LONDON (Reuters) – Broker Tullett Prebon (TLPR.L: Quote, Profile, Research) is to let some senior staff delay bonus payments until April, meaning they can benefit from a tax cut for Britain’s best paid.
Although in no way unlawful, that could be controversial at a time British politicians and voters are focused on the tax affairs of wealthy individuals and big businesses.
LONDON, Jan 28 (Reuters) – British broker Tullett Prebon
has offered some senior executives the opportunity to
delay receiving bonuses until April to take advantage of a cut
in income tax for top earners, a source inside the company told
Such an offer would not be unlawful, but could be
controversial at a time British politicians and voters are
focused on the tax affairs of wealthy individuals and big
LONDON (Reuters) – As Silvio Berlusconi’s pre-election media blitz intensifies, so do fears of a costly detour from Italy’s road back to economic strength.
Yields on short-term Italian debt, which have fallen sharply, are creeping up again, reflecting concerns that the billionaire tycoon, who lost power at the peak of Italy’s fiscal woes in 2011, could have a big influence on the election outcome.
LONDON (Reuters) – British police have arrested a trader at asset manager Schroders and four other men and women in the latest swoop on suspected insider dealing as part of a regulatory crackdown on market abuse.
The Financial Services Authority (FSA) said on Tuesday two men, aged 37 and 62, and three women, aged 39, 51 and 63, were being questioned after police and prosecutors searched four properties in London and other parts of England.
LONDON (Reuters) – Growing anger at aggressive tax avoidance by big business has prompted ethical investors to consider shunning shares in companies that don’t pay their fair share of tax.
As governments struggle to balance massive budget deficits caused by the financial crisis, reports that big companies like Apple (AAPL.O: Quote, Profile, Research, Stock Buzz), Google (GOOG.O: Quote, Profile, Research, Stock Buzz) and Vodafone (VOD.L: Quote, Profile, Research, Stock Buzz) pay minimal taxes in some big markets have sparked public protests in Europe and the United States.
LONDON, Jan 17 (Reuters) – Top shareholders in crisis-hit
Rio Tinto have identified an unusual scapegoat for the
hapless takeovers that triggered the company’s eye-watering $14
billion writedown – each other.
Chief Executive Tom Albanese, who led a top-dollar purchase
of the Alcan aluminium group, and Doug Ritchie, the executive
who secured Mozambican coal business Riversdale, both lost their
jobs on Thursday after Rio confessed how badly their deals had
LONDON (Reuters) – How durable is the Wall Street bounce following last week’s U.S. budget deal? Not very, some speculators believe.
Hedge funds are betting that a rally in U.S. stocks after a retreat from the “fiscal cliff” will reverse as doubts grow that politicians are ready to sacrifice party interests to keep the world’s economic engine running, early data shows.
LONDON/NEW YORK (Reuters) – Apax Partners LLP has told its private equity investors it will stop fundraising for its latest buyout fund in March and may not reach its initial 9 billion euro ($11.9 billion) fundraising target, a person familiar with the matter said on Thursday.
The London-based private equity firm has been trying to address investors concerns over fund performance as well as staff turnover, after Reuters reported in June that more than half of its senior dealmakers left over the last five years.
LONDON, Dec 20 (Reuters) – Private clients who have stood by
UBS through repeated scandals will have their faith
tested by the Swiss bank’s admission of rate rigging, investors
Chief executive Sergio Ermotti is winding down much of UBS’s
riskier investment banking arm and believes a return to managing
money for the global rich will allow it to earn its way out of
LONDON (Reuters) – UBS’s wealth management business will help it bounce back from a $1.5 billion rap for rigging interest rates, one of its largest investors said, although fears of costly civil lawsuits could cast a pall over its shares for some time.
Paras Anand, European equities head at Fidelity Worldwide Investment, said legal action sparked by the Libor scandal posed an unpredictable threat to the bank’s near-term earnings, even if its core private banking franchise escaped permanent harm.