Lunchtime Links: The government is now expected to extend The Tax until June
Today was the day when the government was due to publish a clarification of precisely who will, and who won't, be included in the Bonus Tax. According to Financial News, this isn't happening after all. Publication has been delayed until tomorrow (while the government tries to work out precisely what it was intending).
The good news is that Robert Peston seems to think that Tullett and the others who are protesting about their inclusion in The Tax might be spared, on the grounds that Persons In The Treasury told him only banks would be liable for it.
Ominously, however, The Times is running a story today saying that the government now intends to extend the duration of the tax until June so that it covers bonuses at Rothschild, which aren't generally paid out until then. Financial News claims that failure to lumber Rothschild with The Tax could lead to accusations of favouritism on the grounds that its bankers have worked for Messrs Darling and Brown in the recent past.
FATCATS FLEE TO SAVE BONUSES. (The Mirror)
"The banks don't seem to realise this tax is about changing their behaviour, not raising revenue." (Financial Times)
Lloyds is preparing to pay its bonus pool in full; RBS isn't. (New York Post)
Bob Diamond tells BarCap bankers not to fret, for they will be paid competitively.
(CityAm)
Greece is taxing (private) banker bonuses by up to 90%. (Alphaville)
Goldman's being sued for blindly" rewarding executives "for corporate performance that has absolutely nothing to do with the skill of the company's employees." (Reuters)
10 people at AIG are being paid $168m less than prior years, and are struggling financially. (WallStreetJournal)
Robert Kelly doesn't want to be chief exec of BofA either. (Financial Times)
Hedge funds want to hire investor relations and marketing staff. (BarclaysCapital)
All of Europe's hedge funds could move to Switzerland. (BusinessInsider)
You're happier if paid by the hour. (MedicalNewsToday)
How adults get happy. (BusinessWeek)