RBS to pay large cash bonuses despite public outrage

first_img Previous Article Next Article Comments are closed. RBS to pay large cash bonuses despite public outrageOn 2 Feb 2010 in Personnel Today RBS will still pay large cash bonuses to its top performers this year, despite the political and public backlash over bankers’ pay.The bank wrote to investors yesterday detailing its pay deal, which will give bankers their bonuses entirely in shares – but a large portion of these can then be converted into cash within just 12 weeks. In the letter, written by the chairman of RBS’ remuneration committee Colin Buchan, the bank admitted that the deal was “unlikely to please everyone” but said it was a “well-intentioned attempt to reach an acceptable position for most parties”. Stephen Hester, RBS’ chief executive, previously said it was necessary to pay bonuses to be able to attract and retain top talent.The bank’s “senior management” will have their bonuses deferred in three equal tranches over three years, starting this year. The next management level down will receive 50% of their deferral this year followed by 25% next year and 25% in 2012. Although the bonuses will be paid in shares, bankers will be able to sell them for cash in June. Politicians argued that this was breaking the spirit of the agreement announced by chancellor Alistair Darling in November, which promised no cash bonuses this year at RBS or Lloyds Banking Group, the Telegraph has reported. The letter said the final size of the bonus pool had not yet been decided, but analysts expect it to be in the region of £1.5bn – up roughly 50% from last year. Related posts:No related photos.last_img read more

3 men caught in drug bust

first_imgSuspected shabu weighing about 26 grams valued at around P286,000 were seized from Norvic Nacanaynay, Efren Gonzaga and Michael Villanueva, police said.The suspects – all residents of the village – were caught after they sold suspected illegal drugs to an undercover officer for P500 around 11 p.m. on June 12, the police added.They were detained in the lockup facility of Police Station 2, facing charges for violation of Republic Act 9165, or the Comprehensive Dangerous Drugs Act of 2002./PN BACOLOD City – Police arrested three individuals in a drug buy-bust operation in Barangay 2.last_img

Southampton v QPR: Sandro back

first_imgSandro returns to the starting line-up for QPR at Southampton after recovering from a knee problem. Matt Phillips also starts for Rangers, who are without the injured Joey Barton and Jordon Mutch. Southampton defender Toby Alderweireld has recovered from a hamstring problem in time to play. QPR: Green; Isla, Caulker, Ferdinand, Traore; Sandro, Kranjcar, Fer, Phillips; Vargas, Austin.Subs: Hill, McCarthy, Onouha, Henry Dunne, Hoilett, Zamora. Southampton: Forster, Alderweireld, Clyne, Fonte, Bertrand, Wanyama, Davis, Schneiderlin, Tadic, Mané, Pellè.Subs: Davis, Long, Cork, Mayuka, Reed, McCarthy, Targett.Follow West London Sport on TwitterFind us on Facebooklast_img

