Sunday, February 23, 2014

HSBC to Announce Bonuses Totalling £2.4 Billion

LONDON EVENING STANDARD: HSBC will announce staff bonuses totalling just under £2.4 billion globally for 2013 and is expected to report a significant rise in pretax profit, according to reports.

Europe's biggest bank is expected on Monday to announce the size of its bonus pool, a sensitive issue as many Britons still blame banks for the 2008 financial crisis after which the state was forced to bail out RBS and Lloyds.

Earlier this month Barclays prompted an angry reaction from politicians and labour unions after it increased its bonuses by 13 per cent to £2.4 billion even as it announced plans to axe 12,000 jobs. » | Agency | Saturday, February 22, 2014