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4 February 2012
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Fred Goodwin, the former chief executive of the Royal Bank of Scotland, was stripped of his knighthood by the Forfeiture Committee, which said he had ‘brought the honours system into disrepute’. Stephen Hester, the chief executive of the Royal Bank of Scotland, turned down a £963,000 shares-only bonus payment in the face of ‘enormous political pressure’. The Institute for Fiscal Studies said that the government was borrowing £2.9 billion less this year than expected and that there might be room for tax cuts in the budget next month. A man in Bournemouth found blue spheres of jelly an inch...
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4 February 2012
James Forsyth
Bob Diamond, the chief executive of Barclays bank, is not a man inclined to bend to the public mood. ‘There was a period of remorse and apology for banks,’ he told MPs this time last year. ‘I think that period needs to be over.’ His remarks presaged the coming confrontation between Diamond and Parliament over the Barclays bonus pool. He may think the bankers’ period of remorse and apology should be over but MPs and the public do not.
The Labour leadership, sensing a political opening, is determined to have the Barclays bonuses debated on the floor of the...
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4 February 2012
Rod Liddle
Who shall be the next Archbishop of Canterbury, do you suppose? They are jockeying for position at the moment, suffused with godliness and the distinct suspicion that old beardie has had more than enough and may wish to shuffle off to a warm university sinecure some time soon. The more cynical among you might not give a monkey’s and, indeed, suggest that jockeying for position to inherit Rowan’s mantle is akin to jockeying within the Romanov family to inherit Nicholas II’s mantle in about 1915. As with most artefacts of western civilisation — manufacturing, education, the armed forces, the press...
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4 February 2012
Jonathan Wynne Evans
At next week’s General Synod, the plotters-in-chief will be out in force, but this gossiping and manoeuvring is not just a sign of the archbishop’s demise. Throughout his time in office, Rowan Williams has been isolated and undermined — not by the media, but by his own clergy.
The case for him stepping down early was made privately by the Bishop of London, Richard Chartres, to a few friends at last summer’s York Synod. This almost scandalous suggestion quickly spread across the bars on the university campus where the Church holds its parliament each year, and only after it...
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4 February 2012
Bonus culture
Some have called for an end to a ‘bonus culture’ in banks and big firms. But bonus culture has been around a long time…
— Around the year ad 70, Roman legionnaires received bonuses of 25 denarii to supplement their salaries of 225 denarii.
— Bonuses were recorded by 14th-century Florentine banks, with one employee of the Peruzzi Company receiving 40 lire to supplement a salary of five times that sum.
— In 1965 India passed the Payment of Bonus Act, which entitled employees to a bonus of 8.33 per cent of their salary, and...
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4 February 2012
Brendan O'Neill
There is a brilliant irony to the campaign to ‘kick racism out of football’: its backers — the commentators and FA suits driving this petit-bourgeois push to clean up footie — think in a similar way and use very similar lingo to the football-terrace racists they claim to hate.
Indeed, they have fully appropriated the racial thinking of those dumb blokes who used to hurl bananas at black football players. But they have turned it against white working-class football fans, whom they look upon as childish, inferior, tribal and monkey-like.
Much has been made of recent, allegedly racial clashes on...
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