Tuesday

11th May 2021

Ticker

EU to ban bonuses for firms saved by state

The EU Commission plans to ban paying executive bonuses at companies that have been rescued by a state share-buying program during the coronavirus crisis, the Guardian reports. The restrictions, which would include a ban on dividend payments and share buybacks, could be imposed on companies where the government has bought a stake in order to keep the business afloat. The planned proposal will have to be backed by the EU-27.

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First recovery euros could be paid out in July

Economy commissioner Paolo Gentoloni said the real challenge is whether member states can stick to their national plans and timelines. However, more than a dozen EU countries still need to ratify legislation to start the funding.

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