Banks are furious. Last week they were caught off guard after Germany, under pressure from negotiators at the EU parliament, changed sides in the debate over bankers´ bonuses. A compromise agreement had been struck in Brussels. Now however the European Union wants the caps to extend to employees of European banks abroad. That would leave those who compete with Europe´s financial institutions as the sole beneficiaries. Aware of this France and Germany are said to be softening [3 Mar '13]
New management sometimes tries to leave its mark when it enters a company and so it will be with Andrew Mackenzie at miner BHP Billiton. However, as opposed to Marius Klopper, whom he will substitute, he is unlikely to unveil a world-beating takeover a few weeks into the job, points out The Times´s Danny Fortson. Rather, last week he announced to investors and employees that he will be 'battening down the hatches' ahead of what is likely to be a rough voyage. [3 Mar '13]
For a third day in a row, the FTSE 100 index rallied in afternoon trade on the back of strong economic figures from America, as investors temporarily shrugged off concerns about the automatic spending cuts which kick in later today. [1 Mar '13]
Outsourcing group Capita continued to be a high riser having said that it has acquired debt recovery specialists iQor Holdings UK and subsidiaries (iQor UK) for an enterprise value of 42m pounds. [1 Mar '13]
Lloyds was one of the worst performing constituents on the FTSE 100 on Friday afternoon on speculation that the government is looking to sell its stake in the lender at a lower price than when it bailed out the bank five years ago. [1 Mar '13]
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