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Sunday Papers: RBS stokes anger over City pay - money news

The bank is hiring John McIntyre, the dealmaker who successfully sued his last employer for a £2 million bonus in the High Court.


The Sunday Times

* Royal Bank of Scotland is poised to reignite the row over banker pay by hiring John McIntyre, the dealmaker who successfully sued his last employer for a £2 million bonus in the High Court.

* Blue-chip bosses who deliver a middling performance can expect to pocket more than £10 million over a five-year period, according to research compiled by Patterson Associates, a boardroom pay adviser.

* BT is poised to reduce its huge pension deficit by up to a third, or £3 billion, thanks to government rules that change the way that future liabilities of retirement schemes are measured.

* Fed chairman Ben Bernanke is on Wednesday expected to announce a further $500 billion of quantitative easing; the Bank of England is unlikely to follow Bernanke’s lead at its MPC meeting this week.

* Borrowers have only 10 working days to bag a two-year mortgage deal from NatWest pegged at 1.49 points above Bank rate, so only 1.99% currently, before it is withdrawn.

The Sunday Telegraph

* Lloyds Banking Group will confirm this week that it remains on track to make its first full-year profit since the bank's partial nationalisation two years ago.

* Doomsayers are selling Britain short, says top fund manager Tom Dobell; he believes the UK has plenty to offer investors during the recovery.

The Independent on Sunday

* Some of the world's biggest banks have appealed to Europe's banking watchdogs to water down plans to curb bonuses or risk losing its best bankers.

The Observer

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