Executive compensation continued to rise last year -- despite Occupy Wall Street's vociferous howling and gnashing of teeth -- and on average the pay of CEOs at S&P 500 companies increased 6 percent, according to a report by compensation-data company Equilar. While overall compensation for CEOs at S&P 500 companies rose by 6 percent, cash bonuses fell by 7 percent. Most companies based the payouts of their short-term incentive instruments, such as cash bonuses, on earnings and revenue, while nonfinancial goals became less important in determining executive compensation, Equilar reported
As Greek voters prepare to the go to the polls on Sunday and central banks around the world prepare to enter crisis mode if far left-wing candidate Alexis Tsipras wins and reneges on the country's bailout package, thus threatening euro zone solidarity, the Greek economy may slip into something resembling medieval Europe's Dark Ages. In recent days, international companies have been divesting their Greek branches, according to a report by the New York Times .
India n Finance Minister Pranab Mukherjee Saturday expressed confidence that the Reserve Bank of India would "adjust the monetary policy" on its mid-quarter monetary policy review June 18. Mukherjee, who is nominated by the ruling United Progressive Alliance to contest the presidential elections in July, said that the government "is taking fiscal measures to ensure that the central finances remain strong in wake of difficult times," PTI reported
Lack of infrastructural facilities in India n ports are negatively affecting exports as the ports are struggling to cope with commodity traffic. Ports are unable to handle the container and vessel traffic despite a decline in economy and exports. India has a 6000 km long coast line and 12 major ports and around 175 minor ports, according to the Indian Ports Association, in the 13 states (including the Union Territories)
Debt-riddled Italy is trying to raise €10 billion ($12.6 billion) by selling off state assets. To avoid an international bailout like those needed in Greece, Ireland, Portugal and Spain, Rome put three public companies -- credit agency Sace, industrial holding company Fintecna and the Simest investment company -- on the auction block on Friday and will be sold “within months," according to the Financial Times . Mario Monti's government also agreed on a number of “sustainable growth” measures that include investments in the construction industry, "green" economies and offshore oil and gas development.
The Obama administration will reportedly restrict hydraulic fracturing, or fracking, by promulgating a set of rules governing such practices on federal land. The Wall Street Journal reported Friday the Interior Dept. will soon unveil new rules for federal and Native American tribal lands in response to environmental concerns