It wasn't on the official press release sent out last night, but members and policyholders of Standa...
It wasn't on the official press release sent out last night, but members and policyholders of Standard Life gave the board a hard time yesterday about the award of six-figure bonuses to its top executives, says the FT.
During that two-hour AGM, members apparently questioned directors abut the company's corporate governance, financial position and strategy but execs were forced to justify why they shared in a £2bn bonus scheme at the same time as equity markets were falling and policyholders faced a cut in payouts.
A new voice in the Standard Life saga is Stephen Hartson, who, calling himself a representative of the Investors Association, yesterday is said to have won applause from the 300 or so policyholders at the meeting for describing the board's credibility as "worthless".
Standard is not the only firm to face this, as more and more boardrooms are being put under pressure by shareholders, adds the FT.
Paul Braithwaite of the Equitable Life Members' Action Group also chipped in, says the Scotsman, by adding that he could was in a unique position to see parallels between Equitable's demise and Standard Life.
Ever-growing threat of credit card fraud is forcing Lloyds TSB and the Office of Fair Trading to legally challenge the scope of credit card insurance when traveling abroad.
The FT says Lloyds and another UK banks have agreed to take the matter to the court and find out just how far consumers are covered by Section 75 of the 1974 Consumer Credit Act.
The Act allows people who used their credit cards to buy goods or services and recover some of the cost of accidental damage, etc from the card issuer, but banks want to challenge whether this position is valid when the consumer travels abroad.
And the pound has fallen to a four-year low, say several national newspapers, suggesting that Blair's prospects of entering Britain into the single currency may be reunited.
The Daily Telegraph points out that sterling slid by almost 0.5p to 69.49p against the euro yesterday, its lowest level since February 1999.
However, the key consideration to this is Gordon Brown's delivery of a 2,000 assessment of his five economic tests, which many people expect him to say have failed.
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