H
trending
H
HOYONEWS
HomeBusinessTechnologySportPolitics
Others
  • Food
  • Culture
  • Society
Contact
Home
Business
Technology
Sport
Politics

Food

Culture

Society

Contact
Facebook page
H
HOYONEWS

Company

business
technology
sport
politics
food
culture
society

© 2025 Hoyonews™. All Rights Reserved.
Facebook page

Anglo American’s merger bonus was a pay wheeze too far | Nils Pratley

about 12 hours ago
A picture


Shareholder rebellions over executive pay aren’t what they used to be,In the past 18 months, bumper incentive arrangements for the bosses have been approved at AstraZeneca, the London Stock Exchange Group and Smith & Nephew,All those companies have managed to argue successfully that, since the bulk of their revenues are made on the other side of the Atlantic, the executives should be paid like Americans,Perhaps it was such favourable votes (for the executives) that persuaded the remuneration committee of FTSE 100 miner Anglo American that its cheeky “resolution 2” within the proposed $50bn all-share merger with the Canadian group Teck Resources wouldn’t cause a fuss,This resolution would have created, in effect, a £8.

5m bonus at the current share price for the chief executive, Duncan Wanblad, just for getting the deal over the line,The method would have been the roundabout one of amending the existing 2024 and 2025 long-term bonus schemes so that Wanblad would get a guaranteed payout worth 62,5% of the scheme’s maximum,The objection to that wheeze is obvious,Long-term bonus schemes are meant to do what they say on the tin – measure performance over the long term, which usually means at least five years.

You are not supposed to declare, after a couple of laps of the track, that everything is going splendidly because you’ve done a big deal and so a 62,5% victory can be declared,Now Anglo American says it has “reflected carefully on shareholders’ concerns” and will drop the resolution,A few big investors, including Legal & General Investment Management, had rightly objected,It is good that somebody is paying attention.

Anglo’s merger with Teck has generally gone down well with shareholders; they like the greater exposure to copper, the in-demand metal for electrification of the world’s energy grids, and the skinny premium being offered to Teck’s shareholders.But a bad precedent would be established if Anglo were allowed to hijack an agreed long-term bonus scheme and turn it into a short-term one.If the deal with Teck is as good as Anglo and Wanblad believe, he’ll be rewarded anyway because the value of his share-based rewards under the 2024 and 2025 schemes will inflate.Anglo’s shares have done well this year, especially after the Teck deal was announced in September, but you still have to wait until the end of the race before dishing out prizes.There is a separate argument as to whether Wanblad and his senior colleagues deserve bigger incentive packages because they’ll be running a bigger company and will have to relocate to Canada.

That seems to have been the thought behind the remuneration committee’s attempted tinkering to encourage “successful delivery of the merger”.But it is a separate issue: if you want to pay Wanblad more because Anglo-Teck will be a bigger beast, make the argument openly.Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionAnglo will now be obliged to do exactly that.It says it will be back next year with an “updated directors’ remuneration policy”.So, one way or another, Wanblad will probably end up quids in.

But at least Anglo, having been forced into an embarrassing 11th-hour climbdown, will be made to do things by the book.
foodSee all
A picture

Christmas mixers: Thomasina Miers’ recipes for fire cider and spiced cocktail syrup

Despite being known for shaking a cocktail on Instagram now and again, very little will induce me to last-minute cocktailery if I am entertaining a serious number of guests. However, a good drinks recipe that you can prep in advance is a lovely thing to dazzle your friends with and to gift over Christmas. With or without alcohol, this pair look good and taste delicious, and should help everyone ease into the December festivities.This makes a delicious base to which you can add soda, juice, tonic or any other mixer for a thirst-quenching and delicious alternative to an alcoholic drink in the evening. Prep 15 minInfuse 1 week+ Makes 500ml bottleFor the fire cider2 jalapeños, finely sliced seeds and all1 large thumb of ginger, peeled and finely sliced2 branches fresh rosemary1 cinnamon stick3 heaped tbsp honey2 garlic cloves, peeled1 thumb turmeric, peeled and finely sliced (optional)350ml apple cider vinegarFor the cranberry fizz (serves 1)30ml fire cider 75ml cranberry juice1 wedge of orange Sparkling water, to topMix all the ingredients for the fire cider in a sterilised 500ml jar, then put in the fridge for at least week, and preferably three to extract the most goodness from the ingredients

4 days ago
A picture

Jamie Oliver to relaunch Italian restaurant chain in UK six years after collapse

Jamie Oliver is to revive his Jamie’s Italian restaurant chain in the UK, more than six years after the celebrity chef’s brand collapsed.Jamie’s Italian is poised to be relaunched in the spring, starting with a restaurant in London’s Leicester Square.Oliver’s return to the UK restaurant scene is being backed by Brava Hospitality Group – the private equity-backed group that runs the Prezzo chain – which intends to relaunch the brand across the UK.“As a chef, having the chance to return to the high street is incredibly important to me,” he said. “I will drive the menus, make sure the sourcing is right, the staff training, and ensure the look and feel of the restaurant is brought to life in the right way

