Browse content similar to 28/01/2012. Check below for episodes and series from the same categories and more!
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The chairman of the Royal Bank of Scotland gives up his �1.4 million | :00:15. | :00:18. | |
bonus. Sir Philip Hampton's decision places new pressure on the | :00:18. | :00:24. | |
company's chief executive, Stephen Hester to follow suit. | :00:24. | :00:28. | |
Four Sun journalists and a serving police officer are arrested over | :00:28. | :00:31. | |
allegations of illegal payments to the police. | :00:31. | :00:36. | |
COMMENTATOR: Kuyt! A shock for Manchester United as Liverpool | :00:36. | :00:42. | |
knock them out of the FA Cup. COMMENTATOR: It is getting | :00:42. | :00:48. | |
underneath that one. He has taken And a humiliating collapse for | :00:48. | :00:58. | |
:00:58. | :01:03. | ||
England as Pakistan bowl them out for 72 runs. | :01:03. | :01:07. | |
Good evening. The chairman of Royal Bank of | :01:07. | :01:11. | |
Scotland, Sir Philip Hampton, has given up a bonus amounting to �1.4 | :01:11. | :01:15. | |
million in shares which he was due to receive this year. The BBC has | :01:15. | :01:18. | |
been told that he decided it would not be appropriate to receive the | :01:18. | :01:22. | |
award and took the decision before the recent controversy over the | :01:22. | :01:27. | |
bonus of more than �900,000, awarded to the company's chief | :01:27. | :01:31. | |
executive, Hester he. Robert Peston, our Business Editor has this | :01:31. | :01:37. | |
exclusive report. The Royal Bank of Scotland, it's | :01:37. | :01:41. | |
been 24 hours here of different messages about rewards for bankers. | :01:41. | :01:44. | |
First, Stephen Hester, Royal Bank of Scotland' chief executive, was | :01:44. | :01:50. | |
awarded a bonus payable in shares of just over �963,000, sparking a | :01:50. | :01:55. | |
massive political row. Then today, the BBC has learned that Stephen | :01:55. | :01:57. | |
Hester's boss, Sir Philip Hampton, chairman of the Royal Bank of | :01:57. | :02:03. | |
Scotland, has asked the bank's remuneration Committee not to award | :02:03. | :02:07. | |
him Royal Bank of Scotland shares worth �1.4 million to which he is | :02:07. | :02:10. | |
entitled. What does the biggest share holder | :02:10. | :02:13. | |
in Royal Bank of Scotland, the Government, make of this contrast? | :02:13. | :02:16. | |
Does the Prime Minister think that Stephen Hester should follow Sir | :02:16. | :02:21. | |
Philip Hampton's example and now refuse his bonus or give it away? | :02:21. | :02:26. | |
That is obviously his decision. My decision is to ensure that the team | :02:26. | :02:29. | |
of Royal Bank of Scotland get on with the job of turning the bank | :02:29. | :02:33. | |
around. We made the views clear about the bonus. Which is why it | :02:33. | :02:37. | |
was cut in half compared to last year. | :02:37. | :02:42. | |
Sir Philip Hampton's decision to the to take the bonus is consistent | :02:42. | :02:48. | |
with views that the bankers are overpaid. In an interview he | :02:48. | :02:53. | |
explained that last year. This means that thousands of people | :02:53. | :02:58. | |
over bonuses are extraordinarily highly paid. The most peculiar | :02:58. | :03:02. | |
thing about it, looking at the last ten years of massive increase in | :03:02. | :03:07. | |
pay is that the performance for share holders has been disastrous, | :03:07. | :03:10. | |
really. George Osbourne reiterated today that Royal Bank of Scotland | :03:10. | :03:14. | |
had listened to his submissions that Stephen Hester's bonus should | :03:14. | :03:17. | |
be reduced from last year's �2 million. | :03:17. | :03:20. | |
Now we know that the chairman of Royal Bank of Scotland Think it is | :03:20. | :03:25. | |
is inappropriate to get a �1 million bonus. The only people left | :03:25. | :03:28. | |
to think it is appropriate are the Chancellor and the Prime Minister, | :03:28. | :03:32. | |
but they have a chance to listen to the public. They can block the | :03:32. | :03:35. | |
bonus at the share holder meeting in April. That is what they should | :03:35. | :03:40. | |
Ministers would love it if Stephen Hester was on the same pay as them, | :03:40. | :03:44. | |
but that was not the basis on which he took the job of rescuing Royal | :03:44. | :03:47. | |
Bank of Scotland three years ago and as the Prime Minister said | :03:47. | :03:52. | |
today, replacing him now could be much more expensive than paying his | :03:52. | :03:59. | |
�1 million bonus. Detectives investigating suspected payments to | :03:59. | :04:03. | |
police for information have arrested five people. Four of them | :04:03. | :04:07. | |
are understood to be journalists or former journalists of the Sun | :04:07. | :04:12. | |
newspaper. A serving police officer has been arrested too. | :04:12. | :04:20. | |
We have Tom Symonds me now. Tell us more about the arrests? They | :04:20. | :04:26. | |
happened this morning. The police went to two homes in Essex and to a | :04:26. | :04:31. | |
