Goldman to lift £1m cap on UK bonuses

Despite a 38% fall in earnings last year, the company's bonus pool was cut by only 5% to $15.3bn, with its 35,700 employees around the world set to receive an average bonus of £268,000, the Guardian reports. Last year Labour demanded that Goldman in London reduce bonuses as it imposed a tax on payouts of more than £25,000. Goldman said the tax had cost it $465m. Meanwhile, British banks are attempting to negotiate a ‘peace deal' with the government over measures to make bonuses more transparent. Royal Bank of Scotland and Barclays, which have big investment banking divisions, fear ...