Monday Papers: Pay of most directors cut, study shows - money news

Financial Times

* The Institute of Directors, in its annual directors’ rewards survey carried out by Croner Reward, said 46% of directors in unlisted companies or smaller businesses had either endured a freeze in their basic pay or a reduction in cash terms.

* Investors have started putting money back into equity funds in the US and Europe in a tentative sign of risk appetite increasing; last week, $2.7 billion flowed into US equity funds and $840 million into European funds, according to EPFR.

* Société Générale’s latest Mutual Fund Watch report showed US inflation-protected bonds attracting net inflows once again in October.

* Bank-owned asset managers systematically use investors’ money to prop up the share price of their parent company in the wake of significant falls in the stock price of the bank, an academic study has found.

* Wainbridge Capital, a newly established property investment manager, has completed the first capital-raising for its debut fund after securing backing from wealthy Russians.

The Times

* Figures from Incomes Data Services showed the earnings of FTSE 100 directors have gone up this year by 55%; by contrast, average employee earnings are growing by low single-digit percentages, if at all.

The Daily Telegraph

* Energy drinks company Red Bull increased its investment in its Formula One team last year by £25 million in a bid to win the 2010 championship, according to recently released documents.

Daily Express

* The banking sector takes centre stage this week, as trading updates provide a third-quarter health check on a host of Britain’s biggest companies.