Bombardier Inc.'s pledge to defer paying out more than half of last year's planned compensation for its six top paid executives until 2020 to placate angry Quebeckers doesn't go far enough, a shareholder rights group and opposition lawmakers said.
"The heart of the problem hasn't been resolved," Daniel Thouin, president of Montreal-based shareholder rights group Médac, said Monday. "The compensation is deferred but it's being maintained. In our opinion, nothing has really changed. We'll continue our push asking shareholders to vote against this."
"There is nothing to applaud here," said opposition lawmaker Amir Khadir of the Quebec Solidaire party. "Bombardier leaders seem incapable of understanding that what people are asking for is not to delay their bonuses, it's to renounce them definitively." Story
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DAILY DEALS
Canadian engineering and construction company SNC-Lavalin Group Inc has offered to buy WS Atkins for about 2.1 billion pounds ($2.6-billion), the British engineering and consultancy firm said on Monday. Story
ELSEWHERE IN FINANCE
The U.S. government has ordered Wells Fargo to reinstate a former bank manager who lost his job after reporting suspected fraudulent behaviour at the bank. Story
The number and dollar value of U.S. initial public offerings ballooned in the first quarter, while investor demand for the new shares was robust. That bodes well for a market that has languished in recent years as technology startups and others opted for private funding. Story (WSJ, subscription required)
The strange case of a Chinese dairy company whose stock collapsed last week is raising fresh questions about how thoroughly Western banks are vetting the Chinese firms they bring to market. Story (WSJ, subscription required)
French's Foods is up for sale, and Kraft Heinz is on the hunt for acquisitions. But the respective U.S. mustard and ketchup leaders aren't the perfect match they might sound. Story (WSJ, subscription required)
Tesla Inc.'s Elon Musk poked fun at short sellers as his electric-car maker's stock surged to a record, vaulting its market value past century-old rival Ford Motor Co. Story
Oprah Winfrey collected the biggest compensation among the directors of Weight Watchers International Inc. last year, despite skipping several board gatherings and not attending the company's annual meeting. Story (Bloomberg)