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Bank charges: Barclays declares bonuses

Barclays has announced that it will be paying out almost £40 million in staff bonuses.

Rich Ricci, head of Barclays investment bank took away £17.6 million in shares.

Chief executive Antony Jenkins took away shares of £1.8 million, despite saying earlier this year that banker bonuses should be more restrained in future.

Staff cuts have been made at Barclays recently as part of plans to lower costs and boost profits.

News of bonuses at Barclays came on the same day that the Budget was announced, where people across the UK were distracted with news of how public money was going to be spent this year.

Included in the Budget was news of how the fines that had been taken off Barclays by the Financial Services Authority (FSA) were going to be used.

Chancellor George Osborne said that fines that the FSA had collected from banks would be spent on helping the armed forces.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801560208-ADNFCR

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