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Gallup: Family of four needs an average $58,000 a year
LONDON, May 7 (UPI) -- British Business Secretary Vince Cable said he welcomed shareholder challenges to excessive pay for company executives.
Cable said shareholders taking responsibility for communicating their opinions on pay to company board members was "exactly the way to deal with this issue."
Shareholders in Britain are poised to challenge excessive executive pay at a number of companies, following similar revolts at Barclays, Aviva and Trinity Mirror, The Daily Telegraph reported Monday.
At bookmaking firm William Hill, shareholders are objecting to Chief Executive Officer Ralph Topping's $1.9 million retention bonus, which company Chairman Gareth Davis defended as "quid pro quo."
Advertising firm WPP has been put on the defensive concerning a $21 million pay package for CEO Marten Sorrell.
"If Britain wants world leaders like WPP, or more WPP-like companies, there has to be recognition of pay for performance and the global competitive position. Otherwise we will be relegated to the second division," said a company spokesman.
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NEW DELHI, May 20 (UPI) --
The US Department of Energy's conditional approval a Texas liquefied natural gas terminal to export to nations that do not have a free trade agreement with the United States is seen as a potential boost for India's energy security.
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TEL AVIV, Israel, May 20 (UPI) --
Israel's high-tech defense industry leads the world in exporting unmanned aerial vehicles.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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