In brief: HSBC to announce bonuses and profits; Staff turnover costs Britain £4.1bn; PIC takes on Dynochem liabilities

HSBC to announce bonuses and profits

HSBC could re-ignite the controversy over bonuses with chief executive Stewart Gulliver in line for up to £12m when the bank reports its 2013 results today. Investors have seen the value of their holdings falling by 9 per cent in 2013 and the dividend is expected to come in at around 31p.

Staff turnover costs Britain £4.1bn

Staff turnover costs Britain £4.13bn a year, according to a report by Oxford Economics and the insurer Unum. It costs an average of £30,614 to replace a departing employee. That is £5,433 for agency fees, advertising and interviewing, plus £25,182 over the time that new hires take to hit full productivity.

PIC takes on Dynochem liabilities

A firm run by some of the financial services industry’s best-known names has agreed to take on £15m-worth of pension liabilities at Dynochem. Pension Corporation, chaired by Sir Mark Weinberg, will assume responsibility for the retirement savings of 100 pensioners at the wood flooring specialist.