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.
Children's bookseller wins The Independent's new author search
Board creates magnetic field to achieve lift
- 1 Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
- 2 Banksy arrest hoax: Internet duped by fake online report claiming artist's identity has been revealed
- 3 Former East 17 frontman Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
- 4 Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
- 5 Paralysed man Darek Fidyka walks again after treatment by British doctors on brink of 'cure'
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Jose Manuel Barroso warns David Cameron against making 'historic mistake' over immigration reforms
Worst Airports of 2014: Poll names Islamabad airport in Pakistan worst in the world
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