Closing post
Time for a recap.
We’ve been tracking reaction to and expanding on details from the High Pay Centre’s CEO pay report, which showed that the average CEO from a FTSE 100 company received a 16% pay rise last year. That is equal to around £500,000, and took average salaries to around £3.9m.
That is while average workers were squeezed by cost of living pressures and struggled to gain inflation-busting pay rises like those secured by top bosses.
The Green Party said the figures should revive a debate about instituting a 10:1 pay ratio, that would restrict top boss’ pay to 10 times the level of the lowest paid worker.
Meanwhile, the High Pay Centre raised concerns over the lack of transparency around pay for other high paid workers outside of CEO roles.
In other news:
Microsoft submitted a new takeover proposal to acquire Activision Blizzard in hopes of clearing competition rules in the UK.
UK chancellor Jeremy Hunt played down the prospect of pre-election tax cuts despite new figures from the ONS showing that the public finances are in less bad shape than the government’s spending watchdog forecast in the spring budget.
And fresh data showed that UK manufacturing output fell in the three months to August at the fastest rate in nearly three years.
That’s all from us today. We’ll be back bright and early at 8am on Wednesday -KM
Tech excitement pushes Nasdaq higher as US markets open for trading
US markets are open for trading.
While the Dow is struggling to gain ground, the tech-focused Nasdaq is charging ahead in anticipation of Nvidia results as well as next month’s Arm IPO:
Dow is up marginally by 0.03% at 34,474 points
Nasdaq is up 0.69% at 13,591 points
S&P 500 is up 0.39% at 4,417 points