home in north London. Four journalists, either past or present | :04:31. | :04:37. | |
senior members at the Sun and a serving member of the Metropolitan | :04:37. | :04:43. | |
Police. They had been picked up as part of Operation Elveden looking | :04:43. | :04:47. | |
at corrupt payments to journalists on stories. | :04:48. | :04:52. | |
What is the significance of this now? These are senior people. The | :04:52. | :04:58. | |
police had arrested one person from the Sun. This is four. One of those | :04:58. | :05:04. | |
arrested, Chris Pharo is the head of news at the Sun. One is a editor | :05:04. | :05:08. | |
at the paper. It has had a big effect at News International. They | :05:08. | :05:12. | |
sent an e-mail to staff saying that this was very difficult news but | :05:12. | :05:16. | |
that they were confronting past mistakes, making changes to their | :05:16. | :05:20. | |
practises. Why say that? It seems that they gave the information as | :05:20. | :05:24. | |
part of an investigation internally to the police that led to today's | :05:24. | :05:28. | |
arrests. So in effect the company gave up its own skaf staff. Now | :05:28. | :05:32. | |
they are being questioned, there are no charges yet. There are no | :05:32. | :05:36. | |
suggestions of guilt. Bur there is one other fact that is interesting, | :05:36. | :05:41. | |
that is that some of piece people date back to the days of Rebekah | :05:41. | :05:45. | |
Brookes editing the Sun newspaper. She was once the chief executive of | :05:45. | :05:48. | |
News International. She resigned. So I think that this whole | :05:48. | :05:51. | |
operation has gotten a lot bigger today. | :05:51. | :05:57. | |
Tom, thank you. The rab league has said it is | :05:57. | :06:04. | |
suspending its on -- observation mission in Syria. They are to stop | :06:04. | :06:08. | |
its work for the time being. Opponents of President Bashar al- | :06:08. | :06:12. | |
Assad say about 150 people have been killed in the last three days. | :06:12. | :06:16. | |
Liverpool have knocked Manchester United out of the FA Cup, beating | :06:16. | :06:25. | |
them 2-1 at Anfield. The match was the first since Saurez was given an | :06:25. | :06:28. | |
eight-match ban for racial abuse against Patrice Evra. | :06:28. | :06:34. | |
John Terry made his first return to Loftus Road since being charged | :06:34. | :06:38. | |
with racially abusing Rangers Anton Ferdinand. He was not playing, but | :06:38. | :06:46. | |
he was impossible to ignore. Scarfs, shirts, you could even by a Suar | :06:46. | :06:52. | |
efrbgs z mask, a reminder of what happened last time. He was | :06:52. | :06:59. | |
suspended but looked on as the opponent he was accused of abusing, | :06:59. | :07:05. | |
Patrice Evra returned. There were a plead for passion, rather than | :07:05. | :07:12. | |
poison, but the touch of Patrice Evra, was roundly booed. The match | :07:12. | :07:18. | |
was grier, prompting jubilation in the stands. United responded in | :07:18. | :07:26. | |
style, with Parks in a great style and finish. With three minutes left, | :07:26. | :07:29. | |
Kuyt struck and Liverpool were through. | :07:29. | :07:32. | |
Contrasting emotions at Liverpool fans celebrated for them, the | :07:32. | :07:37. | |
sweetest of wins. But for all of the drama, this | :07:37. | :07:41. | |
fixture has been a headache for the authorities it was not the only one | :07:41. | :07:46. | |
on a day when the conduct of fans and players came under the sternest | :07:46. | :07:50. | |
scrutiny. At Queens Park Rangers there was | :07:50. | :07:53. | |
tightened security as Chelsea returned for the first time since | :07:53. | :07:57. | |
their captain John Terry was charged with racially abusing Anton | :07:57. | :08:03. | |
Ferdinand. Both played, and the FA agreed to scrap the usual pre-match | :08:03. | :08:08. | |
hand-shakes to diffuse the tension. The game seemed overshadowed, a | :08:08. | :08:14. | |
penalty for Chelsea and that was pretty much it. During and after | :08:14. | :08:21. | |
the match, John Terry was booed by QPR fans an uncomfortable end to | :08:21. | :08:24. | |
what for football has been an uncomfortable day. | :08:24. | :08:30. | |
Pakistan have beaten England in the second test in Abu Dhabi. It gives | :08:30. | :08:35. | |
them an unassailable 2-0 win lead in the series. | :08:35. | :08:40. | |
Here is Joe Wilson. In truth, there was little mystery | :08:40. | :08:45. | |
to the victory. Pakistan knew how to embarrass England, spin. | :08:45. | :08:55. | |
They got rid of Cook, but Ian Bell seemed bemused by the tackle. | :08:55. | :09:02. | |
There was there from Ajmal. Kevin Pietersen lasted eight balls. LBW | :09:02. | :09:09. | |
to Raymond's left arm spin. Now there was panic. Morgan was | :09:09. | :09:15. | |
powerless. England 37-4. The victory target may have been 1,000, | :09:15. | :09:20. | |
when Andrew Strauss fell for 32.Erson was last out. All of the | :09:20. | :09:24. | |
significance was in the celebrations. Pakistan had just | :09:24. | :09:29. | |
humbled the world's best team again. Well, tentative, fearful, all of | :09:29. | :09:34. |