Union calls for wider scrutiny of public equity bosses' pay and bonuses were rejected yesterday by the chairman of the private equity industry trade body, reports The Guardian.
"It made no sense" to publish the pay-and-shares packages offered to equity partners in private equity businesses, said Wol Kolade, chairman of the British private Equity and Venture Capital Association, in an interview with the Guardian.
He said the disclosure of more information about the pay packages of managers appointed to run privately owned businesses may be appropriate, but the partners of private equity firms should be treated in the same way as other shareholders in publicly listed companies who were under no obligation to publish the gains from their investments.
FINANCIAL MARKETS ARE poised for another turbulent week with the risk of further aggressive selling of US and European government bonds, leading analysts believe, reports The Times.
The battering suffered by the US Treasury bond market at the end of last week, when it endured its worst one-day losses for three years, may be followed by fresh turmoil, strategists and economists fear.
Amid mounting pessimism that the US Federal Reserve will cut American interest rates this year, analysts gave warning that the Treasury bond market may succumb to a further sell-off that could push the yield on benchmark, ten-year Treasury notes through the key technical barrier of 5.25%.
GEORGE OSBORNE, THE shadow Chancellor, is to use a speech on Tuesday to call for a simplification of the tax system for small business, reports The Independent.
In an address to the British Chambers of Commerce, Mr Osborne will announce a major study into the tax burden on SMEs. Grant Thornton has agreed to carry out research on aligning the administration of PAYE and national insurance, which are currently calculated in different ways and over different periods, creating enormous and unnecessary red tape, according to the shadow Chancellor.
Grant Thornton will see if, by abolishing these anomalies, the administrative burden can be lifted.
Mr Osborne said: "The objective is to make it easier for businesses to offer flexible working. We are not talking about merging the national insurance and income tax systems: what we are talking about is how to bring their administration together so that all businesses get a break."
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