London is now the worst place in the world to do business, say top bankers

[AtW]

Are you saying someone should not refer to their remuneration as part of doing business?

Employees don't do business - bank in which they work does however.

[Doggy Styles]

Employees don't do business - bank in which they work does however.

That's clearly wrong.

[BrilloPad]

The continuing storm over City bonuses is damaging Britain's reputation as a place to do business, a group of leading international bankers has warned.

What a load of tulip - "doing good business" and "earning a lot of money" are NOT the same things.

Frankly if it's easy to do good business then salaries paid to people who do that job should not be too high since it's supposedly easy.

I care alot about what taxpayer owned british banks pay. But as for foreign banks - I would rather they are in London than elsewhere.

[AtW]

I care alot about what taxpayer owned british banks pay. But as for foreign banks - I would rather they are in London than elsewhere.

It's not about taxpayer owned, it's about shareholders (which is taxpayer in some cases) asserting their rights as owners to prent staff awarding themselves massive pay and bonuses for normal job done or when they don't do good job in the first place (like when losing money).

[BrilloPad]

It's not about taxpayer owned, it's about shareholders (which is taxpayer in some cases) asserting their rights as owners to prent staff awarding themselves massive pay and bonuses for normal job done or when they don't do good job in the first place (like when losing money).

So would you like JP Morgan, Goldmans, Morgan Stanley etcetc to move away from LOndon?

[AtW]

So would you like JP Morgan, Goldmans, Morgan Stanley etcetc to move away from LOndon?

It has nothing to do with London, but everything with shareholders - owners of said businesses making sure that people who were hired to run those businesses act in the best interest of shareholders such as but not limited to getting very high labour costs under control.

The only other "business" that I can think of that has got this patter are football clubs but that they can be viewed as expensive hobby.

[BrilloPad]

It has nothing to do with London, but everything with shareholders - owners of said businesses making sure that people who were hired to run those businesses act in the best interest of shareholders such as but not limited to getting very high labour costs under control.

The only other "business" that I can think of that has got this patter are football clubs but that they can be viewed as expensive hobby.

In the cases I mention the shareholders are almost entirely American. They are going to do business - whether it is in UK or elsewhere. Personally I would rather it was the UK.

For UK businesses it is very different.

[AtW]

In the cases I mention the shareholders are almost entirely American. They are going to do business - whether it is in UK or elsewhere.

But why would they move out of London if costs of bankers employed in UK gets reduced? They are here for a reason and having lower labour costs only would keep them here for longer.

Now the other question is whether all those UK bankers move out to US and other places to get higher salaries, my guess is that probably not.

[DodgyAgent]

But why would they move out of London if costs of bankers employed in UK gets reduced? They are here for a reason and having lower labour costs only would keep them here for longer.

Now the other question is whether all those UK bankers move out to US and other places to get higher salaries, my guess is that probably not.

What is wrong with bankers being paid huge bonuses?

[AtW]

What is wrong with bankers being paid huge bonuses?

It can be wrong is large bonuses paid for normal course of work - if they can't keep bank profitable they should lose jobs, essentially getting a big bonus as part of turning up for work is taking money from shareholders pockets.