Sunday, March 03, 2013

Swiss referendum 'backs executive pay curbs'

Swiss voters appear to have backed proposals to impose some of the world's strictest controls on executive pay, projected referendum results suggest.

Some 70% are thought to have supported plans to give shareholders a veto on compensation and ban big payouts for new and departing managers.

Business groups argued the proposals would damage Swiss competitiveness.

But analysts say ordinary Swiss are concerned about a growing economic divide in the country.

The vote comes just days after the EU approved measures to cap bankers bonuses. Full story...

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