10/21/2009

Banks in the City of London are forecast to award £6 billion (about $9.9 billion) in bonuses this year, according to a report by the Centre for Economics and Business Research. Meanwhile, government Financial Secretary Lord Myners is pressuring City banks to control bonuses. But Royal Bank of Scotland, one of the banks that received bailout funds from the government, has already announced plans to award £2 billion ($3.3 billion) in bonuses to executives.

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