Wednesday 22 November 2017

Pension rise for 'no bonus' boss


HSBC Holdings chairman Stephen Green, who asked the bank to end his bonus payments in 2008, received a £4.9m (€5.4m) rise in his pension for 2008 and £1.4m for 2009.

His pension transfer value, or the accumulated cash that can be transferred to a new pension, rose to £19.1m. The bank defended its decision to give chief executive Michael Geoghegan a £300,000 living cost allowance to ease his relocation to Hong Kong.

Ryanair opens base in Malta


Ryanair yesterday announced the opening of what will be its 41st base, in Malta. It said the base will open in May, with one aircraft being based on the island. An additional six routes will be opened, bringing the total from Malta to 19. Ryanair said the base will deliver 800,000 passengers a year.

Oil price down on stronger dollar


Oil fell toward $80 a barrel as the dollar strengthened and some weak economic data soured sentiment after crude hit a seven-week high yesterday. The euro fell against the dollar as comments by the ECB reinforced the view interest rates in the region will remain low in the foreseeable future.

IFG approved to take James Hay


Financial services group IFG has received approval for the acquisition of investment group James Hay from the UK's Financial Services Authority. The deal is worth about €38.6m plus additional payments for net assets. It is expected to be completed in the next few days.

Lego to build on increase in profit


Danish toymaker Lego Group reported a 56pc increase in pretax profit for 2009, on strong sales of its Star Wars and Lego City product lines. Privately owned Lego, which is among the world's biggest toy manufacturers, said it expected its good growth to continue this year.

Gold falls against advancing dollar


Gold futures fell the most in more than a week as the advancing dollar reduced demand for it as an alternative investment. Gold rose 24pc last year.

as the euro gained 2.5pc on the dollar.

Irish Independent

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