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Left-wing think tank: Wages should be capped by ‘High Pay Commission’

Recently, establishment of a "high pay commission" was called for by 100 politicians, academics and campaigners with the aim of dealing with the gap between rich and poor workers.

A list of public figures has been made by left-wing think tank Compass. The list includes names of those who agree the financial crisis was "significantly caused by greed" and support a review of salaries of top executives.

They compared it to the Low Pay Commission, which was set up in 1997 to advice on the minimum wage.

‘Scrappage’ scheme demanded by retailers for domestic appliances

As per the media reports, a 'scrappage' project is being sought by the retailers for domestic appliances like fridges.

It was forwarded by the British Retail Consortium (BRC) that a plan same as the "cash for bangers" scheme for the car trade would protect jobs, which will aid Britain to hit carbon emission targets by motivating people to switch to more energy-efficient white goods. Furthermore, it is also mulling for tax relief on energy efficient items.

RBS acquisition of ABN being reviewed by FSA

It has appeared that Royal Bank of Scotland's (RBS) acquisition of ABN Amro and its £12bn rights issue is being investigated by the Financial Services Authority. The mention of the inquiry was typed in a footnote in RBS's interim results.

The note by RBS read: "In April 2009 the FSA notified the group that it was commencing a supervisory review of the acquisition of ABN AMRO in 2007 and the 2008 capital raisings. The group and its subsidiaries are co-operating fully with this review."

Arrival of tourists increases business for Shaftesbury

It was today forwarded by Landlord Shaftesbury that the business for its tenants across the West End has increased due to a boost in overseas and domestic tourists to the capital.

The firm specified that with the arrival of visitors, healthy demand was maintained for its shops and restaurants in Covent Garden, Chinatown and Carnaby Street, since tenants continued to rake in profits despite the recession.

Housing market records largest fall this year

British housing market has recorded a 2.2% drop in average asking prices in the past one month as compared with the previous month’s figures.

Data compiled by Rightmove, a property website, revealed that the average asking price for a home in England and Wales was £222,762, about £5,102 as compared with the last month.

However, the market is still optimistic regarding approaching time. It should be noted here that summer is usually a sleeping time for the housing market.

Tesco to offer double points on Clubcards

UK retailer Tesco PLC has plans to make its sales better by re-launching its Clubcard, its loyalty scheme next week and offering card- holders double points on all spending at its store.

Tesco's new as well as existing Clubcard holders will get two points for every £1 they spend at any Tesco store or online, starting from Monday.

The points will finally be converted into vouchers which can be spent at cinemas, restaurants and attractions which have agreements Tesco.

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