Tesco to raise store staff wages by 10.5 percent over two years
LONDON Tesco, Britain's biggest private sector employer, is to raise pay for hourly paid store staff by an inflation-beating 10.5 percent over the next two years, it said on Friday.
Polymer maker Victrex Plc (VCTX.L) said on Wednesday Chief Executive David Hummel would retire from the company after 24 years at the helm and named Jakob Sigurdsson as his successor.
Sigurdsson, former CEO of polymer maker Promens, will join the company on Sept. 1 as chief executive-designate. He is currently chief executive of VIS Insurance Ltd (VISS.IC), the largest Icelandic insurance and re-insurance company, Victrex said.
Hummel will step down as CEO on Sept. 30, but will remain on the board as an executive director and retire on March 31, 2018, the company said.
(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Gopakumar Warrier)
LONDON A group of four international investment funds offered to inject 1.6 billion euros (1.4 billion pounds) of fresh capital into two ailing Italian banks in Veneto at the end of May, sources told Reuters, but their plan was not pursued by Rome along with more recent approaches to be part of a rescue deal.
ROME/BRUSSELS Italy is set to approve an emergency decree to wind up regional lenders Veneto Banca and Banca Popolare di Vicenza using state aid on Saturday, a source close to the matter said after the European Commission gave a preliminary green light to the move.