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Banking

WireTap 0900 25/01/12

A round-up of the key stories across the specialist financial media, including news that UK Prime Minister David Cameron has demanded a cap on RBS chief exeuctive Stephen Hester's bonus.




Cameron insists on limit to Hester bonus

David Cameron has insisted that Stephen Hester, CEO of RBS, should receive a bonus of no more than £1 million – half what he received last year – as the UK government attempt to clamp down on executive pay.

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Citigroup to consider curther cuts

Citigroup is to consider further cuts to its securities unit after an investment of nearly $1 billion last year failed to boost revenues.

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Obama doubles down on taxing the rich

President Barack Obama has used his last State of the Union address before the November election to demand higher taxes for millionaires and restrictions on Wall Street.

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IMF's Lagarde: combining ESM, EFSF would boost confidence

The IMF’s managing director Christine Lagarde said yesterday that combining the EU’s temporary rescue fund with the permanent stability mechanism would help to boost confidence in the region.

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Orbán reprimanded by EU over budget

Hungarian Prime Minister Viktor Orban has been reprimanded by EU leaders for failing to strengthen his country’s finances as borrowing costs soar.

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