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Barclays bank pay packages excessive - Cable
Mar 11th, 2012
NEWCASTLE, England (Reuters) - Multi-million pound pay deals for the chief of Barclays and other executives of the British bank are excessive and unjustified, Business Secretary Vince Cable said on Saturday, calling on its shareholders to take action to curb huge payouts. But the government would not intervene over high payouts to executives at taxpayer-owned Royal Bank of Scotland, because it wanted to avoid micro managing the lender, rescued by a state bailout during the 2008 credit crisis, he said in an interview. ... (Source: Reuters) -
(Reuters) - Citigroup Inc has sued Barclays Plc to recover more than $141 million for providing foreign exchange services to a unit of Lehman Brothers Holdings Inc soon after Lehman's bankruptcy. The complaint filed late Monday in the U.S. District Court in Manhattan related to Citigroup's role in the Continuous Linked Settlement system, ... [Full Article]
(Reuters) - SoftBank Corp would appoint a "security director" to Sprint Nextel's board if its takeover bid succeeds, and would give the U.S. government the right to approve the nominee, an attempt to address security concerns raised by the proposed deal. Sprint said in a filing with the U.S. Securities and Exchange Commission on May ... [Full Article]
MADRID (Reuters) - Telefonica has signed a new contract with Spanish cable operator ONO allowing it to use its network for another 2-1/2 years to sell on phone services, a source familiar with the deal said on Monday. ONO and rival Jazztel, known as virtual operators because they do not own networks, are making headway in an increasingly competitiv... [Full Article]
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