(MENAFN- ProactiveInvestors - UK) WPP shareholders have rebelled against chief executive Sir Martin Sorrell''s 70mln pay package at the AGM of the advertising giant in London.
Some 33.45% of institutional investors voted against his record-breaking remuneration at the meeting, reports the Telegraph.
The Times adds that the ad boss struck a defiant tone over his 70.4mln pay package in spite of the shareholder revolt.
A global glut of oil could take up to 18 months to decline, holding prices down until as late as 2018 and placing further pressure on Britain''s North Sea oil industry, BP warned yesterday.
Spencer Dale, the oil giant''s chief economist, estimates that two years of excess supply from producers such as Saudi Arabia and Iraq had created a surplus of about 700 million barrels of crude, reports the Times.
Yahoo has added a sweetener to a clearance sale of its assets by putting a treasure trove of 3,000 patents up for sale that could be worth more than a billion dollars.
Yahoo''s move is part of a make-or-break rescue plan devised by Marissa Mayer, its chief executive, the Times reports.
G4S, the company that failed to provide enough guards for the 2012 London Olympics and ripped off taxpayers by charging for ''phantom'' electronic tags on criminals, will shortly be handed the keys to the Royal Mint, reports the Mail. It will be the the first private sector company to guard the official coin maker in its 1,130-year history.
Meanwhile the BHS saga continues at full tilt.
The FT reports that Sir Philip Green called in administrators atBHSbecause he did not want the retail chain he once owned falling into the hands of rival billionaire Mike Ashley.
Iin evidence to MPs, Dominic Chappell the ex-bankrupt whose Retail Acquisitions consortium bought BHS from Sir Philip for 1 last year said the Arcadia boss had used his continuing influence over BHS to appoint administrators Duff & Phelps earlier this year.
The Times adds that pressure was mounting on Sir Philip Green last night after the businessman to whom he sold BHS was branded an SAS fantasist who allegedly threatened to kill the chain''s chief executive in a row over money.
Extraordinary claims about Dominic Chappell, a bankrupt former racing driver, were made to MPs in a parliamentary inquiry session investigating the collapse of the high street chain.
An Aids treatment from Italy has shown promising results in a clinical trial in South Africa, reports the FT.
The therapeutic vaccine makes antiviral drugs more effective by boosting the immune system of people living with the Aids virus, HIV.
Private equity investor Guy Hands personally lost 200mln (156mln) from the collapse of EMI, a London court has heard during a case that revisits the debt-fuelled spending that gripped the City before the credit crunch.
Giving evidencein his claim for at least 1.5bn against Citigroup,Hands agreed with assertions by the US bank''s lawyer that the 2007 takeover of the British music group was a disaster for him and his buyout vehicle, Terra Firma, reports the Guardian.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.