, very in profit after the Easter holiday was David Nish, the chief executive at Standard Life. On Tuesday, it was revealed that he took home nearly £5m last year, over half of which came in the form of a long-term incentive scheme.
That means his pay package was almost double his 2011 deal. However, you can still feel for Nish: his basic salary was only up 1.9 per cent to £790,000, which is a similar increase to the rest of Standard Life's workforce.
Who'd heard of Anthony Salz until Wednesday? Well, quite a few people, to be fair, particularly in legal and media circles, having previously been senior partner at lawyers Freshfields and a vice-chairman of the BBC's board of governors.
But the legal eagle is even better known after publishing his internal review into the way Barclays does business, which found a culture of greed that values short-term gains over the interests of the bank's customers. Compelling reading.
Domino's Pizza boss Lance Batchelor thanked disgusting hot dog-stuffed crust pizzas for impressive first quarter sales on Thursday.
...at a loss
Ivan Glasenberg, the big man of the global mining industry, suffered a rare blow on Tuesday. The seemingly endless process of merging his sugar-to-zinc commodities trading empire, Glencore, with miner Xstrata is going to take longer still to finalise after Chinese authorities said they needed more time to approve the deal.
As a result, the £56bn deal's deadline date has been pushed back for a fifth time, on this occasion from 16 April to 2 May. Approval from China is crucial as the country is the biggest buyer of commodities minded and traded by Glencore.
When's it time for the revisionist "he was a saint really" potted history on Fred "the shred" Goodwin?
Not yet, as the ex-knight of the realm – oh yes, the press will gleefully mention that stripped "Sir" at any opportunity – was one of the former directors at Royal Bank of Scotland that were hit by a £4bn claim from disgruntled shareholders on Wednesday. The RBS Shareholder Action Group claims that directors misled investors over a 2008 rights issue.
Tullet Prebon boss Terry Smith admitted to a "not particularly vintage" 2012 as his pay and bonuses fell by nearly £1m on Thursday.
- 1 Tourist films plane's descent just metres above packed Caribbean beach
- 2 Kate Moss: Previously unpublished nude photo revealed by Mert and Marcus
- 3 Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
- 4 World Book Day: Boy 'excluded' from school after dressing up as Fifty Shades' Christian Grey
- 5 Bad Jews poster 'censored' on London Tube
Tourist films plane's descent just metres above packed Caribbean beach
Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
Becky Watts: Four appear in court charged with hiding body parts after teenager's death
Isis 'bulldozes' Nimrud: UNESCO condemns destruction of ancient Assyrian site as a 'war crime'
Professor Brian Cox brands astrology-believing Tory MP David Tredinnick an 'outlier on the spectrum of reason'
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Durham Free School: 'Creationism taught at' free school facing closure
End of the licence fee: BBC to back radical overhaul of how it is funded
Elif Shafak: Turkish author warns against rise of British nationalism
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
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