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Tag: bosses

Firms will have to justify pay gap between workers and bosses

Firms will have to justify pay gap between workers and bosses

Business
The country's biggest public businesses may soon have to publish the gap between the pay of their chief executive and an average worker.Business Secretary Greg Clark says directors of all companies with more than 250 employees will be required to disclose and explain this difference - known as the "pay ratio".Equal pay campaigners, business and investor groups welcomed the plan.But the TUC said it was "a first step" and even tougher rules were needed.In recent years shareholders have become increasingly vocal over executive pay levels, and have voted against what they see as excessive pay awards, most notably the high sums paid to former WPP boss, Sir Martin Sorrell. But top level remuneration, particularly chief executives, is often linked to the perform...
American firms reveal the gulf between bosses’ and workers’ pay

American firms reveal the gulf between bosses’ and workers’ pay

Finance
[unable to retrieve full-text content]HOW much should company bosses be paid relative to their employees? It depends who you ask. Plato argued that the richest members of society should earn no more than four times the pay of the poorest. John Pierpont Morgan, a banker from America’s gilded age, reckoned that bosses should earn at most 20 times the pay of their underlings. Investors today hold chief executives in vastly higher esteem. According to new filings submitted to the Securities and Exchange Commission (SEC), America’s largest publicly listed firms (those worth at least $ 1bn) on average paid their chief executives 130 times more than their typical workers in 2017. The figures are being disclosed by firms in their financial filings for the first time this year.The SEC’s new require
Carillion bosses drove construction firm off a cliff, say MPs

Carillion bosses drove construction firm off a cliff, say MPs

Business
Media playback is unsupported on your device Carillion's board presided over a "rotten corporate culture" and was culpable for its "costly collapse", two committees of MPs have concluded.They also called for a potential break-up of the big four audit firms, after they "waved through" the indebted construction firm's accounts. And they attacked the government for lacking "decisiveness and bravery" to tackle corporate regulation failures.The MPs said regulators should consider disqualifying the directors.Carillion collapsed under a £1.5bn debt pile in January. It employed 43,000 people, about 20,000 of them in the UK, thousands of whom have lost their jobs.It also held numerous public contracts, such as the maintenance of schools and priso...
'Family-friendly' plots to return to Coronation Street, say bosses

'Family-friendly' plots to return to Coronation Street, say bosses

Entertainment
ZENPIX LTDPLOT: Corrie bosses promised to bring back storylines that will 'cater for everyone'Corrie bosses promised the ITV soap would “cater for everyone” after being blasted over recent dark plotlines.They said Coronation Street will still feature “high drama”.But it will be “balanced out with the emotional family domestic drama” which was “Corrie at its best”.And they even promised some “comedy”.GettyDRAMA: Murderous Pat Phelan is set to suffer his 'demise', say bosses “As long as we cater for everyone in the mix then I think we’re doing OK” Kate OatesBut the long-running soap will still feature hard-hitting storylines – for now.Weatherfield chiefs yesterday filmed a mass brawl as David Platt and pal Josh came to the aid of Alya when she spotted the racist Parker br
Kids Company bosses seek voluntary board bans

Kids Company bosses seek voluntary board bans

Business
The former trustees of Kids Company are seeking to avoid court action by agreeing to voluntary boardroom bans in the aftermath of its collapse.Sky News has learnt that lawyers for a number of the charity's ex-directors are in talks with the Government's Insolvency Service about giving formal undertakings not to serve as company directors for several years.The individuals seeking to offer such undertakings are thought to include Alan Yentob, the former BBC creative director who chaired Kids Company's trustees, although he could not be reached for comment this weekend.:: Kids Company bosses face bans of up to six yearsAccording to guidance published by the Insolvency Service, individuals who are subject to proceedings to ban them can either defend the case in court or offer a "disqualificati...