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‘Morgan Stanley CEO made $6 mn for 2012’
Morgan Stanley CEO James Gorman received lower compensation for 2012 after a difficult year for the bank in which profits declined. Gorman received $6 million in total compensation for 2012, including $800,000 in salary, $2.6 million in deferred cash and $2.6 million in stock options, a person familiar with the matter said on Thursday. He did not receive a cash bonus. Gorman made $8.56 million for 2011, when counting salary, deferred cash and restricted stock grants. Morgan Stanley’s board also plans to award Gorman an undetermined amount of long-term incentive pay for 2012, the source said.
N Korea threatens war with South over sanctions
North Korea threatened to attack rival South Korea if Seoul joined a new round of tightened UN sanctions, as Washington unveiled more of its own economic restrictions following Pyongyang’s rocket launch last month. In a third straight day of fiery rhetoric against regional powers, the North directed its verbal onslaught at its neighbour on Friday, saying: “‘Sanctions’ mean a war and a declaration of war against us.” The reclusive North has this week declared a boycott of all dialogue aimed at ending its nuclear programme
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