Persimmon shareholders revolt over chief executive's 'grossly excessive' £75m bonus

Jeff Fairburn’s bonus could pay 4,100 of the company's full-time staff the Living Wage for a year
Persimmon shareholders rebelled on Wednesday against a “grossly excessive” £75m bonus awarded to the housebuilder’s chief executive Jeff Fairburn.
In a vote at the company’s annual general meeting, 48.5 per cent of ballots were cast against the pay deal while 30 per cent of shareholders abstained.
The company said it recognised that “a sizeable number of shareholders remained concerned” about the incentive plan, which also saw other senior executives awarded tens of millions of pounds.
Read more City drops ball as Persimmon narrowly wins AGM vote on CEO's pay Mr Fairburn's pay prompted widespread condemnation in December, after it was reported that he would collect more than £100m. After public outcry from politicians and shareholders, Mr Fairburn offered to cut the bonus £25m and said he would donate a “substantial proportion” to charity.
Finance director Mike Killo..

Tech We’re Using: How a News Junkie Stays Plugged In: Newsletters and Her Kids

How a News Junkie Stays Plugged In: Newsletters and Her Kids How do New York Times journalists use technology in their jobs and in their personal lives? Rebecca Blumenstein, a deputy managing editor for The Times, discussed the tech she’s using.
What are your favorite tech tools for spotting breaking news and trend stories?
I’ve always been a news junkie, and technology makes that much easier. I reach for my phone the moment I get up and scroll through the headlines of the major sites.
I’m a big fan of email newsletters, and they’re often the first thing I dive into every day. Politico’s Morning Media, The Times’s DealBook and morning news briefings, The Wall Street Journal’s morning email, and Ben Thompson’s Stratechery Daily Update are among my regular reads.
I also check Facebook and Twitter throughout the day. Facebook keeps me connected with a range of people, from my high school friends in Michigan to an extended community of people I know from working in Beijing. I find much mor..

City drops the ball as Persimmon narrowly wins AGM pay vote despite uproar over CEO's £100m

The advisory vote won the support of 51.5 per cent of investors, but there were an unusually high number of abstentions
Just how absurd does a CEO’s package have to get for shareholders to vote against the remuneration report of the company that employs them?
It’s fair to ask that question in the wake of the furore over Persimmon Homes handing a bonus worth more than £100m to CEO Jeff Fairburn.
The advisory vote on the company’s pay report at its York AGM was a close run thing, but in the end the builder won the day with 51.5 per cent voting in favour, 48.5 per cent opposed.
Read more Persimmon execs give up part of obscene bonuses: It's a empty gesture Help to Buy, Persimmon Homes profits and why our columnist is outraged Persimmon expects 2017 profits to beat market expectations There were an unusually high number of abstentions, which is what the more gutless among the City’s big investors like to do when they want to “send a message”.
For the record the votes withhe..

Twitter Stays on an Upswing, With Second Straight Quarter of Profit

Twitter Stays on an Upswing, With Second Straight Quarter of Profit
When Twitter posted its first quarterly profit a few months ago, many wondered if the result was a one-off or a repeatable feat.
The social media company answered on Wednesday with its latest quarterly earnings that showed it was still on an upswing.
For the first quarter, Twitter reported a profit of $61 million and said revenue rose 21 percent to $665 million. User numbers rose slightly to 336 million per month.
The results surpassed the expectations of financial analysts, and show that even as regulators worldwide turn a more skeptical eye toward social media companies like Twitter and Facebook over privacy concerns and for not doing enough to prevent the spread of misinformation and hate speech, their core advertising-driven businesses are in good shape.

Twitter’s stock has more than doubled in value in the past 12 months as the company has undergone a perception shift on Wall Street. While Twitter once struggled..

Twitter says its user numbers are growing as it hails progress in safety and quality of content

Social network beat expectations with revenue growth
Twitter grew revenues and daily user numbers in the first quarter of 2018, the social media firm said on Wednesday.
The group reported revenue was up 21 per cent compared to the first three months of 2017, to $665m (£477m), with advertising revenue also rising by 21 per cent to $575m.
US revenue grew by 2 per cent to $347m, while international revenue rose 53 per cent to $318m.
Read more Twitter announces new privacy policy ahead of European data law Twitter said its increased revenue reflected “better than-expected growth across all major products and geographies”.
The group swung to a net profit of $61m, or 8 cents per share, in the first quarter, from a loss of $61.6m, or 9 cents per share, a year earlier
Daily active user numbers increased by 10 per cent compared to the first quarter of last year, and were up 12 per cent against the previous quarter.
Shares in the group jumped 12 per cent in pre-market trading as the..