Bank chief executives’ pay has rarely been out of the news in the six years that Equilar and the Financial Times have been publishing this annual analysis. While the pay of almost all the bank bosses in the study increased in 2014, it remains well below pre-crisis levels and is likely to remain so.
2013 protest in Manchester against widening pay gap © Getty
By David Oakley
Britain’s top 10 highest paid bosses earn more than a combined £100m in the most recent financial year. For these top earners, their £118.9m aggregate pay packet was 27 per cent higher than what they received in the previous year.
This – at a time when real household median incomes in the UK is only just returning to 2007-2008 levels – is likely to put executive pay firmly back into the spotlight as the UK general election approaches and shareholders gather at upcoming annual general meetings. Read more
From General Motors in the 1950s, to Apple today, the list of the top US companies by net profits tell a story about how the American economy has changed through the ages. Explore this history with our interactive graphic. Read more
Subscription revenues for video on demand services like Netflix are set to grow by nearly 30 per cent during 2014 but will still account for only 2 per cent of the total market for pay television. North America and Europe currently lead by market share with growth of 29 and 19 per cent respectively this year, but in emerging regions where on demand is more novel growth will exceed 50 per cent in 2014.
As the Fed aims to end QE in October and the normalised interest rate policy during 2015 looms, a matter for debate among investors is whether the strong performance of both equities and Treasury debt in recent years has peaked.
by Henry Foy, Automotive Correspondent
Henry Ford, the grandfather of the car industry and Tesla CEO Elon Musk, its current saviour (or enfant terrible depending on your point of view and stockholding) had similar views on spreading warm and fuzzy love around with rivals.
“If everyone is moving forward together, then success takes care of itself,” Ford once said. “A business that makes nothing but money is a poor business,” another Ford pronouncement, is certainly a view shared by Musk – who has said making electric cars successful is more important to him than making his company successful.
But Ford would be turning in his Detroit grave at Musk’s latest decision to make all of Tesla’s patents availble, free of cost, to its rivals.
Ford — who ironically broke the famous Selden patent monopoly that allowed the US car industry to get off its feet — loved patents. He racked up more than 150, and liked to be in control of every aspect of his cars. That control has percolated throughout the car industry since, as rivals look to corner emerging technologies.
But what exactly is in the box of secrets that Musk has opened to the world — and to his competitors? Read more