World leaders return to ‘Davos in desert’ a year after Khashoggi boycott

Jair Bolsonaro, Jared Kushner and David Cameron among attendees at Saudi summitPresidents, prime ministers and many of the world’s most important business leaders have been arriving in Saudi Arabia for “Davos in the desert”, a year after the kingdom’s …

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John Lewis: never knowingly understaffed?

Retail partnership’s cull of one in three top managers seems risky, but there could be some easy winsIf the big reorganisation of the John Lewis Partnership falls flat, who would incoming chair, Sharon White, fire?Well, it won’t be the chief executive …

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Senior Credit Suisse executive quits over ‘extraordinary’ spying scandal

Bank rules surveillance of outgoing head of wealth management Iqbal Khan was ‘wrong and disproportionate’Credit Suisse has sacked its chief operating officer over an “extraordinary” James Bond-style corporate espionage scandal in which the bank hired p…

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Facebook and City banks among highest-paying UK firms

Glassdoor says total packages at best-paying companies equate to around £90,000Three City banks, a German software business and Facebook pay their staff the most in the UK, according to a new survey, while staff working at Domino’s Pizza and the shop c…

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MPs call for crackdown on Russian oligarchs using City to avoid sanctions

Government urged to impose tough measures following controversial London flotation of Oleg Deripaska’s En+ groupLabour has called on ministers to toughen the scrutiny and regulation of City flotations as a matter or urgency following the controversial …

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Richest 1% own half the world’s wealth, study finds

Credit Suisse report highlights increasing gap between the super-rich and the remainder of the globe’s population

The globe’s richest 1% own half the world’s wealth, according to a new report highlighting the growing gap between the super-rich and everyone else.

The world’s richest people have seen their share of the globe’s total wealth increase from 42.5% at the height of the 2008 financial crisis to 50.1% in 2017, or $140tn (£106tn), according to Credit Suisse’s global wealth report published on Tuesday.

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European commission to crack down on offshore tax avoidance

Draft law would force intermediaries to reveal cross-border financial schemes, though hard Brexit may exempt UKBanks, accountants and law firms that facilitate offshore tax schemes face a Europe-wide crackdown, according to a leak of draft legislation….

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Credit Suisse bosses slash bonuses 40 percent

Move is aimed at heading off political anger and a shareholder revolt at Swiss bank’s looming AGM

Credit Suisse bosses have cut their bonuses by 40% in the hope of avoiding an embarrassing protest by shareholders and politicians at the bank’s forthcoming annual meeting.

The bank’s executives, led by chief executive Tidjane Thiam, had proposed paying themselves bonuses totalling 78m Swiss francs (£62m) despite the Swiss bank losing SFr2.7bn last year.

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