Barclays shareholders have voted to approve the bank's remuneration package, which includes higher bonuses despite a 30% fall in profits. Some 34% of shareholders failed to back the report, Standard Life Investments, a key institutional shareholder, voted against the package. The BBC's chief economics correspondent Hugh Pym said "there was a significant minority against the remuneration report".


'Active approach'

The vote came against a backdrop of political and public opposition. Barclays said 24% of shareholders who voted opposed its remuneration report. When withheld votes were added, the proportion of shareholders failing to back the plan was 34%. After the decision the Institute of Directors (IoD) said that "Barclay's decision to increase its bonus pool by more than 10% in a year when profits fell by a third, and when bonuses continue to dwarf dividend payouts to shareholders by a factor of three to one, was always going to be a tough sell".......Read more here