Empowering youth for a bright future

first_img20-year-old Neftaly Malatjie foundedDiepsloot Youth Projects in 2005. The organisation seeks to empower Diepsloot’s youngsters. Its craft training centre is already showing impressive results. (Images: Diepsloot Youth Projects) MEDIA CONTACTS • Neftaly Malatjie CEO Diepsloot Youth Projects +27 78 637 0815  RELATED ARTICLES • Teaching jobless how to find jobs • Transforming lives through sport • Hair academy empowers women • Itlhabolole: beauty from wasteBongani NkosiAt age 20, Neftaly Malatjie is already a distinguished leader in his community of Diepsloot, a sprawling township grappling with underdevelopment and poverty.Diepsloot Youth Projects, the non-profit organisation he founded in 2005 at just age 16, is making a difference in the lives of fellow youngsters.The hard-working Malatjie is the CEO of the organisation, which he runs with a group of volunteers and professional trainers.The list of community initiatives taking place under the auspices of Diepsloot Youth Projects is burgeoning, ranging from the popular computer-training and pottery and craftwork academies to the school and community outreach programmes.“We’re a non-profit organisation that’s mainly focused on awareness, capacity-building and training,” said Malatjie during an interview in his makeshift office.Originally called Diepsloot Youth Arts and Culture, Malatjie started the organisation as a performing-art project after identifying a need for it in the community.“I was attending an acting school and I thought this type of thing is needed in the township,” he said.The success of the initial phase was encouraging for Malatjie. “The support we received was amazing, as well as the participation and performances. Even parents were supporting it.”The organisation expanded when Malatjie began working with other young leaders from Diepsloot. They started in-depth research on what the community desperately needs, and found that “our people need jobs, they need skills”.And so Diepsloot Youth Projects was born.A recent highlight is being awarded an accreditation certificate, in July 2011, to operate their computer-training facility as a Microsoft IT Academy.They also got accredited by the South African Qualifications Authority (Saqa), meaning the academy’s more than 200 students will graduate with recognised computer studies certificates.Malatjie said they are now hoping to secure an ISETT Seta-accredited training provider licence in the next few months.Microsoft and Saqa accredited them after “they were satisfied with everything and found that we’re really committed”, while the Seta licence will be granted after the organisation appoints an assessor for the programme – according to Malatjie.The academy caters for youngsters who’ve completed secondary school and those who left in grades 10 and 11.Proper building plannedDiepsloot Youth Projects has now appointed experienced professionals to serve on its board committee, as well as in management and executive teams.The organisation is planning to build a proper facility to operate from in the near future, but they are still accruing funds for construction.The piece of land donated to the organisation by the City of Johannesburg is currently scattered with containers, used as makeshift classes. This is where their “modest” building will be erected.Hopeful studentChikore Takaidza, a Zimbabwean youngster living in Diepsloot, attends the computer academy and is hopeful that he’ll gain the necessary skills to find a job.“I’m going to get out here a changed person in terms of how I conduct myself in the business world,” he said.Malatjie and his team also help community members find employment. In addition to drafting CVs for job-seekers, they circulate adverts on vacancies in their internet cafe.Pupils can also visit the organisation’s three centres for career guidance and help to secure study funds.Crafts schoolThe pottery and craftwork academy is another project that’s realising tangible results. Its students, most of whom were once unskilled youngsters, are already producing artistic creations for the market.“The whole aim is to help them generate income for themselves. We now have people who are selling their products, some are exhibiting in markets.”The craft school is also helping unearth talent among once-idle youngsters. “The school doesn’t teach craft, but looks at talent and goes beyond it,” said Malatjie. “We never say to our students your art is nice. We always say go fix this or that.”Their sewing training project has also taken off, noted Malatjie, as they now have necessary material.Ultimate dreamMalatjie’s ultimate dream is to see the majority of Diepsloot youngsters becoming self-reliant and able to find jobs.“We are changing stones into self-moving assets,” he said, referring to Diepsloot’s many youngsters who are despondent about their prospects.“I want people to have success stories, and would like it if one day people say that that organisation made them who they are.”Creating entrepreneurs is part of the organisation’s aim. “If someone starts a business, my people will get jobs,” Malatjie said.Diepsloot Youth Projects lists government and private companies as its funders, but Malatjie said more contributions are needed to sustain initiatives.The organisation is planning to start operating in other underprivileged areas in the near future. “We’re about to spread our wings to other townships,” Malatjie said.last_img read more

Generation Earth founder Catherine Constantinides one of SA’s new 21 Icons

first_imgCatherine Constantinides has also been named the Top South African Young Woman Entrepreneur for Women Empowerment, and South African Youth Entrepreneur at the South African Premier Business Awards. (Image: Catherine Constantinides)Environmental activist, social entrepreneur and accomplished agent for change Catherine Constantinides has been chosen as one of the next generation of South Africans in the new series of the acclaimed 21 Icons photographic and documentary project, which celebrates local leaders, influencers and role-models.The executive director of the Miss Earth South Africa Leadership Programme, Constantinides was named one of the Mail & Guardian’s Top 200 Young South Africans for 2014, is an Archbishop Tutu Leadership Fellow, and the Lead SA executive in charge of mobilising active citizens. Her CV would be intimidating for someone twice her age.At 16 Constantinides had started her own business to highlight social issues. By 21 she’d launched her own arts, music and entertainment magazine. She has also been named the Top South African Young Woman Entrepreneur for Women Empowerment, and South African Youth Entrepreneur at the South African Premier Business Awards.Find out more about 21 Icons:But as the founder of global youth network Generation Earth, her main passion is the fight to stop climate change. A low-carbon, sustainable future is the legacy she would like to create.“Through the work I do, the most important thing for me is to leave a world where we don’t have to worry about climate change, sustainability and low-carbon cities,” Constantinides said in a recent interview with CNBC Africa.“I really want us to leave a future where those things are already taken care of, because of how human beings behave. If we can teach people to be sustainable as a way of life, we’re heading in the right direction.“We need to look at corporate South Africa to assist us in mobilising, moving forward, in order for us to have a green economy. But at the same time, a lot of the work I do is to empower young people to think differently.”Watch Catherine Constantinides discuss our low-carbon future on CNBC Africa:“It’s one thing to have a green economy,” Constantinides said. “But if we don’t have young people who are passionate about a low-carbon future, we don’t have anyone to plug into that green economy.“Children must be exposed to renewable energy, to the possibilities of science and technology, from a young age, in order for them to think differently. By the time they are 11 or 12 years old, they will then be able to be innovative and creative.”Previous South African luminaries featured in the 21 Icons project include Nobel Peace Prize winners Nelson Mandela, Desmond Tutu and FW de Klerk, and Nobel literature laureate Nadine Gordimer.last_img read more

