Reuters - 1 hour 56 minutes agoLONDON (Reuters) - Chancellor George Osborne said he supported steps by the state-owned Royal Bank of Scotland to cut bonus payouts for its staff in its investment banking arm, and praised managers for helping to turn round the bank's fortunes. RBS, 82 percent owned by the government after a state bailout during the 2008 credit crisis, reported a fourth-quarter loss of 1.8 billion pounds, but said it paid out bonuses of almost 1 billion pounds in 2011. However bonuses to its GBM investment bankers were down 58 percent from 2010 to 390 million pounds. ... More »Osborne welcomes cut in RBS bonuses