Barclays PLCNYSE
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  • Mon, Sep. 5, 10:29 AM
    • Barclays (NYSE:BCS) has hired JPMorgan (NYSE:JPM) banker Tim Throsby to head its Corporate and International division, ending a six-month search for the number two job under CEO Jes Staley.
    • He'll also run Barclays' investment banking business within that division, filling the gap left by the departure of Tom King, who retired from the bank in March.
    • Subject to regulatory approvals, Throsby is expected to take up his new role in January.
    | Mon, Sep. 5, 10:29 AM | 9 Comments
  • Fri, Aug. 26, 7:40 AM
    • Expected in the coming weeks are announcements for the sale of the bank's Italian retail business, its Iberian credit cards operation, and its Egyptian franchise, reports the WSJ.
    • The moves are all part of a plan to pare down Barclays' (NYSE:BCS) sprawling business, with CEO Jes Staley having pledged to exit £35B of unwanted assets by the end of next year.
    • The lender's ROE was just 4.8% in H1, but Staley and team figure this can hit double digits after the assets are unloaded.
    • Many of these sales are likely to force Barclays to book a loss, but this should be more than offset by the freeing up of capital.
    | Fri, Aug. 26, 7:40 AM | 4 Comments
  • Mon, Aug. 8, 1:13 PM
    • Barclays (BCS +2.7%) agrees to a $100M settlement to end investigations by 43 states and D.C. into its alleged manipulation of LIBOR rates in the mid-2000s.
    • The settlement comes four years after BCS resolved similar charges with U.S. and U.K. authorities; the state attorneys general, led by New York and Connecticut, launched their own probes in 2012 in the wake of those charges.
    • BCS is the first of several global banks to resolve LIBOR manipulation allegations from state attorneys general that already have paid billions of dollars in penalties to resolve similar criminal and civil charges.
    | Mon, Aug. 8, 1:13 PM | 1 Comment
  • Mon, Aug. 1, 8:34 AM
    • Shares of RBS (NYSE:RBS) are lower in early trading after the bank showed some signs of weakness in stress tests of European banks.
    • Though RBS passed the test by the European Banking Authority, the fall of its capital ratio to 8% is in the spotlight.
    • Barclays (NYSE:BCS) showed similar weakness, with an unexpected drop in its capital ratio to 7.3% under the stress test scenario.
    • Italy’s Banca Monte dei Paschi di Siena was the only bank to be wiped out in the healthiness check.
    • Full European bank stress test results (.pdf)
    • RBS -1.76% premarket to $5.01.
    | Mon, Aug. 1, 8:34 AM
  • Fri, Jul. 29, 9:22 AM
    | Fri, Jul. 29, 9:22 AM
  • Fri, Jul. 29, 8:16 AM
    • Barclays (NYSE:BCS): 1H16 EPS of £0.01
    • Revenue of £11.01B (-9.1% Y/Y)
    • Shares +7.9% PM.
    • Press Release
    | Fri, Jul. 29, 8:16 AM | 13 Comments
  • Thu, Jul. 21, 5:34 PM
    • Top gainers, as of 5.25 p.m.: PFPT +12.2%. BCS +3.7%. AMID +3.1%. RNET +3.0%. EGHT +2.8%.
    • Top losers, as of 5.25p.m.: SKX -14.4%. ATHN -12.1%. P -6.7%. FLEX -5.6%. SWKS -4.8%.
    | Thu, Jul. 21, 5:34 PM | 2 Comments
  • Tue, Jul. 12, 9:24 AM
    | Tue, Jul. 12, 9:24 AM
  • Fri, Jul. 8, 9:15 AM
    | Fri, Jul. 8, 9:15 AM
  • Wed, Jul. 6, 11:10 AM
    • Cashing out of stocks in one thing, but unloading that office building or shopping mall by the close of business is a different story. Henderson Global Investors suspends dealings in its £3.9B U.K. property fund, becoming the fourth such outfit to do so this week.
