News Tag: bankers
February 25, 2010
The controversial subject of bankers’ pay has reared its ugly head again today after the chairman of US banking giant, Morgan Stanley, John Mack, said investment bankers are overpaid.
Sixty-five-year-old Mack, who recently stepped down as chief executive but remained chairman, has not taken a bonus for the past three years but received a salary of $800,000 last year.
Mr Mack, ...
Morgan Stanley chairman says bankers are overpaid
by Kay Murchie
February 23, 2010
Bonuses for Wall Street bankers grew by 17% to $20 billion (£13.2 billion) in 2009, according to figures from the New York state Comptroller Thomas DiNapoli.
The figures come at a time when US taxpayers are bailing out banks and Mr DiNapoli said: "For most Americans, these huge bonuses are a bitter pill and hard to comprehend."
He added: "Taxpayers bailed ...
Wall Street bonuses surge 17% on year
by Kay Murchie
February 11, 2010
Bill Nighy has pledged his support for a campaign to impose a "Robin Hood tax" on speculative financial transactions between banks.
The actor, famous for his roles in Pirates of the Caribbean and Love Actually, has joined forces with director Richard Curtis to make a three-minute film explaining how the tax would work.
In the film, Nighy plays a smug City banker ...
Bill Nighy supports Robin Hood tax campaign
by David Masters
December 21, 2009
State-owned conglomerate, Dubai World, is to meet with creditors today to discuss its debt repayment plan.
The company owes $59 billion of the country’s entire $80 billion debt mountain and is in need of restructuring.
This morning, the Dubai Financial Market lost 1.75% as the debt-laden conglomerate commenced talks with over 90 banks to secure agreement for a ...
Dubai World to meet creditors to discuss debt repayments
by Kay Murchie
December 16, 2009
French Finance Minister Christine Lagarde has today unveiled details of a 50% tax on bankers’ bonuses.
After a cabinet meeting today, Ms Lagarde told reporters that a bill detailing the new tax would be presented to parliament early in the New Year.
Any bonus above €27,500 (£24,000) will be taxed at a rate of 50% on payments given out in 2010, said Ms ...
France to introduce super-tax on bankers
by Kay Murchie
December 9, 2009
Today is the day of the Pre-Budget Report and Chancellor Alistair Darling will give more detailed plans about how the Government intends to halve the £180 billion deficit.
Moody's credit rating agency has warned that Britain is facing a "fiscal crisis" unless the Government takes action to pay off the debt or risk losing its treasured AAA credit rating.
Moody’s added ...
Pre-Budget Report: Chancellor told Britain facing ‘fiscal crisis’
by Kay Murchie
December 6, 2009
In the Pre-Budget Report this week, Chancellor Alistair Darling is expected to announce a windfall tax on British banks.
The measure is one of many being planned by Mr Darling to target high earners. Other measures include increasing the number of people liable to pay inheritance tax, as well as an increase in capital gains tax.
While the speculation will not ...
Plans for windfall tax on bankers’ bonuses
by Kay Murchie
RBS bankers join rival firms over bonus row
by Kay Murchie
October 7, 2009
Stephen Green, chairman of Europe’s largest bank HSBC, said the banking industry "owes the real world an apology" for the financial crisis.
In an interview with the BBC, Mr Green who is also a Church of England priest, said: “I think the change in the public perception of the industry is entirely understandable. The banking industry has not covered itself in ...
HSBC chairman: Banking industry “owes an apology”
by Kay Murchie
