RBS paid its investment bankers an average of about 112,000 pounds ($176,108) each including salary, bonus and pension, spokeswoman Linda Harper said by phone on Thursday, a drop of 26 per cent from 152,000 pounds last year. Prime Minister David Cameron's government and the opposition Labour Party have made common cause in demanding pay restraint from banks bailed out.

RBS cuts investment banker pay

Business Standard

Royal Bank of Scotland Group Plc, Commerzbank AG of Germany and France's Credit Agricole SA booked losses on their Greek government debt two days after creditors agreed to the biggest sovereign restructuring in history.

RBS, Commerzbank, Credit Agricole take Greek hit after deal

The UK economy shrank in the fourth quarter as companies scaled back investment, underlining the risks to a recovery that Bank of England Governor Mervyn King says will be &ldquo;slow and uncertain.

UK GDP shrinks in Q4

Global hedge fund assets may rise 12 per cent this year to a record $2.26 trillion, as investors reduce cash and seek returns, according to an annual survey of investors by Deutsche Bank AG. The industry may attract $250 billion of new capital this year, according to the survey. The number of investors with 10 per cent to 30 per cent of their holdings in cash is expected to halve in the next six months, helping free up $39 billion for potential hedge fund investments, the survey showed.

Hedge fund assets may see record rise 

Most Asian currencies strengthened this week, with the Thai baht climbing to a five-month high, as upbeat US economic data and monetary easing in China spurred demand for riskier assets.

Asian currencies rise this week on US recovery

Copper traders are the most bullish in two months on speculation that demand will strengthen from the US to China at a time when stockpiles monitored by the world&rsquo;s biggest metals exchange are at a 2 &frac12;-year low.

Copper traders most bullish in 2 months on demand 

US banks pushed regulators to widen proposed restrictions on trading and hedge-fund ownership by foreign firms, then encouraged governments around the world to complain about the rule's reach.

Bank lobby widened Volcker rule before inciting outrage

European Central Bank (ECB) president Mario Draghi&rsquo;s success in quelling a bond-market rout across the euro region&rsquo;s periphery masks a failure by the region&rsquo;s banks to bolster their capital.

Draghi's unlimited loans are no panacea

Sesa Goa Ltd and Sterlite Industries (India) Ltd, controlled by billionaire Anil Agarwal, will combine to reduce the debt of parent Vedanta Resources Plc, which paid $8.67 billion to buy Cairn India Ltd in December.

Move to help Vedanta pare debt

The richest 70 members of China&rsquo;s legislature added more to their wealth last year than the combined net worth of all 535 members of the US Congress, the President and his Cabinet, and the nine Supreme Court justices.

China's billionaire Congress makes its American peer look poor

European Commission President Jose Barroso said he expects &ldquo;no decision&rdquo; on financial firewalls to be reached at a March 1-2 European Union summit.

No decision expected in March summit: Barroso 

China is likely to see little slowdown in growth this year even as its government needs to overhaul its economy to manage expansion over the next two decades, World Bank President Robert Zoellick said.

China may have soft landing in near term: Zoellick

Citigroup Inc, the third-largest US lender, said cyber attackers got into customer accounts last year as the threat of electronic intrusions increased.

Attackers gained access to customer data: Citi

The US and Germany sparred about how to tackle Europe's sovereign debt crisis as a meeting of officials from the world's biggest economies struggled to break an impasse over outside help for the region.

Geithner, Schaeuble spar over debt crisis

News Corp returned to the Sunday tabloid market in the UK on Sunday as Rupert Murdoch counts on readers having moved on from the phone-hacking scandal that led to the closure of the News of the World seven months ago.

Sun published as hacking anger wanes

US President Barack Obama&rsquo;s administration is buying fewer hybrid and electric cars and more vehicles that can consume both ethanol and gasoline to meet 2015 environmental goals, favoring older technology over new.

Obama's green car plan hits speed bump

Warren Buffett, the chief executive officer (CEO) of Berkshire Hathaway Inc since 1970, told shareholders that the board had decided on his eventual replacement.

Berkshire selects eventual Buffett replacement

The Standard &amp; Poor&rsquo;s 500 Index advanced to the highest level since June 2008 amid better-than- estimated consumer sentiment and home sales reports.

S&P 500 rises to highest level since 2008

Confidence among US consumers rose more than forecast in February, reaching a one-year high as Americans grew more upbeat about the outlook for the economy.

Consumer sentiment in US at one-year high 

A group led by Apollo Global Management LLC agreed to acquire El Paso (EP)&rsquo;s oil and natural gas exploration business for $7.15 billion in the second-biggest private equity takeover of an energy producer.

Apollo-led group buys El Paso unit for $7.15 bn

News Corp will return to the Sunday tabloid market in the UK tomorrow, as Rupert Murdoch counts on readers having moved on from the phone-hacking scandal that led to the closure of the News of the World seven months ago.

Bloomberg