UK & World News
The latest UK & World news stories from the Press Association.
Barclays slashes 2011 bonus pool
08:05, Feb 10 2012
Banking giant Barclays has slashed the bonus pool for its investment banking arm by 32% in 2011 to £1.5 billion amid mounting pressure over the controversial payouts.
The average bonus for staff at Barclays Capital was cut by 30% to £64,000 as volatile market conditions saw the powerhouse division's profits slide 32% to £2.96 billion.
Meanwhile, the group total bonus pool was down 25% at £2.2 billion with the average payout for a group employee down 21% year on year to £15,200.
Elsewhere, the bank, which reported pre-tax profits of £5.8 billion for 2011, down 3% on the previous year, said it had capped the cash part of bonuses for investment bankers at £65,000. This compares to £2,000 at the state-backed banks.
The results come after weeks of conflict over bankers' bonuses, in which Royal Bank of Scotland chief Stephen Hester turned down his £963,000 bonus amid mounting pressure and Lloyds boss Antonio Horta-Osorio waived his own payout following a leave of absence.
Bomber kills 90 at military drill 15:05, May 21 2012
At least 90 soldiers were killed and dozens of others injured when a suicide bomber blew himself up at a military parade drill in the Yemeni capital Sanaa. more
Mandelson denies deal with Murdoch 15:05, May 21 2012
Lord Mandelson has denied there was any deal between Labour and Rupert Murdoch's newspaper empire ahead of the 1997 general election. more
MacAskill defends Megrahi release 15:05, May 21 2012
Scotland's Justice Secretary has defended his decision to release the Lockerbie bomber almost three years ago as the only man convicted of the tragedy is buried in Libya today. more
Bomber kills 60 at military drill 14:05, May 21 2012
At least 60 soldiers were killed and dozens of others injured when a suicide bomber blew himself up at a military parade drill in the Yemeni capital Sanaa. more
Olympic flame goes out during relay 13:05, May 21 2012
The Olympic torch went out for the first time during the London 2012 relay, organisers have confirmed. more
Missing children website relaunched 13:05, May 21 2012
An official website to help find missing and abducted children from the UK has been relaunched by the police's specialist child protection agency. more
Watchdog launches Hunt inquiry 13:05, May 21 2012
Westminster's sleaze watchdog has launched an inquiry into Culture Secretary Jeremy Hunt following claims that he failed to register donations from media firms, it was revealed. more
38 soldiers killed in Yemen attack 12:05, May 21 2012
At least 38 soldiers were killed and dozens of others injured when a suicide bomber blew himself up at a military parade drill in the Yemeni capital Sanaa. more
Miliband attacks social inequality 12:05, May 21 2012
Ed Miliband has accused the Government of taking backward steps on social mobility by allowing inequality to grow and denying bright youngsters from poor backgrounds the chance to succeed. more
Blair 'said no deal with Murdoch' 12:05, May 21 2012
Tessa Jowell sought an assurance from Tony Blair he had made no deal with Rupert Murdoch on media regulation when she was appointed culture secretary, the Leveson Inquiry has been told. more
The latest UK & World news stories from the Press Association.
