Standard Life's Xstrata block

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The Independent Online

Standard Life Investments, one of the 10 largest shareholders in Xstrata, is to vote against a pay plan tied to the miner's $33bn (£21bn) takeover by commodities trader Glencore, arguing the plan is unnecessarily greedy.

Standard Life Investments will block plans to offer Xstrata executives "golden handcuffs" worth many millions of pounds.