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Thursday, August 17, 2023
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Trusted News Since 1995
A service for technology industry professionals
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Thursday, August 17, 2023
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650,405,989
Articles
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3+ Million Readers
With this move, the financial service provider aims to allocate funds for acquisitions, while also allowing Worldpay to accelerate its technology development.
(Isstories Editorial):- Surrey, United Kingdom Aug 10, 2023 (Issuewire.com) – FIS, a financial services provider, has inked a deal to transfer a significant share of its Worldpay Merchant Business solutions division to GTCR, an American private equity firm. This transaction, valued at $18.5 billion, marks a transformative agreement. As part of the deal, FIS will retain a 45% ownership stake in Worldpay, with GTCR becoming the new majority owner, reports FinTech Magazine.
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The article calls this agreement an “expected” move, as FIS had previously announced its plan to spin off Worldpay in February 2023….
HCL Tech CEO C. Vijayakumar earned a total salary of $3.46 million in the 2023 fiscal, the lowest among the top five IT companies in India.
In contrast, last year Vijayakumar was the highest-paid, having earned Rs 130 crore ($16.52 million).
Salary components
The total amount includes a base salary of $2 million, a performance-linked bonus of $1.43 million, and benefits, perquisites, and allowances worth $0.03 million.
This is nearly 80% less than the $16.5 million, or about Rs 130 crore, he earned in FY22.
Long-term incentives
According to the company’s annual report, the pay decline had to do with the absence of long-term incentives, or LTI which are payable every two years on “achievement of milestones or parameters decided by the board”.
Last fiscal, Vijayakumar earned…
The UK government has proclaimed its commitment to reach net zero emissions by 2050. This action plan has been met with mixed reactions from the nation: will it be the key to saving our environmental future, or is it just another overly ambitious plan doomed from the start?
Regardless of personal opinions, investment in green technology is at full speed ahead around the globe. Now, a new company launched by motor makers Renault and Geely which will be committed to the development of low-carbon technology is set to have its headquarters in the UK.
The company will invest in low-emission petrol, diesel and hybrid engines. Not only will this meet the ever-increasing global demand for electric vehicles, but could it also help to prop up a government promise of a net zero…