| 11.7°C Dublin

US bonus rise

Wall Street bonuses rose by 17pc in the last year to $20.3bn (€14.9bn) in a year that the financial world went into meltdown.

New York State Comptroller Thomas DiNapoli said that total compensation at the largest Wall Street securities firms grew even faster and industry profits could exceed an unprecedented US$55bn (€40.6bn) in 2009.

The total does not include bonuses taken in stock options instead of cash.

DiNapoli said compensation at Goldman Sachs, Morgan Stanley and JPMorgan Chase increased by 31pc in 2009.