Covid vaccine maker passes its remuneration policy but suffers sizeable rebellion
AstraZeneca has suffered a substantial shareholder rebellion over proposals to hand its chief executive, Pascal Soriot, bigger bonus awards for the second consecutive year.
Nearly 40% voted against the policy, which could hand him pay and perks of nearly £18m for 2021.
Continue reading...The hedge fund manager earns Britain’s biggest salary. He also avoids meat, likes yoga and supports Extinction Rebellion
Hedge fund manager Sir Chris Hohn once made a point of telling a high court judge that he was an “unbelievable moneymaker”. This week Hohn proved his point – definitively – when it was revealed that he paid himself just shy of £1m-a-day last year.
Hohn collected $479m (£343m) in annual dividend payments from his The Children’s Investment (TCI) fund in the biggest ever personal payday in the UK after doubling profits at his Mayfair hedge fund, run from an office a couple of doors down from Louis Vuitton’s flagship store.
Continue reading...Vast gap in earnings described as ‘unfair’ and ‘repugnant’ by trade union leaders
Bosses of top British companies will have made more money by teatime on Wednesday than the average UK worker will earn in the entire year, according to an independent analysis of the vast gap in pay between chief executives and everyone else.
The chief executives of FTSE 100 companies are paid a median average of £3.6m a year, which works out at 115 times the £31,461 collected by full-time UK workers on average, according to research by the High Pay Centre thinktank.
Continue reading...Adviser Pirc says Musk’s pay and Twitter outbursts pose ‘serious risk of reputation harm to the company’
Tesla investors are being urged to vote to remove Elon Musk, the electric vehicle company’s founder and chief executive, from the board of the firm as anger mounts over his bonus deal that could pay him a record $55.8bn (£40bn).
Pirc, an influential adviser to shareholders, including the UK’s local authority pension funds, on Tuesday recommended that investors voted against Tesla’s executive pay deal because it “unfairly enriches the chief executive”.
Continue reading...More than a dozen prominent US billionaires are calling for a new government tax on extreme wealth to help combat income inequality, provide funding for climate change initiatives and range of public health issues.
Related: Bernie Sanders confronts Walmart bosses and urges $15 an hour minimum wage
Continue reading...Preventing Iran’s oil from reaching the market will raise oil prices and US business costs
The past two and a bit years have shown that it is naive to expect Donald Trump’s strategic and economic policies to demonstrate coherence. Even so, the lack of joined-up thinking in the decision to end the waiver against sanctions from nations that buy oil from Iran takes some beating.
Related: US toughens stance on Iran, ending exemptions from oil sanctions
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