Corporate Governance

Chief executive pay jumps 11% to almost £4m last year

Image copyright Thinkstock Chief executive pay rose by 11% last year to almost £4m – much higher than rises for workers, a new report found. The rise came despite criticism from investors and government about excessive salaries, the Chartered Institute of Personnel Development (CIPD) said. The highest total payout was £47.1m for Jeff Fairburn, chief executive of housebuilder Persimmon. The GMB union called the findings a “badge of national shame”. According to the CIPD, the median pay for FTSE 100…

0
Read More

Cyrus Mistry case: NCLAT may pronounce interim order on August 20

Cyrus Mistry case: NCLAT may pronounce interim order on August 20 The National Company Law Appellate Tribunal (NCLAT) is likely to pronounce an interim order on August 20 on Cyrus Mistry’s plea seeking an interim stay on the proposed conversion of Tata Sons into a private company from a deemed public limited firm now. The appellate tribunal reserved its order in the matter on Tuesday after the conclusion of the arguments. It will decide at a later stage the Cyrus…

0
Read More

Ban shareholders of companies from holding management positions – Andani

Managing Director of Stanbic Bank Ghana Limited Alahassan Andani has called for a new regulation, which will ban individual majority shareholders from being part of the top management of firms they have invested in. It has emerged that interference by individual majority shareholders of liquidated banks in management positions contributed to their collapse.The Bank of Ghana last year allowed GCB Bank to purchase and assume the good asset and liabilities of UT and Capital Banks due to the lack of…

0
Read More

Ban shareholders of companies from holding management positions – Andani

Managing Director of Stanbic Bank Ghana Limited Alahassan Andani has called for a new regulation, which will ban individual majority shareholders from being part of the top management of firms they have invested in. It has emerged that interference by individual majority shareholders of liquidated banks in management positions contributed to their collapse.The Bank of Ghana last year allowed GCB Bank to purchase and assume the good asset and liabilities of UT and Capital Banks due to the lack of…

0
Read More

Fortis shareholders approve stake sale to Malaysia’s IHH

IHH is set to take control of Fortis after its bid of up to $1.1 billion was chosen by the board, giving it ownership of over 30 hospitals. Photo: Mint Mumbai: Fortis Healthcare Ltd shareholders have approved the company’s acquisition by Malaysia’s IHH Healthcare Bhd, the company said, ending prolonged uncertainty at the hospital chain that has faced corporate governance allegations, liquidity crunch, and various attempts to secure control. The company’s chief executive Bhavdeep Singh said the development was a…

0
Read More

Allentown Residents Can Find Affordable Dental Implants in Easton – Corporate Governance News Today

Allentown Residents Can Find Affordable Dental Implants in Easton – Corporate Governance News Today – EIN News Trusted News Since 1995 A service for global professionals · Tuesday, August 14, 2018 · 458,666,025 Articles · 3+ Million Readers News Monitoring and Press Release Distribution Tools Press Releases Events & Conferences Source link

0
Read More

Bank of Ghana plans to prosecute executives of failed banks

ACCRA, Aug 14 (Reuters) – Ghana’s central bank plans to prosecute executives of failed local lenders suspected of dissipating depositors’ funds and insider dealing, the regulator told Reuters on Tuesday. The Bank of Ghana on Aug. 1 said it had revoked the licenses of Unibank and smaller peers Royal Bank, Beige Bank, Sovereign Bank and Construction Bank, and had appointed a receiver to manage their assets because they had become insolvent. Deputy central bank governor Elsie Awadzi told Reuters the…

0
Read More

Musk working with Goldman Sachs to take Tesla private

Elon Musk Musk working with Goldman Sachs to take Tesla private Independent.ie Tesla chief executive Elon Musk tweeted on Monday that he was working with buyout firm Silver Lake and investment bank Goldman Sachs as financial advisers on his plan to take the US electric car maker private. https://www.independent.ie/business/technology/musk-working-with-goldman-sachs-to-take-tesla-private-37213967.html https://www.independent.ie/business/technology/article37213190.ece/5b951/AUTOCROP/h342/giveelon.JPG Email Tesla chief executive Elon Musk tweeted on Monday that he was working with buyout firm Silver Lake and investment bank Goldman Sachs as financial advisers on his plan to…

