One of the architects of the EU's cap on bankers' bonuses has called for the UK government to be sued for allowing banks to sidestep the new rules as two more high street banks were preparing to hand their bosses up to £1m in extra pay to avoid the clampdown.
Banks, hedge funds and fund managers will recoup all the cash they were owed by the UK arm of Lehman Brothers when it collapsed five years ago, and the administrators said on Wednesday they expect to be left with a £5bn surplus.
Vince Cable has asked the Equalities and Human Rights Commission (EHRC) to advise him on the legality of all-female shortlists for top City jobs as part of the coalition's latest push to get more women on to the boards of major companies.
In The Wolf of Wall Street, sharp-suited Jordan Belfort, played by Leonardo diCaprio, makes calls from a scruffy strip mall in Long Island.
"Dear shareholder, this new EU law capping bonuses is silly so we've decided to exploit the enormous and very obvious loophole. Stuff Brussels: we're not paying ourselves less. Your co-operation in this matter is greatly appreciated."
The bosses of Britain's biggest banks are on course to be awarded millions of pounds in share payments to circumvent a Brussels-imposed bonus cap – a move that risks inflaming the toxic row over City pay deals.
British savers could suffer a £3.6bn cut in the value of their savings following the introduction of a financial transaction tax, a study into Brussels plans to raise a levy on City trading has claimed.
Mark Carney has stepped into the row about bankers' bonuses with a demand that a large chunk of the pay packages for senior staff should be deferred "for a very long time".
Royal Bank of Scotland has been warned that it faced a potential downgrade by the credit rating agency Moody's which is concerned that last month's profits warning may have weakened its financial strength.
The UK boss of Handelsbanken – the Swedish bank lauded by the government as a challenger to Britain's big five – on Wednesday expressed his frustration that the Swedish-based bank's employee ownership scheme has fallen foul of the taxman.