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Daily Digit: Banks Slash Cash Bonuses
30% is today's daily digit in Europe - the amount bank bonuses are expected to fall by in 2013. The drop is being linked to huge fines being paid by a number of Europe's biggest banks for various financial scandals. Swiss bank UBS was one of the worst hit - it was fined $1.5 billion for fraud and bribery relating to Libor regulation. That was also a problem for Barclays - which will pay 450 million dollars. David Buik is markets strategist at Cantor Index.
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