0
Read More

TLC Doses First Patients in Phase I/II Trial of TLC590 for Postsurgical Pain Management – Corporate Governance News Today

TLC Doses First Patients in Phase I/II Trial of TLC590 for Postsurgical Pain Management – Corporate Governance News Today – EIN News Trusted News Since 1995 A service for global professionals · Tuesday, August 14, 2018 · 458,632,619 Articles · 3+ Million Readers News Monitoring and Press Release Distribution Tools Press Releases Events & Conferences Source link

0
Read More

EPF has not incurred RM6.09 bln loss – Guan Eng – BorneoPost Online | Borneo , Malaysia, Sarawak Daily News

Lim Guan Eng – Bernama file photo KUALA LUMPUR: The daily movement of the FTSE Bursa Malaysia KLCI (FBM KLCI) does not have an impact on the dividends paid out by the Employees Provident Fund (EPF) as it is the policy of the retirement fund to declare dividends based on its net profit, said Lim Guan Eng. The Finance Minister said when compared to the original shares purchase price or book value, the EPF still recorded profits overall. “However, the shares…

0
Read More

PNB fraud fallout: Former MD Usha Ananthasubramanian dismissed on the day she was to retire

PNB fraud fallout: Former MD Usha Ananthasubramanian dismissed on the day she was to retire On the day she was to retire, Usha Ananthasubramanian, former chief executive and managing director (MD)of Punjab National Bank (PNB), was dismissed from service in connection with the $2.2-billion fraud at the state-run lender. Ananthasubramanian, who was shifted to Allahabad Bank as its MD last year, was at the helm of affairs at PNB for about 21 months through May 2017. She had also served…

0
Read More

Elon Musk says Saudis will provide funding for a Tesla buyout

“I left the July 31st meeting (with the Saudi fund) with no question that a deal with the Saudi sovereign fund could be closed, and that it was just a matter of getting the process moving,” Musk said. “This is why I referred to ‘funding secured’ in the August 7th announcement.” The Saudi fund over nearly two years had approached him repeatedly about taking the company private, Musk said, and the latest meeting came after it took a nearly 5…

0
Read More

Let’s collaborate to prevent collapse of banks – Internal Auditors

The Institute of Internal Auditors Ghana has charged external auditors to collaborate with internal auditors to ensure that firms follow controls and comply the necessary accounting standards. President of the Institute, Juliet Aboagye-Wiafe, said strong collaboration between internal and external auditors is likely to halt the breaches by management that resulted in the collapse of some seven Ghanaian controlled banks.  Some seven locally controlled banks have in recent times been liquidated due to the lack of good corporate governance practices and…

0
Read More

Let’s collaborate to prevent collapse of banks – Internal Auditors

The Institute of Internal Auditors Ghana has charged external auditors to collaborate with internal auditors to ensure that firms follow controls and comply the necessary accounting standards. President of the Institute, Juliet Aboagye-Wiafe, said strong collaboration between internal and external auditors is likely to halt the breaches by management that resulted in the collapse of some seven Ghanaian controlled banks.  Some seven locally controlled banks have in recent times been liquidated due to the lack of good corporate governance practices and…

0
Read More

PNB tightens corporate governance norms

NEW DELHI: With a view to further improve corporate governance and excellence, PNB is taking all required steps to check any kind of gap, loopholes and deviations in the system and procedures. “The bank has strong foundations and is committed to implement ethical standards besides tightening the norms wherever required despite demonstration carried out by officers’ associations/unions at some centres,” PNB said in a statement. The norms are being strengthened and standard operating procedures are being revisited, the bank said.…

0
Read More

‘Annual reports must detail steps to prevent sexual harassment’ – Canindia News

New Delhi, Aug 13 (IANS) All government and private companies will have to furnish in their annual reports the details of steps taken to prevent sexual harassment at the workplace as per the law. The Ministry of Corporate Affairs vide its July 31 notification has amended the Companies (Accounts) Rules, 2014 and inserted a clause which says that firms will have to include a “statement that the company has complied with provisions relating to the constitution of Internal Complaints Committee…

0
Read More
About

Business on the Web provides the latest Business News: Breaking Personal Finance, Company,  Financial and Economic News.

Our blogs are an excellent place for technology professionals to get up-to-date industry news. Blogging about the hottest education technology issues.

Social Links