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  • July 29, 2014
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  1. Bonus cut likely reason for UBS bankers leaving

    Posted Mar 10th 2009, 12:00am by Naomi Rovnick

    ... Naomi Rovnick UBS has lost a huge chunk of one of its most successful Hong Kong investment banking teams after paying bonuses in Asia that were in many cases 95 per cent below ... could get sued by UBS if they talked publicly about their move. Sources said the two bankers were likely to have been guaranteed multimillion-dollar bonuses for this year by Credit Suisse. ...

  2. Property giant has no plans to cut staff, bonuses

    Posted Nov 21st 2008, 12:00am by Sandy Li

    ... Sandy Li Sun Hung Kai Properties, Hong Kong's second-largest developer, says it has no plans for layoffs and staff will receive their year-end double pay and bonus next month. Asked if the firm would cut staff bonuses, vice-chairman and managing director Thomas Kwok Ping-kwong said: 'I hope not, as I will get it as well.' The group has a workforce of about 30,000. ...

  3. Airlines cut staff bonuses by half

    Posted Nov 20th 2008, 12:00am by Charlotte So, Joyce Man

    ... Joyce Man and Charlotte So Cathay, Dragonair to raise pay next year Cathay Pacific and its affiliate Dragonair cut staff bonuses by half yesterday, but raised their salaries, as Cathay ... at other firms. The discretionary bonus, however, will be cut next year to half a month, or HK$8,000- whichever is greater- from a full month this year. Crew members at Dragonair, numbering about ...

  4. Hutchison rewards Fok with $124.8m bonus

    Posted Apr 09th 2005, 12:00am by Stuart Biggs

    ... Stuart Biggs Hutchison Whampoa managing director Canning Fok Kin-ning pocketed $124.85 million in bonuses last year, just $400,000 short of his entire 2003 pay packet, according to the conglomerate's annual report. Mr Fok, who famously chuckled when announcing 750 job cuts from the group's telecommunications operations in January, also enjoyed a 9 per cent salary increase last ...

  5. CLSA staff agree to salary cuts of as much as 25pc

    Posted Oct 28th 2008, 12:00am by Staff Reporter

    ... for that month and a pro-rated bonus that will be paid quarterly. Staff that agreed to the minimum 15 per cent pay cut will receive that back plus an 8 per cent bonus based on their monthly salary, while staff that took the median 20 per cent reduction will get a 17 per cent bonus. Employees that took the biggest 25 per cent pay cut will get a 25 per cent bonus based on their monthly salary. ...

  6. Business - Banking & Finance - BANKING

    Barclays to axe 3,700 jobs and cut costs after Libor losses

    Posted Feb 12th 2013, 05:16pm by AFP

    ... also to "provide greater disclosure and transparency" around its financial performance. This month, Jenkins announced that he would give up his bonus, reported to have been at least ...

  7. Hang Lung Group chairman says no job losses, considers pay cuts

    Posted Nov 26th 2008, 12:00am by Joyce Man

    ... was poor, we cut [salaries]. When times are bad, cutting salaries - I think that's very reasonable,' he said. The group will decide later whether to give out bonuses. With no debts and up to HK$6 billion in reserves, the company was in good stead, Mr Chan said, and planned to start projects on the mainland next year. Last week, Cathay Pacific slashed bonuses, usually a month's ...

  8. Lai See

    Posted Oct 21st 2010, 12:00am by Howard Winn

    ... The damage could have been worse. Bonus politics With financial industry bonuses expected to be down this year, we bring tips on how to maximise your claim on the pool from Geraint Anderson ... previous bonus. 'Every year, on hearing the bonus amount from your boss, no matter how outrageously generous, immediately do an impression of a bulldog licking urine off a nettle. Practise ...

  9. Lai See

    Posted Sep 27th 2008, 12:00am by Ben Kwok

    ... Ben Kwok Doom, gloom everywhere... but the bonus lives Goodbye fat bonuses, hello job insecurity. With Wall Street fighting a rearguard action as Goldman Sachs and Morgan Stanley, the last surviving independent global investment banks, packed up their tents to join the commercial banking world and HSBC announcing 1,100 layoffs, the days of bankers enjoying a bonus bonanza look ...

  10. Steelmakers weigh staff, pay and output cuts

    Posted Nov 22nd 2008, 12:00am by Carol Chan

    ... steelmakers are slashing staff pay or bonuses. Wuhan Iron & Steel Group has cut salaries 15 to 50 per cent while Angang Steel has made a 35 to 50 per cent pay cut, the 21st Century Business Herald reported, citing staff from the two mills. Shougang Iron & Steel also halved its monthly bonus payment, the newspaper said. However, Fu Jihui, Angang's executive director, and Bai Fang, ...




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