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Barclays PLC (BCS)

  • Aug. 30, 2012, 2:55 AM
    The U.K.'s Serious Fraud Office has launched a 2nd criminal investigation into Barclays (BCS), this time into payments made under agreements between the bank and Qatar Holding during its Middle East capital raising in 2008.
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  • Aug. 27, 2012, 3:07 AM
    The lawsuits against banks over their alleged manipulation of the Libor and other rates are accumulating, with Charles Schwab (SCHW), cities, insurers,lenders and individual investors assessing or activating their legal options. BlackRock (BLK), Federated Investors (FII) and Calpers are among those calculating whether they lost money. Estimates for banks' liabilities range from $7.8B-$176B.
  • Aug. 22, 2012, 10:45 AM
    Up next on the scandal agenda for U.K. banks are swap products marketed aggressively to average-Joe borrowers from 2005-08. Rate swaps were designed to protect against rising rates. Trouble is, rates plummeted, forcing heavy charges onto the clients who signed up. Thus far, the banks have provisioned only small sums for possible legal remedies.
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  • Aug. 20, 2012, 7:56 AM
    Anthony Jenkins - the head of Barclays' (BCS) retail operation - emerges as the leading candidate to become the bank's next CEO, reports The Telegraph. The paper previously reported RBS chief Stephen Hester as having the inside track, but the board is concerned his selection doesn't "signal the right politics."
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  • Aug. 19, 2012, 3:40 AM
    Not many of those involved in the Barclays (BCS) Libor scandal come out well in a U.K. parliamentary report that was released yesterday. Barclays is slammed for its "deeply flawed" culture, Bob Diamond for his unforthcoming and selective testimony to a parliamentary panel, BOE Governor Mervyn King for forcing Diamond to quit, and the FSA regulator for being behind the curve.
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  • Aug. 17, 2012, 3:38 AM
    With cybercrime costing the finance sector an estimated $2.5B last year, firms are buying new Internet domain suffixes as part of their attempts to prevent scammers deceiving customers into giving them their confidential details with bogus Web sites that look authentic. The new suffixes include dot-citi (C), dot-bofa (BAC) and dot-barclays (BCS), with COF, JPM and American Express (AXP) also buying addresses.
  • Aug. 15, 2012, 2:45 PM
    JPMorgan (JPM) and Barclays (BCS) are among at least 7 banks receiving subpoenas regarding New York and Connecticut's investigation into manipulation of Libor, reports Bloomberg.
  • Aug. 14, 2012, 10:13 AM
    Breakup chatter surrounding Barclays (BCS) heats up with the bank trading at a 59% discount to book, cheaper than 93% of its global peers. New Chairman David Walker has indicated his belief Barclays should remain a "universal bank," but Gareth Hunt says new management and the Libor scandal could lead to a breakup and a double in the stock price.
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  • Aug. 13, 2012, 7:26 AM
    RBS CEO Stephen Hester is getting the backing of some major Barclays (BCS) shareholders for the top job there, reports The Telegraph. Hester is seen having done a good job at RBS, cutting non-core assets, reducing bad debts, and maybe most importantly, having a good relationship with regulators (the bank is over 80% state-owned).
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  • Aug. 12, 2012, 2:46 AM
    International banks are worried that they could find themselves the target of New York investigations over transactions that the federal authorities said were legal but that the State's banking regulator could deem illegal, the NYT reports. The concern among the banks, which include Lloyds (LYG), Barclays (BCS), ING and HSBC (HBC), follow NY's accusations against StanChart overs its dealings with Iran.
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  • Aug. 10, 2012, 6:10 AM
    Barclays (BCS) has appointed former Bank of England Executive Director David Walker as Chairman to replace Marcus Agius, who is leaving in the wake of the Libor scandal. Walker's first job will be to find a CEO to replace Bob Diamond, who also resigned because of Libor. Shares +2.85% premarket. (PR)
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  • Aug. 9, 2012, 5:08 AM
    U.S. prosecutors offer immunity from criminal charges to several foremer lower-level staff at UBS in return for their help in the Libor investigation, the WSJ reports. Generally, though, while UBS, Barclays (BCS) and Deutsche Bank (DB) have made deals to co-operate with authorities, these agreements offer no protection to the staff involved.
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  • Aug. 6, 2012, 4:37 AM
    Seeking to revive its tarnished reputation, Barclays (BCS) is formulating an overhaul of its bonus plans, The Telegraph reports, with one proposal being to award them in shares but not grant them until an employees leaves the bank. HSBC is already using the program. Barclays is also considering a scheme to claw back bonuses if targets are missed.
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  • Aug. 3, 2012, 9:15 AM
    Premarket gainers: OPEN +19%. MELI +17%. SKUL +13%. LNKD +11%. ATPG +11%. VHC +10%. KOG +10%. KCG +10%. STEM +8%. SQNM +8%. DB +7%. ING +7%. WFR +7%. E +6%. SI +5%. MT +5%. ATAX +5%. BCS +5%.
    Losers: ZIP -35%. HNT -24%. BODY -18%. MCP -15%. XIDE -13%. REE -8%. GLUU -7%. ONNN -7%.
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  • Jul. 29, 2012, 3:10 AM
    Groups of traders from RBS and UBS, as well as those from Barclays (BCS), allegedly played key roles in the rigging of Libor and other global benchmark rates, Reuters reports, citing sources and court documents. Traders from JPMorgan (JPM) and Deutsche Bank are also under scrutiny. Some of those being investigated still hold senior roles at trading desks.
  • Jul. 27, 2012, 9:12 AM
    Premarket gainers: AUTH +60%. OCZ +29%. MNI +19%. STEM +18%. SIMO +17%. ACI +14%. EXPE +14%. KKR +10%. DECK +9%. BCS +7%. PWER +7%. JRCC +6%. ANR +5%.
    Losers: GDOT -57%. ATPG -32%. APKT -18%. NTGR -17%. FB -16%. CSTR -14%. SBUX -10%. HZNP -8%. LOGI -5%.
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Company Description
Barclays PLC is a financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management. It operates in Europe, the Americas, Africa and Asia.