Don't miss

Replay


LATEST SHOWS

ENCORE!

Film Show: 'Citizen Four', 'The Circle' and 'Wolf Totem'

Read more

EYE ON AFRICA

Tangerine Dream: Afropolitan star Yemi Alade chats to FRANCE 24

Read more

MIDDLE EAST MATTERS

Iraq: Islamic State group's child soldiers

Read more

DEBATE

Netanyahu on Capitol Hill: Israeli PM calls for deal breaker with Iran (part 2)

Read more

DEBATE

Netanyahu on Capitol Hill: Israeli PM calls for deal breaker with Iran (part 1)

Read more

MEDIAWATCH

Online reactions to Netanyahu's speech to Congress

Read more

WEB NEWS

Egyptians mock IS group online

Read more

BUSINESS DAILY

Record losses at French nuclear firm Areva

Read more

IN THE PAPERS

'Obama needs to provide real answers to Netanyahu's arguments'

Read more

France

Govt to order ban on stock options and bonuses

Video by FRANCE 3 , Luke SHRAGO

Text by Marianne NIOSI , with wires

Latest update : 2009-03-27

Claude Guéant, general secretary to Nicolas Sarkozy, said on France 24 on Thursday that the government would order a ban on stock options and bonuses next week for top executives from bailed out French companies.

The general secretary to the French presidency, Claude Gueant, announced on FRANCE 24 on Thursday that the French government would issue a decree banning stock options and bonuses for executives heading companies that have been bailed out by public money.

 

“The decree will be issued next week, setting out conditions that will make handing out stock options or bonuses to companies that have benefited from state help illegal.”

 

Nicolas Sarkozy’s right-hand man also announced that the French business confederation MEDEF would from June be responsible for putting forward propositions on “sharing out value between executives, shareholders and employees”. If there are no “positive” propositions, public authorities “will take responsibility” and propose a text to the French parliament, he said.

 

Claude Gueant dismissed the possibility of taxing executives, as proposed by the US Congress, saying “the systems are not comparable”.

 

On March 19, the US House of Representatives adopted a bill that would enable a 90 % bonus tax to be levied on employees of companies that have received more than $5 billion from the state and whose earnings top 250,000 US dollars.
 



 

Date created : 2009-03-26

COMMENT(S)