Famous five banks go looking for their bonus

By Jonathan Russell, City Diary Editor Published: 9:45PM GMT 01 March 2010

Now that"s how to understanding with the reward subject great PR for the banks but additionally maintains the element of profitable bonuses. Very accessible for all endangered in promissory note come destiny years.

Of march the big 3 bailed out banks additionally waived bosses" bonuses in the last integrate of weeks. The thing is distinct HSBC and Standard Chartered they didn"t discuss it us what they were going to do with the cash. So I thought I would ask them.

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"Er, well, there was no preference on the figure in the initial place. So the reward never existed," stumbled a spinner from Barclays, vagrant the subject of what only was waived then.

"It has not been accounted for and will not be accounted for," pronounced RBS in identical vein.

Only Lloyds had a little thought of where the income competence have gone. "It will be returned by the organisation (to shareholders funds). It will not be redistributed in to the incomparable reward pot."

Good work.

The finish of the bruise is nigh

If you were disturbed about the pulsation the banking suffered on Monday gangling a thought for a contentious City "trader and investment" manager Vince Stanzione.

Last week the man put out a matter notice that the pound"s "collapse was imminent", and attributing it to Singapore formed financier Jim Rogers.

Roll the time brazen twenty-four hours and he was retracting it. Apparently Jim Rogers" views were zero of the kind.

"The quotes attributed to Jim Rogers yesterday together with the one that the bruise could fall inside of weeks were released by me prematurely." Ouch.

Apparently the feud in between the dual men was not the debility in the pound, but when it would appear. Jim pronounced inside of months. Vince thought it was inside of weeks. What happens? The bruise collapsed inside of days.

The man from the Pru cut short

To the alternative big headlines of the day, the Pru"s due takeover of AIG"s Asian operation. Everyone was penetrating to attend to from Pru trainer Tidjane Thiam about his plans on Monday together with the fabricated ranks of City analysts. A discussion call was organised, afterwards postponed, afterwards rearranged, and eventually cancelled when the line kept slicing in and out.

So instead of carrying a live call with the Pru, analysts were invited to attend to a pre-recorded talk (and keep their questions to themselves I presume). If the understanding turns out to be without a friend with analysts you"ll know why.

Bacon, egg, coffee and a �3m flat

To the dance hall of the London"s Cumberland Hotel where at slightest one piece of the skill marketplace has been holding up.

I assimilate the new Allsop residential auction was gatecrashed by a Middle Eastern businessman.

Interested by the sound entrance from the auction, the office worker interrupted his breakfast, entered the ravel and soon picked up a three-bedroomed prosaic in Belgravia for �3m.

The auctioneer Gary Murphy was so repelled he interrupted the behest to check the bidder was serious.

It turns out he was, and after being reminded not to vanish after the gavel came down, the sale was completed.

"It set a new jot down for the area," says my birth mark "and presumably a new object for rich guest to select from the Cumberland"s breakfast menu."

Perloff tells Amex to take a hike

A discerning preview of the expected calm of skill investor, Andrew Perloff"s chairman"s ramblings.

Every year the trainer of Panther Securities uses his annual formula to pass (normally pointed) criticism on the opening of the Government, internal councils and alternative open figures, as well as revelation shareholders how their investments are going.

You"ll have to wait for a couple of weeks prior to celebration of the mass the subsequent instalment, but I assimilate the aim could well be American Express.

Not to put as well excellent a point on it I assimilate Perloff is about to discuss it Amex to swamp off after reception a matter for annual costs on his black label of �1,800.

Amex tripled the annual price for the Centurion label from �650 to �1,800 last year, definition business are only starting to see the charges crop up on their statements.

Why the new charges I ask Amex? "We are handling in severe mercantile times," pronounced the Amex spinner cheerfully, "and people are seeking for worth from their cards."

"That"s a really great explanation," responds Perloff, "but with this label the expect conflicting of the truth."

No disbelief we will attend to some-more come Panther"s results.

jonathan.russell@telegraph.co.uk