Booker, Warren score 35 apiece, Suns beat Timberwolves

first_imgA 19-4 run to end the third quarter and start the fourth gave the Timberwolves a 94-87 lead on Shabazz Muhammad’s basket with 9:47 to play. But the Suns scored the next 10 to go up 97-94 after Warren’s 17-footer with 6:53 left.Minnesota responded with a 9-0 spurt and Jeff Teague’s 3-pointer put the Timberwolves up 103-97 with 4:46 to go. Minnesota went four minutes before its next score.Neither team had a double-digit lead all night with the Timberwolves, who never trailed in the first half, up 60-57 at the break.Chriss sank a 3-pointer in the opening minutes of the second half to tie it at 61 and, after Chriss’ block of Karl Anthony-Townes’ shot led to Warren’s breakaway dunk, Phoenix led 83-75 with 4:06 to play in the third.Minnesota called a timeout, then went on a 13-2 run to end the quarter to lead 88-85 entering the fourth.ADVERTISEMENT Brace for potentially devastating typhoon approaching PH – NDRRMC Trending Articles PLAY LIST 00:50Trending Articles01:48NBA: Kawhi, George seek more for Clippers than beating Lakers00:50Trending Articles01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Japan ex-PM Nakasone who boosted ties with US dies at 101 Read Next LATEST STORIES QC cops nab robbery gang leader, cohort Stronger peso trims PH debt value to P7.9 trillion CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Phoenix Suns guard Devin Booker (1) drives on Minnesota Timberwolves forward Taj Gibson. APPHOENIX — Devin Booker and T.J. Warren scored 35 points apiece and the Phoenix Suns snapped a five-game losing streak by beating the Minnesota Timberwolves 118-110 on Saturday (Sunday Manila time).Booker scored nine in the Suns’ decisive 21-7 run over the final 3:50.ADVERTISEMENT View comments John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding MOST READ BUDDIESAnthony-Towns and Booker are friends and former teammates at Kentucky. They also are the top two scorers out of the 2010 draft. It’s one of four draft classes in NBA history where the top two scorers were college teammates. Towns had 17 points and 12 rebounds on Saturday.TIP-INSTimberwolves: Minnesota hadn’t played since a loss at Golden State on Wednesday while Phoenix was playing on back-to-back nights. … The Timberwolves swept the three-game series with Phoenix last season. … Minnesota lost despite a 19-7 advantage on the offensive boards.Suns: Tyson Chandler played after missing the previous two games with back spasms. … Phoenix improved to 1-3 on a season-long six-game homestand. … Tyler Ulis started at point guard for first time this season, replacing Mike James. Kammuri turning to super typhoon less likely but possible — Pagasa Typhoon Kammuri accelerates, gains strength en route to PH Murray scores career-high 32 as Nuggets beat Magic Andrew Wiggins scored 27 points and Jimmy Butler had 25 in Minnesota’s second straight loss after a five-game winning streak.In a back-and-forth second half, Phoenix took control with a late 14-0 burst.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutBooker scored seven points in the streak and capped the outburst with a pass to Marquese Chriss, who sank a 3-pointer from the corner to give the Suns a 111-103 lead with 51.2 seconds to go.Chriss was the only other Phoenix scorer in double figures with 13 and blocked five shots. Don’t miss out on the latest news and information. last_img read more

10 months agoHuddersfield boss Wagner: We’re very low

first_imgAbout the authorPaul VegasShare the loveHave your say Huddersfield boss Wagner: We’re very lowby Paul Vegas10 months agoSend to a friendShare the loveHuddersfield boss David Wagner admits they’re low after defeat to Fulham.Fulham secured three vital points with a 1-0 win against a rival for relegation when Aleksandar Mitrovic scored in stoppage time.It left Huddersfield bottom of the Premier League, having lost all seven of this month’s league fixtures, and Wagner said: “Obviously it’s a low point.”Not only because we’ve lost seven in a row but how we lost it. It’s a heavy loss we’ve conceded (at Fulham). We will need for sure a little bit longer than only 30 minutes afterwards to deal with it.”December wasn’t our month, obviously. But for me it’s not possible to think so quickly after the game about the transfer window or the next game. I have to reflect.”It’s very difficult.” last_img read more

