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Cut fat-cat pay before jobs, bosses are told

One of Britain’s most powerful investors has told bosses to take the axe to their bloated pay packets first if they intend to cut costs by slashing jobs. Aviva Investors, which manages £346billion of investments, has revealed it is urging boards to cut executive pay before making large scale redundancies. …

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BA owner IAG may ask investors for £1.5bn

IAG is is expected to launch an emergency fundraising over the next few weeks The owner of British Airways could be looking to raise up to £1.5billion of fresh cash, investors say. International Consolidated Airlines Group (IAG) is expected to launch an emergency fundraising – possibly by tapping investors via a …

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Film investors chase HSBC for £1.3bn

HSBC faces a £1.3billion legal claim for its involvement in a Disney film financing scheme set up to avoid tax. Investors were told that Eclipse Partnerships would exploit the rights to films, including Pirates Of The Caribbean 2 and 3, National Treasure 2 and Enchanted.  But the law firm Edwin …

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Business lobby groups demand cuts to National Insurance bill

Three major business lobby groups have demanded cuts to National Insurance bills in the mini-Budget next month. They have told the Treasury that reducing employment taxes would save jobs as firms battle the worst recession for 300 years. The Federation of Small Businesses, the Institute of Directors and the British …

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‘Scandalous’ RBS helped fraudsters cheat the taxman

Taxpayer-owned Royal Bank of Scotland was last night accused of ‘scandalous’ behaviour after the High Court decided it was involved in a £45million VAT fraud. The bank will now have to pay out tens of millions of pounds after a judge found it guilty of offering fraudsters ‘dishonest assistance’ in …

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HAMISH MCRAE: Big tick as the recovery begins

The mood has changed. You can feel a bustle in the streets. Yes, we are still cautious when we go into a shop. Yes, those of us who can are still working from home. And yes, things can’t really be normal if we can’t go out to the pub. But …

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‘Evil Knievil’ takes out a bet against Boohoo

Simon Cawkwell  has taken out a ‘substantial’ short position on online retailer Boohoo The investor known in the City as ‘Evil Knievil’ has taken out a bet against stock market darling Boohoo. Simon Cawkwell, who gained the nickname for placing risky bets on falling share prices, has taken out a …

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Sir Chris Hohn makes more than £100m from Wirecard’s collapse

Sir Chris Hohn’s fund is likely to have made about £100million from Wirecard’s share price collapse Chancellor’s Rishi Sunak’s former boss has made more than £100million from the collapse of German digital payments firm Wirecard. Sir Chris Hohn’s firm The Children’s Investment Fund placed a huge bet on Wirecard’s shares …

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