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Non-EU Banks Slip Through Bonus Cap Loophole

Non-EU Banks Slip Through Bonus Cap Loophole

Wall Street banks can raise bonuses without a vote from their parent’s shareholders under new EU rules,

Major global banks such as Morgan Stanley and Nomura are benefiting from a loophole in new European pay rules that could leave British rivals at a big disadvantage.

Sky News understands that banks based outside the European Union (EU) are able to approve bigger bonuses for employees of their subsidiaries in the trading bloc without recourse to external shareholders.

That means Wall Street and Asian banks can instantly consent to variable pay for senior staff worth double the level of their salaries, the maximum permissible under the new EU cap. read more

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The Number Of Migrants Should Be Decided By People

The Number Of Migrants Should Be Decided By People

Britain should hold a referendum to decide how many EU migrants should be allowed to come to the UK, a leading MP said.

The call was made by Keith Vaz, chairman of the Home Affairs Select Committee, as restrictions on Romanians and Bulgarians arriving to find jobs were lifted.

Speaking from Luton Airport, which is one of a number of airports where flights from Bucharest and Sofia will land, Mr Vaz said: “This is an issue that does need to be put to the British people, so we don’t get this kind of drama and people rushing around thinking hundreds of thousands of people are going to arrive at Luton on the first day.”

“We do need to look at this sensibly.” read more

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What is the G8 Summit?

What is the G8 Summit?

  • Posted: Jun 16, 2013
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On Monday, world leaders arrived for the G8 summit, which is being  held in Northern Ireland for two days In the county of County Fermanagh

County Fermanagh is one of the six counties of Northern Ireland. The county covers an area of 1,691 km², with a population of approximately 61,170, with Enniskillen its county town.

What is the G8 Summit?

The purpose of the G8 is to provide a forum for the world’s major leaders to meet and try to find solutions to major global issues such as economic growth and crisis management, global security, energy, and terrorism. However, because the members of the Group are not obligated to follow what is requested at the summit, the group receives much criticism about its relevance and effectiveness.

The role of the G8 read more

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David Cameron Promises ‘In-Out’ EU Referendum

David Cameron Promises ‘In-Out’ EU Referendum

  • Posted: Jan 23, 2013
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By the end of 2017, britons will be able to vote to leave the European Union if the Conservatives win the next general election.

The Prime Minister promised to negotiate a new settlement with Brussels and then stage a straight in-out referendum on British membership if he stays in power.

In one of the defining speeches of his premiership, he declared: “It is time for the British people to have their say. It is time to settle this European question in British politics.”

Nick Clegg and Ed Miliband stated that will condemn  British economy to years of uncertainty. read more

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