|UK lender Barclays plc's second-quarter outlook is "deteriorating", says broker|
|Friday, 27 April 2012 08:47|
News round up: Barclays, Fuel strike, Executive pay, Exillon Energy and Santander UK.
Motorists are facing the renewed threat of a crippling fuel strike after union leaders urged tanker drivers to reject the latest offer from their employers to end the long-running dispute. About 2,000 staff across seven separate firms have been told to turn down a peace deal aimed at averting industrial action. A meeting of union delegates voted “overwhelmingly” in favour of recommending rejection of the proposals. Eight days of talks had been held at conciliation service Acas to try to head off the prospect of strike action over issues including drivers’ terms and conditions, pensions, and health and safety, The Scotsman reports.
Business leaders have launched a robust defence of executive pay, claiming that the idea of a "cosy club" of directors patting each other's backs and setting salaries for one another is a "myth". In its submission to the Government consultation on improving transparency over executive pay, which closes on Friday, the Confederation of British Industry (CBI) said high pay is justified in return for excellent performance.
Russian oil company Exillon Energy paid out nearly £1m on private jets, school fees and credit card payments for its former chairman Maksat Arip - but failed to disclose the payments. The money was used to fund Mr Arip's international lifestyle shuttling between Britain, Russia and Dubai, and for his children's private education.
The stock market listing of Santander UK is set to be shelved until 2014 after the bank warned that profits this year and next would be lower than it had hoped.SUK posted a 40% drop in first-quarter pre-tax profits to £347m.
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