Friday 19 January 2018

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RBS is considering increasing base salaries for its highest-paid investment bankers
RBS is considering increasing base salaries for its highest-paid investment bankers

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ROYAL Bank of Scotland is considering increasing base salaries for its highest-paid investment bankers to avoid European Union limits on bonuses. The newspaper also says that executives in the markets division may see their monthly wages nearly double. The Ulster Bank parent is considering a salary increase structure that would allow RBS to withdraw pay in the event of poor performance. Negotiations on the raise started with UK Financial Investments, the British government body responsible for the taxpayers' 82pc stake in RBS. The bank has no plans to implement widespread base salary hikes across the markets division.

Frankfurter Allgemeine Sonntagszeitung

German Finance Minister Wolfgang Schaeuble has warned members of the European Parliament they should back the deal of banks reached in Brussels last week. "I am very happy with what we have achieved with the banking union. Now the European Parliament has to meet its responsibilities, so that we can complete the European legislative process before the EU Parliament elections in May," he told the newspaper.

Sunday Telegraph

THE Bank of England will clamp down on home buying if there's evidence that prices are rising too quickly, deputy governor Andrew Bailey said in an interview. The bank may strengthen tests that potential buyers must go through before getting a mortgage, and increase the amount of capital banks must hold against household lending. The central bank is "watching the housing market very carefully", added Mr Bailey.

Sunday Business Post

AER Lingus was forced to cancel plans for a new route between Dublin and Halifax in Canada after the airline and unions could not agree on payments for pilots. The pilots wanted Aer Lingus to create a new base for layovers in Boston in return for an agreement to fly the new route to the city in Nova Scotia.

Irish Independent

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