Lloyds is in the spotlight for announcing potential bonuses of £120m after warning of annual losses amounting to £10bn at new sister-company HBOS.
In today's complex contractual environment, it seems that some bonuses are a legal requirement - in which case they should surely be ear-marked as salary?? The fallout from the bonuses wrangle is set to continue with the spotlight falling on any company that receives government backing.
The government is currently outlining a scheme to underwrite some of RBS riskier assets called 'toxic structured credit assets', this is designed to strengthen the position of the banks and will enable them to effectively 'cap' losses.
In other recession news, high street media retailer Zavvi closes it's doors on 20th February, although some jobs have been saved after deals with HMV stores and another company.
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The government is currently outlining a scheme to underwrite some of RBS riskier assets called 'toxic structured credit assets', this is designed to strengthen the position of the banks and will enable them to effectively 'cap' losses.
In other recession news, high street media retailer Zavvi closes it's doors on 20th February, although some jobs have been saved after deals with HMV stores and another company.
Related posts:
Government Intervention
Is this the new Great Depression?
UK reports GDP decline
Gordon Brown rescue plan
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