Barclays bonuses cut by £450m

Sky News reports that Barclays will be reducing its staff bonus pool by £450m. This comes as a result of the Libor-rigging scandal, and is in excess of the £291m fines imposed by US and UK regulators. Barclays will still award £1.8bn in bonuses to staff. This has not yet been confirmed by Barclays.

The disparity between the two figures underlines the determination of Antony Jenkins, Barclays’ chief executive, to demonstrate accountability across the bank for the reputational crisis that engulfed it last summer, according to insiders.

(Sky News)