U.K. banks and government agree to a deal on lending and bonuses

             

U.K. Chancellor George Osborne reached an agreement with HSBC Holdings, Barclays and other major British banks regarding bonuses, lending and taxes. "Britain needs to move from retribution to recovery," Osborne said. "The banks will lend more money, especially to small businesses, pay more taxes and pay smaller bonuses, be more transparent about bonuses they do pay and make a greater contribution to our regional economy." Critics were quick to scrutinize the plan, saying it requires banks to do little beyond what they already do. Full story here