Royal Bank of Scotland remains on course for a bruising showdown with the Government over bonuses after Sir Philip Hampton, the chairman, insisted that the bank must be allowed to pay "market rates" to staff in its investment bank and the chief executive, Stephen Hester, railed against "politicisation" of the bank.
Sir Philip denied that there had been a threatened "mass resignation" by the board if the Government interferes with plans to pay out £1.5bn this year, but he pointedly did not mention whether individual directors had offered to quit, the Independent writes. Full story...
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