Photo: Nike Announces New Kyrie 1 “Duke Blue Devils” Shoes

first_imgDuke and UNC get set for the tip.DURHAM, NC – FEBRUARY 07: A general view of the North Carolina Tar Heels and the Duke University Blue Devils tip off at center court to begin their game on February 7, 2007 at Cameron Indoor Stadium in Durham, North Carolina. North Carolina won 79-73.(Photo by Grant Halverson/Getty Images)Nike announced today it is putting out a new pair of Kyrie Irving’s Kyrie 1 signature shoes on Mar. 12., and the colorway pays homage to Irving’s brief but brilliant career at Duke University. The shoes are pretty sharp.Nike Kyrie 1 “Duke Blue Devils” releasing on March 12 http://t.co/zFUQYjyY84 pic.twitter.com/BLcFf9gwZG— SoleCollector.com (@SoleCollector) February 26, 2015It will be interesting to see if the Blue Devils don these at any point during the ACC and NCAA Tournaments. There is no explicit reference to the Duke program on the sneakers themselves, but the connection is pretty clear.last_img read more

Federal government should manage Albertas threatened caribou letter

first_imgEDMONTON – Several First Nations and Indigenous groups have asked the federal government to step in and protect some endangered caribou herds on provincial land in Alberta.In a letter to federal Environment Minister Catherine McKenna, the coalition said Alberta hasn’t met Ottawa’s deadline for coming up with a plan to save five threatened herds in the northeastern part of the province heavily impacted by forestry and oilsands development.They said if Alberta won’t make the move, Ottawa should.“Despite the good efforts by some companies, there’s nothing right now that prevents a new oil and gas well or a new oilsands mine or a harvest cutblock from destroying critical habitat,” said Barry Robinson of Ecojustice, one of the groups that signed the letter.Others included the Cold Lake First Nations, the David Suzuki Foundation and the Alberta Wilderness Association.Robinson said McKenna could use the Species At Risk Act which gives Ottawa the power to issue a “safety blanket” order.That order, said Robinson, obliges the federal minister to step in if provincial protections for critical habitat of an endangered species on Crown land are inadequate.The formal petition delivered to McKenna on Monday, along with the letter, goes through 11 Alberta laws and concludes none offers legal protections, although Robinson noted some companies try to minimize damage to caribou herds.Alberta and six other provinces continue to fail to meet a federal deadline to release recovery plans for threatened herds in their jurisdictions. That deadline passed in October.McKenna has said her office will study measures taken by the provinces and decide in April whether those protections are enough.It’s time for action, said Robinson, who added Ottawa has already let its own deadlines slip by. The 2012 federal document that contained the deadline the provinces have now missed was itself five years late.“Given the purpose of the Species At Risk Act, very little has been done, and it’s been 10 years since the species was listed. It’s time for either the province or the federal minister to step up.”The Cold Lake First Nations said no recovery plans have been developed for the herds they depend on despite new industrial disturbances being approved regularly.“They (Alberta) had five years and where are the plans?” asked band Councillor Kelsey Jacko in an email.“I don’t see them. And the situation is getting worse. Something has to be done.”Alberta did not immediately respond to a request for comment. It has previously said it’s trying to find ways to protect habitat with as little economic impact as possible.Caribou are in decline across the country.A 2015 federal assessment found 81 per cent of Canada’s 51 woodland caribou populations are declining. The reasons are thought to stem from habitat loss and damage from forestry, energy development and wildfires.The assessment concluded those populations will decline at least another 30 per cent in the coming years.Federal guidelines say two-thirds of habitat on critical caribou range should be undisturbed. Habitat for most of the five herds mentioned in the letter is more than 70 per cent disturbed.— Follow Bob Weber on Twitter at @row1960last_img read more

New Udinese signing wants be clubs revelation

first_imgOne of Udinese latest signing Darwin Machis wants to “be one of the revelations of this season” at the Dacia Arena and in Italy.Having already scored one goal in the Coppa Italia, the 25-year-old Venezuelan has already made his Serie A debut in Sunday’s 2-2 draw with Parma.“Coach Julio Velazquez already knew of me from my time playing in Spain, but I still have to work hard in order to earn his faith all over again. Nobody comes here guaranteed a starting spot,” he said in a Press conference via Football Italia.Cristiano Ronaldo, JuventusSerie A Betting: Match-day 3 Stuart Heath – September 14, 2019 Considering there is a number of perfect starts so early in the Serie A season, as well as a few surprisingly not-so perfect ones….“I didn’t expect such a strong start to my season, but that is my way of playing. I hope to have a great campaign and to be one of the revelations of this season.“I’m quick, I like to play the ball to feet and hope to improve all the various aspects of my game.”last_img read more