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Bonus clawback plans could damage London

London Canary Wharf

The Bank of England’s plans to impose seven-year clawbacks on bonuses and threaten bankers with jail could damage the City of London’s competitiveness and impose direct costs of more than £260m ($439.3m) on the country’s banks, the industry has warned.

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Axe In Wood

Barclays has cut 5,000 staff this year

Barclays has cut just under 5,000 staff this year as part of its plan to streamline the bank and axe areas that are unprofitable, leaving the bank with fewer staff than at any time since 2007.

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