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Baroness Newlove: Reform ‘derisory’ victims of crime compensation scheme

“Victims of crime are having to wait too long for compensation under a “derisory” system, the Victims’ Commissioner for England and Wales has said” writes Telegraph Reporters for telegraph.co.uk. “Currently, compensation can be paid in derisory amounts over a lengthy period, leaving victims feeling frustrated,” the commissioner said. Following a conviction, magistrates and judges can impose compensation orders on offenders whose crimes resulted in injury, loss or damage.She has called for compensation for people who suffer at the hands of criminals should be paid up front rather than in instalments. Source:…

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Morgan Stanley’s CEO let it slip just how many billions the bank is spending on tech

“Morgan Stanley is spending around $4 billion annually to invest in technology, CEO James Gorman said on Tuesday” writes Frank Chaparro for businessinsider.com. Morgan Stanley held its annual CTO Innovation Summit in June, which helps it connect with vendors and startups on new nascent technology.Morgan Stanley has been putting a greater focus on technology at the firm.Bringing electronic trading to its fixed income unit is a “major priority” for the bank’s tech investment, Gorman said. Source: businessinsider.com Share This:

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Child abuse victim denied compensation as she lived under same roof as attacker

“A woman who was sexually abused as a child by her stepfather has been denied compensation as she lived with her attacker” writes Telegraph Reporters for telegraph.co.uk. The woman behind the legal challenge, known for legal reasons only as JT, was abused between the ages of four and 16. A legal challenge will take place at the Court of Appeal next week. Source: telegraph.co.uk Share This:

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Tesla faces lawsuit over Elon Musk’s compensation package

“Musk received the support of the company’s shareholders in March for a package that Tesla estimated to be worth $2.6 billion” reports autoblog.com. The lawsuit accused the board of corporate waste and Musk, the company’s chief executive officer and chairman, of unjust enrichment.Tesla said in a statement that the lawsuit “seeks to take the power from our shareholders and instead give it to plaintiffs lawyers.The lawsuit alleged that Musk used his power over Tesla’s board to buy SolarCity at a price that unfairly benefited Musk, a large shareholder in SolarCity.The…

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Airline passengers can now claim compensation for delays outside EU

“Passengers whose onward connections outside Europe are delayed or cancelled can claim EU compensation, according to a landmark ruling” writes Simon Calder for independent.co.uk. But the airline rejected Ms Wegener’s claim, saying the change in aircraft for the connecting flight signalled a separate journey, and as it began outside the EU and was on a non-European airline no compensation was payable. Source: independent.co.uk Share This:

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Warren Buffett: Revealing how much top execs earn isn’t a good idea

“As Ross Sorkin noted, that’s an anomaly: “I always see a number of proxy statements each year” writes David A for cnbc.com. That’s why, on its annual proxy statement to the SEC, Berkshire Hathaway only lists three executives and their pay: Buffett, his business partner Charlie Munger and CFO Marc Hamburg.But, according to Warren Buffett, disclosing compensation has very real drawbacks. In all except Berkshire, the summary compensation table has the compensation listed for at least five or more of the highest paid executives.”. Allowing everyone in a company to…

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Live Nation Shareholder Sues Over Executive Bonus Accounting

“Billboard reached out to officials with Live Nation, who provided an explanation for the bonus payouts and clarified some accounting issues, but did not comment on the lawsuit” writes Taylor Mims for billboard.com. The complaint also asks that those who received compensation based on the 2017 AOI return the compensation to Live Nation or forfeit it.When the $110 million paid for Songkick in a legal settlement is added back to the 2017 AOI, Live Nation reached a $727.2 million AOI for 2017.Live Nation shareholder Shiva Stein  filed a federal civil…

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Facebook won’t pay compensation for Cambridge Analytica case

“Cambridge Analytica used the data of millions of Facebook users to target ads during political campaigns, including allegedly the U.S. presidential vote” writes The Associated Press for seattletimes.com. EU lawmakers said that would make Facebook liable for compensation toward EU users.BRUSSELS (AP) — Facebook said Thursday it will not compensate users in the scandal over the misuse of their personal data by political consultancy Cambridge Analytica.The answers were promised after testimony earlier this week by CEO Mark Zuckerberg in Brussels had left EU lawmakers frustrated about a lack of responses. Source:…

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German utilities to get nuclear exit compensation

“After the Fukushima nuclear catastrophe in 2011, the German parliament decided to phase out nuclear power by the end of 2022, speeding up plans for a shutdown” writes Max Bernhard for marketwatch.com. The German government has decided that utilities RWE AG (RWE.XE) and Vattenfall Group VTF will receive compensation for lost income over the early closure of the country’s nuclear power facilities, the environment ministry said Wednesday.Germany’s highest court confirmed in 2016 that the accelerated phase-out of nuclear power was essentially in accordance with the constitution, but asked for some…

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Wynn shareholders reject executive compensation plan

“FILE PHOTO: Logos are displayed at Wynn Macau resort in Macau Thomson Reuters (Reuters) – Shareholders of casino operator Wynn Resorts Ltd voted against the company’s executive compensation plan at its annual meeting last week, Wynn said in a regulatory filing late on Tuesday” reports businessinsider.com. Nearly 80 percent of the company’s shareholders voted against the compensation proposal. http://bit.ly/2IE6h3B Wynn Resorts could not be immediately reached for comment on the vote. In a separate filing on Tuesday, Wynn said the compensation committee would comprise all three of its recently-appointed female…

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