Lunchtime Links: There WILL be bonuses at UBS

Given its enthusiasm for taking a scythe to its staff, it was to be expected that UBS would opt for the 'your job is your bonus' method of compensation this year. In fact, it appears that the bank will be offering more than a mere seat in Bishopsgate as a reward. Despite recent losses, The Times reports that UBS has allocated 1.3bn to the bonus pot that will be dispersed next month. Unfortunately, it also looks like this will be spread between all the bank's 77,000 employees, and not just its investment bankers. And, of course, senior bankers may yet have their portion retracted under UBS's new malus scheme.

Merrill bankers received 70% of their bonuses in cash. (Financial Times)

Thain to walk away with $1.5m. (Investment News)

While Bank of America plans a single cocktail reception for opinion leaders in Davos, the Merrill team intended to show off in style. (Guardian)

Goldman quietly cancels Davos party. (Financial Times)

Another round of Goldman cuts rumoured for April. (Dealbreaker)

50% of staff leave London hedge fund entirely voluntarily. (Financial News)

Barclays surges 30%. (The Times)

Lenders such as Lloyds Banking Group and Royal Bank of Scotland (RBS) will need to demonstrate that their bonus policies are designed to reward long-term value creation by the banking industry. (Telegraph)

Want to be a banker? The Government is the only place to work. (Telegraph)

"Too many top bankers fail to realise they are grossly over-rewarded and have no sense of society." (The Times)

"Most of the bankers are competent and responsible, but there are also some beatniks, pyromaniacs and gangsters." (Financial Times)

It is likely that Thain's commode was an antique or an excellent antique reproduction to command such a price. (Wall Street Journal)

Daytime TV on the up as times get hard. (The Times)

Bankers no longer attractive to Estonian models. (Men Stylel)