Two of Britain's biggest banks have laid out their defence of the bonus culture following new evidence that bankers are on course for another year of bonanza pay-outs, The Daily Telegraph says.
HSBC revealed yesterday that costs in its investment bank at the half year had risen to "reflect a rise in performance-related pay," while Barclays reported that the "average net income generated per member of staff" in the investment bank had increased in the half from £134,000 last year to £188,000. Full story...
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