Oil Pay: Sasol decision on earnings for executives draws criticism

THE decision by Sasol’s remuneration committee to change the key performance indicators (KPIs) for executives to reduce the weighting of company earnings, in a year when Sasol’s earnings were hit by a slump in oil prices, came under fire at the group’s annual general meeting (AGM) on Friday.

 

In the year to June, the influence of company earnings in determining executives’ short-term incentives was reduced to 35% from 55% last year. Sasol’s headline earnings a share fell 17% in this period compared with last year.

According to the annual report, the net base salary earned by CE David Constable — who, as an expatriate, is paid in dollars — rose 4% to $935,618 this year from $899,633 last year, while his net short-term incentives fell 40% to $1.03m from $1.7m.

Jobs outside London paying below living wage

Some 23% of jobs outside London paid less than the living wage in 2014, compared with 19% in London, the Office for National Statistics (ONS) said.

 

The living wage in April 2014 was £8.80 an hour in London and £7.65 an hour outside London.

This wage is set by the Living Wage Foundation and Mayor of London.

The living wage rates have since been increased to £7.85 an hour outside London and £9.15 in London, and are expected to be uprated next month.

Do You Want The Job -- Or Just The Paycheck?

Our local bookstore needs summer help. I know that because a sign in the front window encourages teens to apply for the opportunity to be "junior booksellers." 

 

Ellen Kullman, the chair and CEO of DuPont, periodically needs new people to serve on the board of her $35 billion company. I know that because she gave a speech yesterday at Stanford, talking about how to size up potential directors. In case anyone is curious, DuPont discloses in its proxy that it pays its directors $230,000 a year.

Debt Negotiations stall on Greek Bank Stocks

Stocks in the National Bank of Greece and Piraeus fell approximately 9%, while Alpha bank fell by almost 10%.

 

Officials from the International Monetary Fund (IMF) pulled out of talks with Greek politicians in Brussels yesterday, citing "major differences".

Greece is seeking to avoid defaulting on a €1.5bn debt repayment to the IMF.

Greek Debt Negotiations Weigh on European Stocks

European stocks have fallen after a Greek minister said that Athens would struggle to meet its upcoming debt payments.

Interior Minister Nikos Voutsis made his comments during a weekend TV programme.