Daily Dispatches: Too much cash is bad for bankers in China

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Sitting on too much underused cash, some bank managers in China are alleged to have provided loans at rates well below the prevailing cost of money in the open market in return for kickbacks. (Financial Times)

Goldman Sachs in UK bonus backtrack. (Guardian)

All change at UBS credit sales. (Finance Asia)

Hong Kong Exchanges and Clearing said income from businesses other than equity trading will rise to 50 percent in the next three years. ( The Standard)

Aussie banks cuddle up to China UnionPay. (Sydney Morning Herald)

The best ever cover letter. (Business Insider)