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The average pay for chief executives of a company in the blue chip FTSE 100 index was 5.23 million pounds ($7.6 million)last year, down from 5.36 million in 2014, a Reuters examination of corporate filings shows. In 2005, CEO compensation, including pensions and share awards, was just 0.1 percent of pre-tax earnings, the Reuters analysis of annual reports over the period shows. Rapid growth in executive pay has long drawn criticism from some politicians and media headlines denouncing corporate "fat cats".
President Recep Tayyip Erdogan on Friday warned the EU that Turkey would not change an anti-terror law for the sake of a deal on visa-free travel and migrant flows, throwing up a major potential stumbling block a day after his prime minister said he was stepping down. In a typically combative speech just 24 hours after Prime Minister Ahmet Davutoglu said he would surrender his positions of premier and ruling party chief, Erdogan vowed to put to a referendum his controversial plan of a presidential system in Turkey as "quickly as possible". Davutoglu had championed the landmark March deal with the European Union under which Turkey would help reduce the flow of migrants to the bloc in exchange for incentives including the promise of visa-free travel for Turks to the passport-free Schengen Area.