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Banking

WireTap 0900 27/01/12

A round-up of the key stories across the specialist financial media, including news that RBS has chosen to half its chief executive's bonus for the year


RBS halves chief’s annual bonus

RBS has sought to counter increasing public and political pressure by awarding CEO Stephen Hester a bonus of under £1 million, less than half of what he received last year.

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China home prices must fall 30% to reach reasonable level, lawmaker says

China’s property prices must see a 30% decline before they reach a reasonable level, according to He Keng, deputy director of the Financial and Economic Affairs Committee of the National People’s Congress.

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EU delays bank bond writedown plans

Michel Barnier, the European Union’s financial services chief, has said he will wait until Europe is “past the worst” of its fiscal crisis before implementing proposals to write down creditors at failing banks.

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BofA said to limit bonuses for investment bankers, traders

Bank of America is planning to freeze base salary levels and limit cash bonuses for some investment bankers, with some managing directors receiving no bonus at all.

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NYSE chief sees little chance of Deutsche Börse deal

Duncan Niederauer, chief executive of NYSE Euronext, has said he misjudged European competition authorities’ approach to the attempted merger with Deutsche Börse, saying there was only a “glimmer of hope” the deal would succeed.

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