Iain Duncan Smith has said there would have been "chaos" if ministers had overruled the board of RBS and vetoed a £963,000 share bonus for its boss.
The government has come under pressure to act over Stephen Hester's bonus as it owns 82% of the bank's ...
RBS is 83% owned by us and we think it is deeply wrong for you to accept this bonus at a time of austerity.
We demand that you do the right thing and ...
The boss of Royal Bank of Scotland should not get a bonus this year, Ed Miliband has said, as his party seeks to intensify pressure on the issue.
The ...
Our business editor said: "The governor of the Bank of England, Mervyn King, caught the mood [on Tuesday] when he pointed to the perceived unfairness ...
The size of the proposed payment had been widely criticised because the bank is largely owned by the taxpayer.
Chancellor George Osborne said it was ...
Ed Miliband is turning up the pressure on David Cameron in the escalating row over "crony capitalism" by demanding that the prime minister intervenes ...
Royal Bank of Scotland stoked a political row on Thursday night when it announced it had awarded its chief executive, Stephen Hester, a bonus worth ...
Ministers have previously said their hands are tied and the contract was agreed by the last Labour government.
The decision by the bank, which is 82% ...
Ministers said they stuck to a contract agreed by the last Labour government which "determined" bonus arrangements.
Labour said that was "nonsense" ...
As the row over RBS Chief Executive, Stephen Hester's £1m share bonus continues, a poll released today suggests most people favour a cap on bosses' ...
Sun Jan 29, 2012 4:49pm EST
* CEO could theoretically get 8 mln stg bonus
* Opposition calls for parliament debate, could strain coalition
By Sudip ...
There was a whiff of inevitability about the decision by Stephen Hester, the Royal Bank of Scotland chief executive, to waive his £1M ($1.57M) bonus ...
It comes just hours after the Labour Party said it would force a House of Commons vote calling for Mr Hester to be stripped of his bonus.
Mr Hester ...
Stephen Hester, CEO of the Royal Bank of Scotland leaves their annual general meeting on April 19, 2011 in Edinburgh. (Photo by Jeff J Mitchell/Getty ...
The chairman of the 82% taxpayer owned Royal Bank of Scotland (RBS) has said banker pay has been "high for too long" and needs to be "corrected".
But ...
Stephen Hester, chief executive of RBS, has decided to decline his bonus of shares worth almost £1m. Photograph: Murdo MacLeod
Stephen Hester, chief ...
The public is up in arms about some of the big bonuses being paid to the CEOs of big bailed-out banks. The boss of Britain's RBS, one of the biggest ...
Mr Hester told the BBC that he was "not a robot" and said there had been some "deeply depressing" moments.
However the chief executive said it would ...
Ed Miliband has hit back at the chancellor's warning that a row over bank pay and bonuses threatens to create an "anti-business culture".
In a speech ...
6:05am UK, Friday February 10, 2012
The bank, which employs around 56,000 staff in the UK, is expected to report pre-tax profits of £6.1billion for ...
