cut

The change goes further than an original proposal last year, to cut bonus deferrals to five years for senior bankers.

Georgia formally cut diplomatic relations with Russia in the wake of their 2008 war, but has taken informal steps to improve ties in recent years -- a process that Georgia's opposition has heavily criticised.

"That was really the impetus... what it's like to be on stage at a comedy club. You know, we don't cut to the audience. We're just right on the person."

Federal Reserve Chair Jerome Powell signaled he sees more room for further interest rate cuts, citing downward pressure on the labor market.

The moves came after Federal Reserve Chair Jerome Powell signaled that labor-market weakness meant there was scope for the central bank to carry on cutting interest rates.