|Apple Inc chief becomes best-paid US boss after receiving $367m share bonus|
|Wednesday, 11 April 2012 08:36|
News round up: Apple, Unilever, Barclays, Melrose, Energy suppliers, UK retail, and Retired savers.
Unilever has struck a deal with two of the biggest unions representing its employes to cut pension benefits after a seven-month stand-off with workers that saw the Anglo-Dutch multinational suffer its first nationwide strikes. The move comes after the maker of Dove shampoo and Flora margarine sweetened terms during last-ditch talks with unions last month.
Barclays is facing a growing shareholder revolt over the £17.7m pay deal awarded to its chief executive, Bob Diamond, after the UK's largest investor group issued an "amber top" alert on the package. The Association of British Insurers (ABI) on Tuesday sent its members, who include most of the UK's largest insurance groups and investment funds, a note raising concerns over Mr Diamond's pay.
Melrose is on the verge of announcing an acquisition worth more than £1bn. Sources said the engineering turnaround vehicle is "close" to announcing a takeover of a privately-owned industrial business.
Energy suppliers will have to tell customers who are overpaying for their electricity and gas to switch to the cheapest deal, under a new government initiative. From this autumn, the six biggest suppliers — EDF Energy, E.ON, British Gas, Scottish and Southern Energy, ScottishPower and RWE npower — will write to their customers once a year outlining their different tariffs.
Britain's retailers had something to cheer about in March after unusually warm weather encouraged shoppers and drove up sales. The total value of retail sales rose 3.6% last month compared with a year earlier, following a 2.3% increase in February, according to the British Retail Consortium/KPMG report.
Tens of thousands of retired savers already drawing a pension will suffer a crippling drop in income over the next 12 months, Money Mail can reveal. A change in government rules, volatile stock markets and rock-bottom pension payouts have combined to devastate the incomes of those with a type of pension popular with middle-class savers.
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