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Lloyds boss in line for £2m bonus

Eric DanielsMr Daniels is stepping down as Lloyds boss in March

Lloyds Banking Group boss Eric Daniels is in line for a bonus of about £2m this year, the BBC has learned.

Mr Daniels, who steps down in March, has turned down a bonus in the past two years but will not do so again, sources told BBC business editor Robert Peston.

The government bailed out Lloyds after it took over HBOS in 2008, and still holds a 41% stake in the bank.

On Tuesday, Barclays boss Bob Diamond said he had not decided whether he would accept a bonus this year.

This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.

Flooding peak looms for Brisbane

People towing a boat with a dighy through flood water

Nick Bryant: “What we’re seeing is a community coming out in force to salvage what they can”

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The Australian city of Brisbane is preparing for the worst of its devastating floods, with water levels set to peak over the next few hours.

The peak is now expected to reach 5.2m (17ft) at 0400 local time on Thursday (1800GMT Wednesday), down from the 5.4m of the devastating 1974 floods.

But Queensland’s premier warned many would wake “to scenes many have never seen anything like in their lives”.

The death toll in Queensland is 12 so far, with dozens reported missing.

Prime Minister Julia Gillard called the disaster’s scale “mind-boggling”.

Queensland’s Premier Anna Bligh said: “We are now in the grip of a very serious natural disaster.

At the scene

The owners of shops and cafes in one of the lower-lying communities in Brisbane have been putting sandbags out throughout the day, but the waters have risen above them and are wrecking their properties.

The only way to get around these communities at the moment, as the police are doing, is in metal boats – tinnies, as they’re called locally. We’ve seen a lot of them across Queensland recently.

There are still dozens of people missing, not in Brisbane but further inland. Toowoomba saw such extraordinary scenes on Monday afternoon, when flash flooding ripped through – cars were overturned, just swept through – all the more remarkable because Toowomba doesn’t have a river. That’s why state premier Anna Bligh called it a freak of nature.

Dozens of people are still feared missing – whole families in some instances. The search operation is still ongoing.

“We are now seeing thousands of homes inundated with water up to the roof. Many, many more are expected to see significant water damage.”

She said 20,000 to 30,000 people would be affected in Brisbane.

Although the flood peak could be below the 1974 level, Ms Bligh said: “This is still a major event, the city is much bigger, much more populated and has many parts under flood that didn’t even exist in 1974.

“We are still looking at an event which will cripple parts of our city.”

Many supermarkets have been stripped of supplies, while a number of rubbish collections and bus services have halted.

During the day on Wednesday, the central business district escaped serious flooding, with the slightly lower level of water than forecast.

However, boats and pontoons still floated down the roaring Brisbane river, along with massive amounts of debris.

Brisbane Lord Mayor Campbell Newman said he had “a sense of horror and awe about the power of the river”.

“At the moment we are seeing pontoons and people’s boats… sadly in the coming hours we might be seeing bits of people’s houses… and that breaks my heart.”

The central district is still in danger – the flood’s peak early on Thursday will coincide with a high sea tide.

The city’s South Brisbane and West End districts have already been badly hit, the Brisbane Courier Mail reported. In all, more than 50 suburbs and 2,100 roads could be left under water.

More than 100,000 properties have had their power cut as a precaution against flooding of electricity substations.

Much of central Brisbane is a ghost town

A boat swept down the swollen Brisbane river sinks after hitting a bridge

Leisa Bourne of Red Cross Queensland told the BBC the city’s residents had been orderly in preparing their evacuation plans during the day on Wednesday but she expected an influx of people to evacuation centres when the flood hit its peak.

West of Brisbane in the city of Ipswich, the Bremer river peaked at around 20m on Wednesday.

About 1,000 homes were inundated and 7,500 more affected, the Queensland Times reported. More than 1,000 people are in evacuation centres there.

Ipswich Mayor Paul Pisasale said he expected flood levels to drop within the next 36 hours, allowing the clean-up to begin afterwards.

“If I find anybody looting in our city, they will be used as flood markers,” he warned.

One man found dead in his car in Ipswich has not yet been included in the death toll of 12.

Graph

Ms Bligh said: “There are some parts of Brisbane and Ipswich which are already completely unrecognisable.”

Water levels are expected to stay high in Brisbane until Saturday.

However Ms Bligh vowed the state would get back on its feet swiftly.

“We believe we can recover very quickly. That is our intention,” she said.

Ms Gillard urged Australians to look out for their neighbours.

“If there’s someone in your street you’re worried about, maybe an older Australian that you haven’t seen for a while, maybe give them a knock on the door and make sure they’re okay.”

The worst affected area was the town of Toowoomba, west of Brisbane, where residents described an “instant inland tsunami” of 8m ripping through the streets on Monday.

One good piece of news on Wednesday was that the number of missing in the Lockyer Valley had been revised down from 51 to 43, but there were grave fears for nine.

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This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.