Thursday, 13 August 2020

Tag Archives: Barclays

Loan losses overshadow Barclays trading surge

LONDON: Barclays set aside a higher than expected £1.6 billion ($2.1 billion) to cover a possible rise in loan losses in the second quarter and warned that a grim outlook and low interest rates would hurt profits into 2021. The COVID-19 pandemic has forced banks globally to set aside billions to ...

Read More »

Barclays takes out insurance policy to meet target

LONDON: Lower revenue and higher costs led to a 15% first-half drop in underlying pre-tax profit. The bank’s UK division faces tough times and will be less likely to offset dour performances in trading. CEO Jes Staley is pledging more cost cuts to hit a 9% annual return target. CONTEXT ...

Read More »

Barclays sees two dissenters if Fed cuts rates next week

NEW YORK: Two Federal Reserves may express their dissent next week if the Federal Reserve decides to lower key US interest rates for the first time in a decade, which traders are betting it will do, Barclays US economists said. Kansas City Fed President Esther George and Boston Fed chief ...

Read More »

Barclays Bank charged over Qatar financial loan

Britain’s Serious Fraud Office charged a unit of Barclays yesterday over alleged fraud linked to emergency fundraising from Qatar during the financial crisis a decade ago, the bank said. The announcement follows a decision by the SFO in June last year to charge Barclays PLC, or the unit’s parent group, ...

Read More »

Barclays Shares Slump

LONDON:  Barclays PLC Thursday announced an increase in third-quarter net profit, helped by a fall in conduct and operating costs. The British bank said revenue in the quarter was down 5% to GBP5.17 billion ($6.9 billion) compared to a year ago, as bond trading revenues slumped. Net-profit rose to GBP583 ...

Read More »

Barclays: Dublin might become European HQ

LONDON: Barclays has admitted it “may add some people in Dublin” if its London base loses single market access post-Brexit. The confirmation comes one month on from a Bloomberg that the bank had started scouting the Irish capital for office space in early 2017 and had been in discussion with regulators ...

Read More »

Barclays: London will still be the ‘financial lungs’ of Europe

LONDON: The City of London will still be the ‘financial lungs’ of Europe after Brexit, Barclays chief executive Jes Staley has said. In separate remarks, the bank’s chairman John McFarlane also said the UK government supported a three year transition deal on the Brexit deal. The Barclays chiefs were both ...

Read More »

RBS, Barclays and other banks fined in Swiss franc Libor case

LONDON: Royal Bank of Scotland and Barclays are among banks hit with SFr99m (£78m) of fines by the Swiss competition regulator for operating four separate cartels, as the international fallout from the Libor rate-rigging scandal spreads. The two British lenders were hit with a combined £37m in fines, while HSBC, ...

Read More »

Barclays launches CONTACTLESS ATMs

LONDON: The ATMs have initially been piloted in the north of England before being rolled out to 600 machines across Britain by the end of January next year. Customers will be able to take out up to £100 at the in-branch cash machines, which is faster and more secure than ...

Read More »