UK’s Cable urges Barclays to limit Diamond pay-off

(Reuters) – Barclays directors should limit any pay-off for the bank’s former chief executive Bob Diamond and prevent another “outrage”, British Business Secretary Vince Cable said on Sunday, conceding that the government cannot block the payments.

Diamond resigned last week amid public anger after Barclays agreed to pay nearly 450 million pounds ($697.8 million) in fines for manipulating a key interest rate.

Newspapers have reported that Diamond could be in line for exit payments of as much as 17 million pounds.

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