4 days ago
A picture

Maximum protein, minimal carbs: why gym bros are flocking to Australia’s charcoal chicken shops

From El Jannah’s webpage dedicated to ‘health-conscious individuals’ to Habibi Chicken’s ‘Gym Bro’ pack, businesses are catering to the post-leg day crowdGet our weekend culture and lifestyle emailPopularised in Australia by Balkan and Lebanese immigrants, charcoal chicken has long been part of our comfort-food canon. But recently, the humble chicken shop has had a renaissance – driven by fresh takes on the classics, the expansion of longstanding chains and a surge of protein-conscious gym goers.In June, charcoal chicken chain El Jannah, which has more than 50 stores, launched a page on its website dedicated to protein and macros – complete with recommendations for the best post-leg day order – a clear nod to the fitness crowd.In Wagga Wagga, Habibi Chicken has a “Gym Bro” pack – a half or quarter chicken, tabbouleh, pita and toum, no chips. Co-owner Mariam Rehman says it’s a top seller, designed to maximise protein and reduce carbs

4 days ago
A picture

Helen Goh’s recipe for edible Christmas baubles | The sweet spot

These edible baubles make a joyful addition to the Christmas table or tree. Soft, chewy, marshmallow-coated Rice Krispies are studded with pistachios and cranberries, chocolate and ginger, or peppermint candy cane; they’re as fun to make as they are to eat, and they make a perfect little gift. To add a ribbon for hanging, cut small lengths of ribbon, then loop and knot the ends. Push the knotted end gently into the top of each ball while it’s still pliable, then reshape around it, so it holds the knot securely as it sets. Alternatively, wrap each bauble in cellophane, then gather at the top and tie with a ribbon, leaving a long loop for hanging

4 days ago
A picture

Chocolate tart and zabaglione: Angela Hartnett’s easy make-ahead Christmas desserts – recipes

When you’re the cook of the house, you spend quite enough time in the kitchen on Christmas Day as it is. And, after those time-consuming nibbles, the smoked salmon starter and the turkey-with-all-the-trimmings main event, the last thing you want is a pudding that demands even more hands-on time at the culinary coalface. For me, the main requirement of any Christmas dessert is that it can be made well in advance, not least because, by the time the pudding stage comes around, I’ll be completely knackered and more than ready to put up my feet and finally relax (or, more likely, fall asleep on the sofa).Prep 15 minRest 3 hr+Cook 40 minServes 6-8For the sweet pastry500g plain flour, plus extra for dusting 150g caster sugar 250g cold butter, diced2-3 eggs, lightly beatenFor the filling640g 70%-cocoa dark chocolate, broken into small pieces800ml double cream 64g glucose syrup 64g cold butter, cubed 100g roasted hazelnuts, lightly choppedPut the flour and sugar in a large bowl, stir to combine, then add the diced butter and work it in with your fingertips until the mix takes on the consistency of rough breadcrumbs. Add two of the beaten eggs, then mix until the dough comes together into a ball; if need be, add the third beaten egg, but take great care not to overwork the dough

5 days ago
A picture

I called my recipe book Sabzi – vegetables. But the name was trademarked. And my legal ordeal began

Vegetables, in my experience, rarely cause controversy. Yet last month I found myself in the middle of a legal storm over who gets to own the word sabzi – the Hindi, Urdu, Punjabi, Persian, Dari and Pashto word for cooked veg or fresh greens. It was a story as absurd as it was stressful, a chain of delis threatened me with legal action over the title of a book I had spent years creating. But what began as a personal legal headache soon morphed into something bigger, a story about how power and privilege still dominate conversations about cultural ownership in the UK.When the email first landed in my inbox, I assumed it must be a wind-up

5 days ago
cultureSee all
A picture

Barbican revamp to give ‘bewildering’ arts centre a new lease of life

4 days ago
A picture

A minimalist statement or just Pantonedeaf? ‘Cloud dancer’ shade of white named Pantone’s 2026 colour of the year

4 days ago
A picture

Jimmy Kimmel on Pete Hegseth, ‘our secretary of war crimes’

5 days ago
A picture

Jimmy Kimmel on the Trump administration: ‘They have better-quality cabinets at Ikea’

6 days ago
A picture

Norman conquest coin hoard to go on show in Bath before permanent display

6 days ago
A picture

Jon Stewart on Trump claiming not to know about his own MRI: ‘That’s not physically possible’

7 days ago