Diamond gives up £20m bonus

Former Barclays chief Bob Diamond has given up bonuses worth up to £20m as the rate rigging scandal engulfing the bank deepens.

Diamond will get up to a year's salary, pension allowance and benefits worth around £2m.

According to the bank's chairman Marcus Agius he gave up the payment voluntarily.

Agius made the announcement on the bonus as he was grilled by MPs over the the manipulation of the Libor rate.