What the Sunday papers said
Monday 18 June 2012
The Independent on Sunday: Promoter slams BBC's rock festivals 'funded by taxpayers'
Vince Power, the rock festivals promoter, has launched a furious campaign against the BBC for putting on so many free festivals. Events like the Hackney Weekend, headlined by Rihanna, are putting big acts off starring in commercial events, like his Hop Farm festival, he claims. Record companies prefer their stars to play BBC gigs because of the big airplay they generate.
The Mail on Sunday: Big losses loom for Magnier and McManus in care homes sale
The care homes business backed by John Magnier and JP McManus, the bloodstock tycoons, could be sold in a deal triggering major losses for the duo. Castlebeck, hit last year by claims of abuse by staff against patients, is working on plans which could lead to a break-up or outright sale of the group. A bid would valued at far less than the £255m buyout price in 2006.
The Sunday Times: City watchdog condems banks' staff rewards for misselling
The Financial Services Authority is to issue a damning report into the way banks' commission payments effectively reward staff for selling inappropriate products to customers. However, it has held back from imposing new rules or guidance. The report highlights how banks had big incentives for staff to sell often worthless products such as payment protection insurance.
The Sunday Telegraph: Xstrata under pressure to cut massive pay deal for Davis
Xstrata directors are under increasing pressure to cut the £29m golden handcuffs deal for the chief executive, Mick Davis, which they see as crucial to make the merger with Glencore work. The retention bonus has angered investors as it means that Mr Davis will pocket £10m a year for three years regardless of performance.
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