1. Richard Edgar

Hester: Bonus cap will chase away economic activity

ITV News Economics Editor Richard Edgar speaks to Stephen Hester. Credit: ITV News

RBS chief executive Stephen Hester has warned that a proposed cap on banker bonuses will chase “economic activity ... to where the playing field is more favourable".

On the day the bank announced losses of £5.2 billion, Hester defended his record and justified his bonus.

“We're doing a lot for this country from a very big mess,” he said.