City in Brief
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.BAT MAN'S SALARY SOARS TO 980,679 POUNDS
Sir Patrick Sheehy, chairman of BAT, was paid pounds 980,679 last year, a 54 per cent increase on 1992, putting him among the ranks of the UK's highest-paid businessmen.
Sir Patrick's basic salary rose 7.6 per cent to pounds 624,429, but the performance-related element jumped more than sixfold from pounds 57,970 to pounds 356,250. The accounts for 1992, sent to shareholders yesterday, also reveal that Michael Butt, who left the group in October 1991, was paid pounds 323,661 last year and will get pounds 80,908 in 1993.
340,000 POUNDS WALKER PAYOUT
Jean Walker, wife of the former Brent Walker chairman George Walker, is to be paid pounds 340,000 in settlement of her two compensation actions for loss of office against Brent Walker, as revealed in the Independent on Sunday.
US SAVINGS FALL
The US savings rate fell to 4.1 per cent in February, the lowest rate since October 1990, after 4.4 per cent in January. The decline followed a rise of 0.2 per cent in personal incomes last month, exceeded by a 0.6 per cent advance in personal consumption. Home sales rose 4.6 per cent, reversing a 12.7 per cent decline in January.
ITV BID GO-AHEAD
The Department of Trade and Industry said it would not refer a bid from a consortium led by Carlton Communications for Independent Television News to the Monopolies and Mergers Commisssion.
GERMAN PRICES UP
Consumer prices in western Germany rose a provisional 0.4 per cent in March from February, and 4.3 per cent year-on-year. In February, the consumer price index rose 0.4 per cent from January and climbed 4.2 per cent year-on-year.
DELTA TO SHED 600
Delta Airlines is to lay off 600 pilots from June and reduce its fleet. It expects the cuts to save more than dollars 100m per year.
UK OIL REVENUE LEAPS
Britain's North Sea oil revenue rose to pounds 25.6m a day in February, from pounds 21.3m in January and the highest since October 1991, Royal Bank of Scotland said. Output rose to an average 2 million barrels per day, from 1.89 million bpd in January.
GIROBANK BID ATTACKED
MPs on the Public Accounts Committee attacked DTI officials for being 'economical with the truth' and 'having the wool pulled over their eyes' over rival bids for Girobank in 1988. Alliance & Leicester bought the bank and Norwich Union its leasing subsidiary.
CARR FOR AMBER DAY
Amber Day, the discount stores group, appointed Peter Carr, the first of two non-executive directors. He was formerly chief executive of the Spanish department stores Galerias Preciados.
LEHMAN NAMES CHIEF
Lehman Brothers has named Richard Fuld as its sole president. Lehman, a unit of American Express Co was not included in the Shearson Lehman Brothers merger with Primerica Corp's Smith Barney. Mr Fuld had initially been named as co-chief executive and co-president along with Tomilson Hill.
SOCIETIES TAKE STOCK
(First Edition)
Building societies are facing new pressure to convert themselves into companies, according to a report by the stockbroker Hoare Govett. Several are likely to follow the Abbey National to the stock market in two to three years.
WORLD MARKETS
NEW YORK: In strong trading, encouraged by an easing of international tension, shares moved ahead, with the Dow Jones Average up 15.12 points to 3,455.10 by the close.
HONG KONG: Heavy selling of Jardine Matheson shares lowered the Hang Seng index 16.35 to 6,322.90.
TOKYO: The Nikkei Average surged 259.69 to 19,048.38, a six- month high.
SYDNEY: Late buying reversed earlier falls, enabling the All Ordinaries index to end 1.1 better at 1,677.
JOHANNESBURG: Lack of overseas interest depressed the overall index 49 to 3,507.
MILAN: The MIB index edged 0.09 per cent higher to 1,077.
FRANKFURT: Hopes of further cuts in interest rates lifted the DAX index 13.63 to 1,674.92 in quiet trading.
PARIS: The CAC-40 index firmed 8.08 to 2,033.86 on optimism over the new government's policies.
ZURICH: Gains elsewhere in Europe encouraged the SMI index 16.3 higher to 2,176.3
LONDON: Report, page 24.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments