Will He Or Won't He ? - Top Firm Boss Mulls Base Pay Rises
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The Evening Standard reports that Royal Bank of Scotland (RBS), the bailed-out bank which has shelled out almost $500,000 for a corporate hospitality suite at the Wimbledon Tennis Championships, is taking great care to keep a low profile and stay out of the hands of the raging mob (the UK taxpayers to you and me).
Apparently, in addition to the usual tight security, Wimbledon officials have been told not to divulge the whereabouts of the suite to those not 'in the know', and the RBS name and branding has been removed from public view. Perhaps a little OTT given that the All-England Club is unlikely to have any mob-types at the Championships.
The New York Times reports that The American Federation of State, County and Municipal Employees, the biggest public employees union in the US, has spoken out against the recently-announced 50% pay rises Citi is granting to some of its staff. Various pension plans for the Unions members are said to own 3% of the firm's stock.
And Reuters reports that State Street has said that it could face civil charges by US market regulator The Securities and Exchange Commission over losses investors sustained in connection with investments in mortgage-backed securities. The firm set-aside some $618m in 2007 for costs in respect of losses sustained in this area.
Finally, The Financial Times reports that investors are wary that the recently-announced share offerings planned by Daiwa Securities and Mizuho Financial will be dilutive to the firms' shares.
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