Nat West chief executive’s £6.6m pay package for 2025 is largest since disgraced predecessor’s £7.7m in 2006

• Business live – latest updates

A trio of bank bosses have been handed huge pay packets in the latest sign that the vast salaries and bonuses handed to Wall Street and City of London executives in the run-up to the 2008 financial crisis have started to return.

NatWest on Friday revealed a £6.6m pay package for its boss, Paul Thwaite, marking the largest payout for a chief executive of the banking group since his disgraced predecessor Fred Goodwin took home £7.7m in 2006.

Continue reading...

© Photograph: Ben Tritton

© Photograph: Ben Tritton

© Photograph: Ben Tritton

Microsoft is warning of a scam involving online payroll systems. Criminals use social engineering to steal people’s credentials, and then divert direct deposits into accounts that they control. Sometimes they do other things to make it harder for the victim to realize what is happening.

I feel like this kind of thing is happening everywhere, with everything. As we move more of our personal and professional lives online, we enable criminals to subvert the very systems we rely on.

In this sense, the post-1990 monetary-policy regime contributed to global stability by ensuring that central banks remained focused on putting their own house in order. But can the cooperative model of global monetary policy survive in an age of geopolitical fragmentation? Will central banks remain independent and maintain their commitment to price stability above all? The answers will depend on the frameworks adopted to govern the interplay between fiscal and monetary policy in an increasingly conflictual world. from The Twilight of Bretton Woods by Giancarlo Corsetti [Project Syndicate; ungated]