Xstrata is this week set to reveal a bonus package worth tens of millions of pounds in an effort to retain Mick Davis, its chief executive, ahead of its merger with Glencore , the world’s biggest commodity trader.
KKR‘S INTEREST IN BHP DIAMOND MINE FADES
KKR has backed away from the sale of a BHP Billiton diamond mine, raising questions about demand for such assets, just as peer Rio Tinto starts work on a potential sale of its diamond division.
Newedge, a leading broker, is abandoning the Greek stock market in a sign of mounting concern over the country’s future in the euro zone.
BANKERS’ SALARIES UP 37 PERCENT IN FOUR YEARS
Investment banks globally have increased salaries by 37 percent over four years to retain staff and bypass regulation, burdening the sector with higher fixed costs at a time when profits are under constant pressure.
Michael Woodford, the whistleblowing ex-chief executive of Olympus, will seek up to $60 million of compensation from his former company at an employment tribunal hearing scheduled to start on Monday in east London.
Research In Motion, the Canadian manufacturer of BlackBerry smartphones, is expected to announce significant job cuts soon as part of a global shake-up designed to cut costs by $1 billion a year.
The Portuguese government has appointed financial advisers for the privatisation of large swaths of the country’s aviation industry, with stronger interest expected in its airport operator than in the main airline.
Unilever is attempting to reinvent “soap opera” sponsorship for the digital age by striking international, multimillion-dollar partnerships with media groups Viacom and News Corp.
Rabobank, the Netherlands-based financial services group, has appointed Barclays to advise on a possible sale of its fund management arm, Robeco, people familiar with the matter said.
FirstGroup’s longstanding chairman, Martin Gilbert, is facing calls to step down as the world’s largest listed rail and bus company by revenue seeks to regroup after a series of profit warnings stemming from falling margins in two of its most important divisions.
WesternZagros Resources, the Canadian oil explorer with assets in the Kurdistan region of northern Iraq, is considering plans for a London listing to help boost the valuation of its stranded oil and gas reserves.