Microsoft Corp. (MSFT) Chief Executive Officer Satya Nadella was given a compensation package worth as much as $84.3 million for the software maker’s latest fiscal year, about 11 times his pay from the previous year. Nadella was named CEO about five months before the end of the year, which ended in June. He was granted share awards potentially worth $59.2 million in connection with his promotion to CEO, according to a filing yesterday. He also received a one-time retention award worth $13.5 million.
Updated 6 Years ago

GIC Pte, Singapore’s sovereign wealth fund, bought a building next to Tokyo Station in a bet that the city’s real estate values will continue to rise. GIC paid $1.7 billion for the property, according to a person familiar with the purchase who asked not be named because the information isn’t public. The fund, which declined to comment on the price, said it acquired the office component of the Pacific Century Place Marunouchi.
Updated 6 Years ago

The cost for banks to settle probes into allegations traders rigged foreign-exchange benchmarks could hit as much as $41 billion, Citigroup Inc. (C) analysts said. Deutsche Bank AG (DBK) is seen as probably the “most impacted” with a fine of as much as 5.1 billion euros ($6.5 billion), Citigroup analysts led by Kinner Lakhani said yesterday, estimating the Frankfurt-based bank’s settlements could reach 10 percent of its tangible book value, or its assets’ worth.
Updated 6 Years ago

Anonabox sought $7,500 (£4,700) on crowdfunding site Kickstarter but got pledges of more than $585,000 in its first five days. The project was pulled by Kickstarter which said it had worries about who made the hardware being offered. Other problems with the project also emerged via social news site Reddit.
Updated 6 Years ago

Profits at the technology giant were helped by sales of its new iPhone 6 models, which were on sale for ten days during the three-month period ending 30 September. Total iPhone sales numbered 39.3m. However sales of Apple's iPad disappointed, with 12.3m sold, down from 13.1m a year earlier.
Updated 6 Years ago

Gross domestic product rose by 7.3% in the third quarter from a year earlier, compared to 7.5% in the previous quarter, official data showed. The figure beat market forecasts for 7.2% growth but still marked its weakest performance since March 2009.
Updated 6 Years ago

Decreasing oil prices are “inevitable” and the chance they will exceed $100 per barrel is “unlikely” the Russia’s Finance Ministry said. However, the Russian budget can withstand lower prices. “The market is biased in favor of excess supplies. That is why price reduction is inevitable; it will have a structural character. We are unlikely to see prices higher than $100 per barrel in the near future,” Maksim Oreshkin, the head of the Russian Finance Ministry's strategic planning department told RBC TV in an interview.
Updated 6 Years ago

Russia’s recent trade figures show strengthening ties eastwards, not westwards. Trade with the 28-nation European Union declined 3.2 percent from the same period last year, whereas trade with China increased by 3.4 percent. The EU remains Russia's biggest trading partner and made up half of all trade worth $263.3 billion in the first half of 2014, but China remains the strongest single trade partner at $59.1 billion, Russia’s statistics bureau announced Monday.
Updated 6 Years ago

WSTC Financial Services Limited (WSTC), a dealing member of the Nigerian Stock Exchange (NSE), has envisaged a slide in the value of the naira as the 2015 general elections approaches. This is following the prevalence of domestic uncertainties, weak economic fundamentals and impending increase in interest rates in the US. Meanwhile, analysts do not expect the downward pressure on the naira to subside within the forth quarter of 2014.
Updated 6 Years ago

Anyone who has spent a great deal of time within the world of business is probably well aware of the term “POS,” which stands for Point of Sale system. Anyone who has not heard the term before may be surprised to find out that he or she most likely partook in POS systems during his or her last visit to a favorite restaurant. POS systems are incredibly popular among businesses, and restaurants continue to find that these complete kit systems are especially useful concerning customer service and the tracking of complicated orders while simultaneously simplifying any responsibilities associated with bookkeeping and tracking of funds.
Updated 6 Years ago