Controversy over City pay may be re-ignited by a new European directive that would force pay deals over €1m (£880,000) to be disclosed by banks.
The requirement, buried in a 700-page document largely concerned with the amount of capital a bank must hold, was likened by pay experts to an idea raised by Sir David Walker, the City grandee who was commissioned to look at corporate governance in banks by the Labour government. MORE... Business Secretary Vince Cable called on the Bank of England to expand money supply if demand continues to falter following a promise by Chancellor of the Exchequer George Osborne to support economic growth. MORE...
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