Things we're reading today include ...
Companies
Credit Suisse to cut bonuses budget by 5% - The Times
Top Credit Suisse bankers to bear brunt of Chancellor’s bonus tax - The Times
Citigroup reports loss of $7.6bn - BBC
Big bonuses at Citigroup despite huge losses - The Independent
Citigroup cuts compensation by 20% as losses fall - The Times
Institutional shareholders not consulted over RBS bonus payments - The Telegraph
IBM profits rise on cost cutting - BBC
Markets
Ben Bernanke requests audit of Fed's AIG bail-out - The Telegraph
Bank of England Governor Mervyn King calls for merger of G20 and IMF - The Telegraph
Row brews over credit card limits - BBC
Icesave referendum date finalised - BBC
Quote of the Day:
"This is a frustration borne out of a sense of powerlessness in the face of the bonus culture."
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...