    • The FTSE 100 (NYSEARCA:EWU) is lower by 1.45% ahead of the close, outperforming Europe once again, where most major markets are down 2% or more.
    • That's in nominal terms, of course. The British pound (NYSEARCA:FXB) has taken out new three-plus decade lows, now down 1% vs. the dollar at $1.2892.
    • Faring worst in the U.K. are the banks. RBS (RBS -7.7%), Lloyds (LYG -8.9%), Barclays (BCS -3.6%), HSBC (HSBC -1%).
    | Wed, Jul. 6, 11:10 AM | 13 Comments
  • Tue, Jul. 5, 6:21 AM
    • The Bank of England has taken steps to shore up the U.K. economy following Britons' decision to exit the EU, warning that the outlook for the stability of the financial system has become "challenging."
    • The decision to reduce the so-called countercyclical capital buffer to zero will allow British banks to lend an extra £150B to U.K. businesses and households, keeping the economy flush with credit.
    | Tue, Jul. 5, 6:21 AM | 18 Comments
  • Mon, Jul. 4, 10:01 AM
    • Three former Barclays (NYSE:BCS) traders have been found guilty of Libor manipulation almost four years since the bank paid out hundreds of millions of dollars in fines for fixing the key benchmark rate.
    • Days after the British firm became the first to settle, its Chief Executive Officer, Bob Diamond, lost his job and regulators eventually imposed roughly $9B in penalties on the financial industry.
    | Mon, Jul. 4, 10:01 AM | 6 Comments
  • Sun, Jul. 3, 3:27 PM
    • Bidders have been notified that Bank of America (NYSE:BAC) may call off its planned sale of £7B UK credit-card operations unit MBNA following the country's Brexit vote, sources say.
    • Some private equity bidders were said to be having difficulty raising funds after U.K. residents voted in favor of leaving the EU.
    • The price bidders were prepared to pay for the credit-card unit declined by as much as a third following the Brexit vote.
    • Possible bidders include Lloyds (NYSE:LYG), Barclays (NYSE:BCS) and Santander UK (NYSE:SAN).
    | Sun, Jul. 3, 3:27 PM | 41 Comments
  • Thu, Jun. 30, 11:00 AM
    • The bank is "staying anchored" in the U.K., says CEO Jes Staley in a BBC interview, and has no plans to pick up and move people to other locations.
    • He adds that Barclays (BCS -2.1%) does want to "stay connected to European capital markets," which may cause need for hiring outside of the U.K., but this doesn't mean job cuts in the U.K.
    • Previously: HSBC staying put in London (June 30)
    | Thu, Jun. 30, 11:00 AM | 6 Comments
  • Wed, Jun. 29, 11:02 AM
    • In the first are what are expected to be a series of mandatory "fireside chats," the heads of the five major U.K. banks, along with some smaller lenders, came into the Bank of England yesterday.
    • Source: FT
    • At the meeting - chaired by a senior central bank official and including an appearance by Governor Mark Carney - the bankers were given a supportive message about the amount of liquidity in the system, and "encouraged" to keep the lending spigots open (as opposed to the credit crunch that followed Lehman Brothers).
    • Those present included the CEOs of HSBC, BCS, LYG, RBC and OTCPK:SCBFF.
    | Wed, Jun. 29, 11:02 AM | 4 Comments
  • Wed, Jun. 29, 4:14 AM
    • Moody's has cut its outlook on the British banking system from stable to negative following the Brexit referendum.
    • "We expect lower economic growth and heightened uncertainty over the U.K.'s future trade relationship with the EU to lead to reduced demand for credit, higher credit losses and more volatile wholesale funding conditions," the agency declared.
    • On the other side of the fence, ECB Vice President Vitor Constancio said banks were oversold in the wake of Brexit and it wasn't a "Lehman moment."
    | Wed, Jun. 29, 4:14 AM | 5 Comments