The EU says cash bonuses for bankers should be capped at 30 per cent of the total bonus, significantly tougher than the FSA's regime for British banks, which set the cap at 40 per cent for the most highly paid and 60 per cent for other senior staff, writes the Times.Top BP executives including Tony Hayward could be thrust into a lion's den following a decision by the presidential commission investigating the Gulf of Mexico oil spill to hold hearings in affected states, says the FT.BP's shares soared yesterday on renewed talk that it could be taken over, despite warnings from officials that the oil giant is still weeks away from plugging its Gulf of Mexico leak, writes the Telegraph.Tate & Lyle is to sell its sugar business to America so that it can concentrate on other products, the company is expected to announce today, writes the TimesBSkyB is to announce a rise of 11-26% in the wholesale and retail cost of its sports channels, pre-empting BT's announcement of its prices for a version of the same product, says the FT.Lloyds Banking Group is planning to cut 650 jobs from its insurance business and close its Halifax-branded agencies, leading to the loss of a further 1,200 positions, write the Independent.Shares in the specialist financial consolidation group, Resolution, have risen as much as 13% after it released the prospectus for its £2.75bn takeover of Axa's UK life assurance businesses, reports the FT.Kingfisher, the owner of the DIY chain B&Q, has anointed Euan Sutherland as a potential successor to its chief executive, Ian Cheshire, as part of a wider reshuffle of its top team's responsibilities, says the Independent.Talks between the Australian government and the world's largest mining companies will continue into the next few days after both sides failed to reach an agreement on a proposed 40pc tax on miners' profits, says the Telegraph.The enormous mortgage bets that led to the collapse of the US insurance giant American International Group (AIG) were in fact solid investments that would not have lost a penny in the long run, the former head of AIG's derivatives business Joseph Cassano told a sceptical commission investigating the credit crisis yesterday, according to the Independent.A senior policymaker at the Bank of England, Adam Posen, has indicated that persistent increases in inflation and inflationary expectations in Britain does not mean that interest rates will rise earlier than expected, writes the Independent.
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