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EU moves to cap bank bonuses

European Union officials last night struck a deal to cap bankers' bonuses at a year's salary. Under the deal some bankers may still earn twice their salary in bonuses if there is explicit approval from shareholders.

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Unite: Hester should show leadership over bonuses

Trade union Unite has attacked RBS chief executive Stephen Hester for not backing the proposed EU cap on banker bonuses.

Instead of setting an example to the world and supporting a cultural shift in the banking industry, Stephen Hester refuses to back the EU cap.

As the head of Britain's biggest bank he should be showing more leadership and drive change.

There would rightly be an outcry if those at the top took rewards that are undeserved.

– Dominic Hook, Unite national officer

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

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