While other institutions, including Barclays and RBS, are close to a deal with authorities, Standard Chartered still plans to increase bonus payments, the Telegraph reports.
A spokesman for Standard Chartered said: “We do not want to be in a position where we’re having to treat our UK staff differently. The reality is that 97% of our staff are overseas and more than 90% of our profits come from outside the UK.”
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King attacked for crossing line into politics
Mervyn King has come under fire from fellow MPC members for being too political in his backing for government cuts.
Adam Posen has told MPs the governor of the Bank of England crossed the line between monetary and fiscal policy when he backed George Osborne’s deficit reduction plan earlier this year, the Guardian reports.
Referring to the Bank’s May inflation report, Posen said: “A number of the people on the committee, myself plus at least one other, were concerned that that statement could be seen as excessively political in the context of the election.”
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