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Gordon Brown Joins Bonus Bashers

'The UK, France and Germany have called on the European Union to send a strong message at the G20 in Pittsburgh that it is “fully and firmly resolved” to implement stimulus plans.

Banks, Bonuses, Tax & Zen

'The test of a first-rate intelligence is the ability to hold two opposing ideas in mind at the same time and still retain the ability to function'. - F Scott Fitzgerald

Never Mind The Bailouts

The 16th annual Institute for Policy Studies 'Executive Excess' report exposes this year's windfalls for top financial bailout recipients.

Financial Markets Jobs Will Come Back - But Not Until......

City of London at Night

Bloomberg reports that, according to a new study by the City of London, employment levels at British, French and German financial markets / services firms will not return to 2008 levels before 2013. According to Bloomberg data, European banks and financial markets / services firms have cut some 140,000 jobs since the third-quarter of 2007.

BofA, Commerzbank / Dresdner Kleinwort, Lehman, Macquarie, Nomura, UBS

The Wall Street Journal reports that Bank of America is said to have offered to repay the US government part of its bailout support, perhaps as much as $20bn of the $45bn it has taken over the last year or so. Repayment of $20bn would mean that the bank would no longer by regarded as an 'exceptional' aid recipient, and it would therefore not have any of its compensation overseen by the US 'pay czar'.

Some Firm Bonus Payouts May Come Earlier For This Year

The Times reports that some hedge funds, fund managers and investment banks (mainly European or Japanese) are considering paying 2009 bonuses before April 4th next year, in order to save UK-based high-earners the additional 10% tax which will be imposed on anyone earning over £150,000 effective 5th April.

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