RBS shareholders angry about prospective pay deal for new CEOLONDON — Shareholders in Royal Bank of Scotland PLC reacted angrily Monday to a prospective pay deal for the new chief executive, which would give Stephen Hester a total of 9.6 million pounds ($15.7 million) if he succeeds in turning around the ailing bank. Germany passes law limiting executive pay; excessive bonusesBERLIN — Germany passed a law Thursday that limits the salaries top executives are allowed to earn and encourages companies to focus on long-term strategies and performance. Couple at the center of infidelity scandal suggest more behind Sen. Ensign’s accountLAS VEGAS — Sen. John Ensign has been quick to describe his dalliance with an aide in brief and simple terms. The affair is over. The apologies made and accepted. No questions will be answered, the married Nevada Republican said in his brief admission of infidelity. Couple at the center of infidelity scandal suggest more behind senator’s accountLAS VEGAS — Sen. John Ensign has been quick to describe his dalliance with an aide in brief and simple terms. The affair is over. The apologies made and accepted. No questions will be answered, the married Nevada Republican said in his brief admission of infidelity. Ex-campaign aide to Sen. John Ensign confirms her involvement in extramarital affairWASHINGTON — A former campaign aide to Sen. John Ensign confirmed her involvement Wednesday in an extramarital affair with the conservative Republican, lamented his decision to “air this very personal matter” and said she eventually would tell her side of the story. Nevada Senator Ensign resigns from Republican leadership after admitting affairWASHINGTON — A former campaign aide to Sen. John Ensign confirmed her involvement Wednesday in an extramarital affair with the conservative Republican, lamented his decision to “air this very personal matter” and said she eventually would tell her side of the story. Cash crunch forces national carrier Air India to defer $70 million in wages for 2 weeksMUMBAI, India — Air India, India’s national carrier, will defer salary payments for its 31,000 employees by two weeks due to a cash crunch born of tepid demand and overcapacity, the company said Monday. With fiscal meltdown looming, California lawmakers debate blueberries and pomegranatesSACRAMENTO, Calif. — What budget crisis? NKorea demands 3,000 percent hike in rent from South Korea for site of industrial parkSEOUL, South Korea — North Korea demanded a 3,000 percent hike in rent Thursday from South Korea for the site of a joint industrial park at the center of a dispute roiling their relations. It also sought a more than fourfold increase in wages for North Korean workers employed by South Korean companies at the park, an official said. Harvard, Yale, Princeton and the rest take a back seat to Clemson … Clemson’s president saysCOLUMBIA, S.C. — Move over Harvard, Yale, Princeton — and every other college. Asked to rate other universities for the influential U.S. News & World Report rankings, Clemson University President James Barker put his institution on top. Efforts to impeach federal judge convicted of lying about sexual assaults move quicklyWASHINGTON — A House panel has voted 10-0 to recommend impeachment of a federal judge from Texas who has been convicted of lying about sexual assaults of two female employees. UN chief urges Iraqis not to revert to revenge but to work together to promote reconciliationUNITED NATIONS — Secretary-General Ban Ki-moon said Monday there were encouraging signs of progress in Iraq, but urged the Iraqi people to avoid seeking revenge and warned that the process of national reconciliation “remains delicate.” Recommended budget cuts show governors still grappling with economic woesWASHINGTON — In response to the economic downturn, the nation’s governors expect to trim their state budgets by about 2.5 percent through cuts in education, Medicaid and state employee salaries and benefits. Clemson official: School manipulated class sizes, other figures to boost magazine rankingsA rogue Clemson University staffer has accused the South Carolina school of manipulating its U.S. News & World Report ranking — reviving a debate over what critics call the pernicious influence of the magazine’s annual college ratings. World Bank says massive aid can stabilize Palestinian areas but won’t spark growthRAMALLAH, West Bank — Massive aid to the Palestinians can slow economic decline, but won’t revive their private sector sufficiently to gradually ease their need for external support, the World Bank said Thursday, challenging assumptions that have long guided donor countries. Britain’s Gordon Brown: Lawmakers should not be allowed to decide their own salariesLONDON — Britain’s prime minister, facing a national uproar over lawmakers claiming lavish expenses, promised Sunday to pursue constitutional reforms including a proposal to take away legislators’ power to decide their own pay. Clarification: GateHouse storyBOSTON — In a story May 29, The Associated Press reported that GateHouse Media Inc. is cutting salaries at its newspapers in New England. Only the GateHouse Massachusetts newspapers are involved in the pay cut. The Norwich Bulletin in Norwich, Conn., also a GateHouse newspaper, is not involved. Jordan reaches agreement in principle to accept 76ers coaching jobThe Philadelphia 76ers have found their next head coach, reaching an agreement in principle with Eddie Jordan to end a search that lasted nearly three weeks. Person with knowledge of talks: Jordan has agreement in principle to accept 76ers coaching jobThe Philadelphia 76ers have an agreement in principle with Eddie Jordan to become their next head coach. New England newspaper chain Gatehouse Media Inc. to cut salaries of most employees 8 percentBOSTON — Newspaper publisher GateHouse Media Inc. is temporarily cutting the salaries for most of its 1,500 employees in New England an average of nearly 8 percent to save money and avoid job cuts. Obama says US depends on police to fight rising crime, a byproduct of a worsening economyWASHINGTON — President Barack Obama says police officers deserve respect and support because as the economy worsens, crime rises. Grocer Supervalu appoints Wal-Mart executive Herkert as CEOMINNEAPOLIS — Supervalu Inc. on Wednesday announced that it has appointed Wal-Mart executive Craig Herkert as its new chief executive officer. Armstrong has ‘high interest’ from sponsors if he takes over control of crisis-hit AstanaVENICE, Italy — Lance Armstrong says he has “high interest” from sponsors if he takes over control of the Astana cycling team. Serbia’s Central Bank challenges government-imposed wage cuts at Constitutional CourtBELGRADE, Serbia — Serbia’s National Bank is challenging government-imposed salary slashing at the Constitutional Court. Freddie Mac pays out $700,000 to David Kellermann’s family after apparent suicideWASHINGTON — Freddie Mac is paying out more than $700,000 to the family of David Kellermann, the mortgage finance company’s former acting chief financial officer who died last week in an apparent suicide, the company disclosed Thursday. Billionaire Adelson paid $1.28M in 2008 to run Las Vegas Sands, 59 percent drop from 2007LAS VEGAS — Billionaire Sheldon Adelson received $1.28 million in compensation as chief executive of Las Vegas Sands Corp. in 2008, 59 percent less than in 2007, as stock in the company where he is majority owner fell 94 percent, according to an Associated Press analysis of a company regulatory filing made Thursday. Report finds gender pay gap in federal work force declines to 11 cents on the dollarWASHINGTON — Women working in the federal government still earn less than their male counterparts, but the pay gap is shrinking. Britain proposes affirmative action bill that could number days of old boy networksLONDON — Is the end near for the English gentleman of privilege? Clinton-era community police program gets new life under new Democratic administrationWASHINGTON — A community policing program that President Bill Clinton created and President George W. Bush tried to curtail is making a strong comeback under the new Democratic administration. Survey: companies freezing salaries, limiting bonuses say cost cuts may stay as recession ebbsNEW YORK — Salary freezes, bonus reductions and unpaid furloughs have surged in recent months as companies try to survive without layoffs, and a new survey found many businesses intend to keep the cost-cutting measures after the recession eases. |
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