When it comes to incentive pay schemes, it’s rare to encounter a scheme that strays from the ‘tried and trusted’ EPS and TSR performance measures. Anything that seeks to focus to a significant degree on extra-financial performance measures is for all practical purposes non-existent. As the debate on performance-related pay rumbles on, many investors are […]
Read MoreThe high-profile takeovers of ABN AMRO (by a consortium of Royal Bank of Scotland, Fortis and Banco Santander) and of Alcon by Rio Tinto have seen the acquirers scrambling to raise funding in recent months. Former RBS Chairman, Sir Tom McKillop, admitted to the Treasury Select Committee that the acquisition was “a bad mistake”, while […]
Read MoreThe Board of Satayam is understood to be taking steps to remove the Company’s auditor, PriceWaterhouseCoopers, following the failure by the audit firm to detect the €1.5bn fraud. The Company has not however confirmed the move, although The Times of India reported that the President of the Institute of Chartered Accountants of India, Uttam Prakash […]
Read MoreThe UK Shareholders Association (UKSA) has formed a group to represent the interests of ordinary shareholders in Northern Rock amid accusations that the bank failed to make required disclosures to investors about the severe financial difficulties it faced. UKSA believes many shareholders were persuaded to invest in the company in recent months as a result […]
Read MoreThe US Securities and Exchange Commission (SEC) has charged four more former executives of Nortel Networks, the communications company, with accounting fraud. The regulator is accusing former vice-presidents of Nortel’s optical, wireline, wireless and enterprise business units of manipulating reserves to manage the company’s earnings. Charges have already been brought against Nortel’s former chief executive, […]
Read MoreNearly 50% of the London Stock Exchange (LSE) has been purchased by rival sovereign backed firms from the Middle East. Borse Dubai and US exchange Nasdaq have reached an agreement that will allow Nasdaq to win control of Scandinavian exchange . In return, Borse Dubai will acquire the majority of Nasdaq’s 31% stake in the […]
Read MoreNasdaq, the US exchange, wishes to divest its 31% stake in the London Stock Exchange (LSE). Nasdaq built up its stake earlier this year during the course of an unsuccessful takeover bid, and earlier in August backed an LSE/Borsa Italiana merger that will significantly dilute this holding. Nasdaq said that it does not believe the […]
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