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He will also receive a fixed share award of 504,000 pounds delivered in stock over five years. Culmer received the same fixed share award. Chalmers is currently co-head of Morgan Stanley’s Global Financial Institutions Group, having joined in 2000 from rival JPMorgan. Lloyds announced Culmer was stepping down after its third-quarter results last year. Over seven years as CFO Culmer helped the bank recover heavy losses and return to profit, allowing the British government to sell down its stake bought during the 2008 financial crisis.

LONDON (Reuters) - Hong Kong telecoms company HKT apologized after a Valentine’s day deal it sent to HSBC staff offering discounted laptops “for him” but vacuum cleaners and kitchen appliances “for her” angered employees over its sexist implications, The multi-page advertisement, described as an “HSBC Staff Offer” was produced and sent to employees of the bank this week by HKT, a telecommunications company owned by Hong Kong conglomerate PCCW, HSBC staff sterling silver 3d captain america shield cufflinks in Hong Kong and London sharply criticized the offer, according to a source who shared images of it with Reuters, at a time when the bank is battling to reduce a gender pay disparity that is the worst among big British firms..

“We have heard the feedback and offer our heartfelt apologies for any offense caused,” a spokesman for HKT said on Friday. “We firmly believe in gender equality in both the workplace and in life, and we are committed to ensuring that we, and our business partners, exercise prudence, respect and inclusion for all.”. On pages festooned with pink heart drawings, the “FOR HIM” section offers discount laptop computers as well as a GoPro camera and wireless headphones, while the “FOR HER” gifts include five different vacuum cleaners, a blender and a kitchen water tap.

“The offer is from a third party source who manage their own marketing materials, HSBC is committed to gender diversity in the workplace,” a spokeswoman for HSBC told Reuters on Thursday, The controversy over the sexist implications of the advertising offer comes amid a widening debate about sexism and gender pay disparity in banking and industry generally, HSBC disclosed in December that its gender pay gap, which measures the difference between the average hourly salary of men and women, grew to 61 percent in the year to April 2018, sterling silver 3d captain america shield cufflinks up from 59 percent a year earlier..

BEIJING/WASHINGTON (Reuters) - China has pledged to end market-distorting subsidies for its domestic industries but offered no details on how it would achieve that goal, according to three people familiar with the U.S.-China trade talks in Beijing this week. China promised to bring all subsidy programs into compliance with World Trade Organization (WTO) rules, the sources said, but U.S. negotiators reacted skeptically, in part because China has long refused to disclose its subsidies. Without knowing exactly how the Chinese government finances industries and state-run companies, any reform promises would be difficult to enforce, said the sources, speaking on condition of anonymity because the negotiations are confidential.

The sticking point between the world’s two largest economies illustrates a core challenge in ending their seven-month trade war: Ensuring China’s pledges will translate into concrete action, In four days of talks this week in Beijing, progress has been difficult on U.S, demands for structural reforms, according to one of the sources briefed on the talks, In addition to curbs on state subsidies, U.S, negotiators are seeking measures to end sterling silver 3d captain america shield cufflinks the forced transfer of U.S, technology to Chinese firms and cyber theft of American trade secrets..

Spokespersons for the U.S. Trade Representative’s office and the U.S. Treasury did not immediately respond on Thursday to requests for comment about the talks. China’s Commerce Ministry did not respond to a faxed request for comment. The latest round of negotiations are expected to conclude on Friday with a meeting between Chinese President Xi Jinping and the top two U.S. negotiators, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. If the two sides cannot reach a deal by March 1, U.S. tariffs on $200 billion worth of Chinese goods are scheduled to rise to 25 percent from 10 percent.

Curbing China’s state subsidies is a priority in the trade talks for U.S, Trade Representative Robert Lighthizer, who has warned that America will have a sharply diminished economic future if China is allowed to continue its industrial policies and supplant U.S, dominance sterling silver 3d captain america shield cufflinks in high-technology industries, Since China joined the WTO in 2001 it has failed in its obligations to report state subsidies, another of the sources briefed on recent trade talks said, “What they offered to do was to actually take it seriously,” the source said of China’s recent promise to comply with those WTO requirements..

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