Bank bonuses fall to ‘1998 level’
BANK bonuses are set to fall to levels last seen 15 years ago as City rewards start “coming back into the real world”, it was claimed today. The amount paid out in bonuses fell to £4.4 billion in 2011/12, less than half the peak of £11.6 billion before the financial crisis and the lowest for eight years, according to economics consultancy Cebr. And it forecast a further 48% fall to £2.3 billion in the current year, putting pay-outs back to levels last seen in 1998. The reduction reflects the collapse in City activity and the sharp fall in financial jobs, which now means that bonuses are “the exception, not the rule”. * KELLY OSBOURNE has said she will never feel American, despite growing up in the US. The 27-year-old daughter of OZZY and SHARON OSBOURNE was born in London but grew up living in family homes in both the UK and the US, and going to school in America. Kelly revealed at Brit Week in Los Angeles: “I don’t think I will ever feel American.