City bankers and financiers are scooping bumper pay rises to compensate for losing multimillion pound bonuses in a controversial development that will trigger fresh "reward for failure" rows.
The Observer has learnt that UBS, the stricken bank that last year received a £40bn Swiss government bailout, is paying London staff increases of between 15% and 20% at a time when many workers in Britain are forced to take wage freezes. More...
See also:
- The world is angry, yes, but what are we going to to about it?
- AIG bonuses "staggering in size", 7 execs received $7m each...
- US bankers grant themselves $20bn in bonuses...
- Where'd the bailout money go? Shhhh, it's a secret...
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