The union which represents BT workers has announced a strike ballot has been scrapped due to a legal issue.
The vote for strike action came as senior executives were awarded huge bonuses which angered staff.
The Communication Workers Union (CWU) said it was balloting members in support of a 5% pay rise after what it called a [...]
According to reports, banking giant HSBC has bowed to shareholder pressure and abandoned plans to raise its chief executive’s salary.
The Financial Times said the bank had consulted shareholders on proposals to raise Michael Geoghegan’s salary by 36% to £1.4 million ($2.2 million).
The FT also reported that the bank had planned to up the salary of [...]
Chairman Roger Carr, chief executive Todd Stitzer and chief financial officer Andrew Bonfield of Cadbury have announced today that they will step down from the British confectioner.
The three bosses announced their resignations following a shareholder vote which will see US food giant, Kraft, takeover the 186-year-old iconic British company in a £11.5 billion ($18.9 [...]
The Obama administration is proposing to cut the salaries of top executives at firms which have received billions of dollars in Government aid.
The institutions that are affected are Bank of America, American International Group (AIG), Citigroup, General Motors, GMAC, Chrysler and Chrysler Financial.
According to reports, these seven companies will see their 25 highest paid [...]
Dutch banks have signed up to a new code of conduct limiting executive bonuses to 100% of salary.
Once the code comes into force, bankers’ salaries will have to be below the median for similar jobs, bonuses will have to be returned if a bank enters financial difficulty, and redundancy payments will be limited to one [...]