News Journal

Wall Street may reduce bonuses

Wall Street may announce to reduce bonus in the year because of economic slowdown and the financial companies like UBS AG announced that it will issue a reduced bonus as the bank was given a financial aid of $59.2 billion by the government.

Bank of America is under pressure to reduce payouts and newly elected President of America Barack Obama yesterday issued a statement saying that the amount handed over as bonuses by banks shows the height of irresponsibility.