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British PM vows crackdown on ‘reckless fat cats’

LONDON: Irresponsible company bosses who "line their own pockets" will face huge fines in the future, British Prime Minister Theresa May vowed on Sunday. May said she would outline plans in the coming weeks to crack down on "abuse" of the system by business chiefs, following the collapse of outsourcing firm Carillion last week. The proposals include giving the pensions regulator powers to issue punitive fines on company directors in cases of clear wrongdoing, according to The Observer. Writing in the Sunday…