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Goldman Sachs Looking to Improve Public Relations Through Renumeration

June 27th, 2010 | Comments Off | Posted in Economy

When the downward spiral of the global economy first took off down its course in 2008, many through out the United States and around the world found themselves outraged at the bonuses bankers were being given. The worst economic times brought out the harsher instincts of the public and investors alike, allowing politicians to leverage the sentiment to impose a whole slew of banking regulations in the US. These penalties and re-structuring meant banks had to shift the way they were being run and struggle to bring their public image back to a more positive level. Goldman Sachs is now going an extra mile to appease the public by renumerating its employees for 2010 through a series of items such as grocery store loyalty card points for its workers in the United UK. With loyalty cards being big business in the UK, the cards are seen as an alternative to cash that can save the company money while giving value to its employees. By working with a US firm, it decided the Nectar Points loyalty rewards programme would work best since these points are redeemable at giant retailers such as Apple, Amazon, Sainsbury’s and Argos.

The company’s cost will be high as it looks to pay out nearly 200 million points which are worth 2.5 pounds sterling for every 500 points. Certain restrictions will exist on a high end luxury goods. The programme is designed to cool public anger while at the same time rewarding loyal workers in the financial giant itself. Analysts believe it could get the company back on track.

50 Per Cent UK Tax Rate Spurs Head Hunter Frenzy

June 20th, 2010 | Comments Off | Posted in Economy

Dramatic news in the United Kingdom has struck the top earning workers at firms across the city of London due to a recent spate of reports indicating that the government may levy a 50 per cent tax against these top earners. The recent revelation that of all the main finance hubs in the nation, the UK’s capital would become the most punitive in terms of tax has lead to some level discontent among the work force in London firms. A survey has shown that 80% of those working at finance companies in the UK have already been approached by recruitment firms since the first days of 2010, a phenomenon which nearly half the respondents said was far more than in 2009. Those responding also said that the higher taxes would definitely spur them to consider their options if they should choose to move abroad where opportunities may be stronger. With these Britons looking over seas for their next work place, head hunters are swooping in to try for the best candidates that are now uncertain about remaining with their present company. By offering better salaries, UK firms hope they will be able to keep these top earners in the country. The salary hike has come to meet both the ego and financial desires of the workers and thus helped some firms be able to keep their present staff more easily than those firms which were not willing to consider raising the worker salary.

Bonuses may also keep these workers in place, but the bottom line is that London may experience a severe shake up due to this taxation, an effect that will be felt throughout the nation according to analyst predictions.