Germany's top banker on trial over giant bonuses

Germany’s most powerful banker went on trial today accused of improperly approving large executive payments during a high-stakes takeover deal that has focused the nation’s attention on boardroom behaviour.

Deutsche Bank chief executive Josef Ackermann and five are charged with authorising bonuses and retirement packages totalling €55m to executives of German mobile phone company Mannesmann during its takeover by the British telecom giant Vodafone.