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.
In the wake of mounting economic hardship for Britons, Work and Pensions Secretary Iain Duncan Smith urged residents to get jobs and fend for themselves rather than rely on state benefits and handouts. Speaking on Thursday, he said the former Labor government's strategy to funnel more than $150 billion into tax credits and benefit payments between 2004 and 2010, snowballing the welfare bill by 40 percent even in a decade of buoyant growth and employment, hasn't done much to alleviate the incidence of child poverty
MARKET Closing (4.30pm AEDT) The Australia n sharemarket completely wiped out the modest gains recorded yesterday, with the All Ordinaries Index (XAO) falling 0.4 pct or 15.6 pts to 4365.6.
The release of Chilean Q4 GDP data on Monday confirms that the economic slowdown in late 2011 was not as marked as many had initially feared, according to Capital Economics. Going by the report of Capital Economics the most recent monthly indicators suggest a pick-up in activity in Q1
(Reuters) - Early bids at an auction to decide the payout due to Greek bondholders who are insured against default showed investors fear for the country's financial future even after a debt restructuring and aid packages. The first phase of Monday's auction fixed a price of 21.75 cents in the euro for a selection of Greek bonds, broadly in line with market expectations. The second stage of Monday's auction will set the final price, or recovery rate
The Israel i officials have agreed with the U.S.