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Barclays PLC (BCS)

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  • Nov. 26, 2012, 4:17 AM
    UBS (UBS) is due to ask an Appeals Court today to dismiss a lawsuit from the FHFA over losses on $6.4B in mortgage bonds sold to Fannie Mae and Freddie Mac. UBS argues that the claims expired in 2010 and so are time-barred by the statute of repose. The stakes are high not just for UBS but also for several other banks that the FHFA has sued for a similar reason, including JPM, Barclays (BCS) and GS.
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  • Nov. 26, 2012, 3:11 AM
    Qatar Holding plans to sell £771M of shares in Barclays (BCS) through the liquidation of its remaining warrants in the British bank. However, the fund, which said it remains a "supportive strategic investor," will continue to be Barclays' biggest shareholder, with its 6.7% stake staying unchanged. Meanwhile, Barclays has reportedly come under pressure from some of its biggest shareholders to follow UBS's example and offload its investment bank.
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  • Nov. 19, 2012, 5:55 PM
    A federal judge allows a FHFA lawsuit to go forward against Barclays (BCS) over the sale of $4.9B in questionable MBS to Fannie Mae and Freddie Mac. It's no surprise as the same judge has allowed similar suits to move ahead against 5 other banks.
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  • Nov. 19, 2012, 6:41 AM
    Barclays (BCS) is upgraded to Buy from Neutral at Goldman Sachs. Shares +4% in London.
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  • Nov. 18, 2012, 2:53 AM
    Barclays (BCS) has denied making an "illegal payment" to Saudi Arabia's Capital Markets Authority in order to win a license in the country to operate a wealth-management arm and investment bank. The refutation follows a report last week that U.S. authorities are investigating whether the bank made such payments.
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  • Nov. 13, 2012, 6:05 AM
    Twelve of Europe's biggest banks held a combined $1.43T in deposits at central banks as of September 30, up 84% since the end of 2010 but only 3% from three months earlier, the WSJ calculates. The growth reflects fears about the banks' stability and uncertainty about upcoming liquidity rules, although some did withdraw reserves in Q3, including Lloyds (LYG) and Barclays (BCS).
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  • Nov. 13, 2012, 4:36 AM
    China awarded foreign institutions a record $2.8B in quotas in October to invest in the country's stock and bond markets under the Qualified Foreign Institutional Investor (QFII) scheme, almost matching the amount for the entire Q3. Barclays (BCS) and JPMorgan (JPM) were among those that received the allocations. The increase in quotas comes as foreign-direct investment in China falls sharply.
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  • Nov. 11, 2012, 2:16 AM
    U.S. authorities are investigating Barclays (BCS) over whether it made improper payments in 2009 to obtain a license to operate a wealth-management arm and investment bank in Saudi Arabia, the FT reports. The probes adds to a number of other inquiries Barclays faces, including over payments made to Qatar in 2008 during a cash call and manipulation of U.S. power markets.
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  • Nov. 9, 2012, 10:31 AM
    Arrests by U.K. authorities of former traders at Barclays (BCS), RBS, and UBS in conjunction with the Libor issue are near, according to a source with knowledge of the investigation. The arrests don't necessarily mean charges will be filed, but instead allow prosecutors to more closely question those involved.
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  • Nov. 2, 2012, 5:32 AM
    Citigroup (C), Deutsche Bank (DB), HSBC (HBC) and JPMorgan (JPM) will have to hold an extra 2.5% of Tier 1 Capital on top of the 7% minimum required under Basel III rules, regulators said yesterday. Barclays (BCS) and BNP Paribas will need an extra 2%, while eight banks, including BofA (BAC) and Goldman Sachs (GS), will need 1.5%. Overall, 28 banks are considered "global systemically important" and have to hold extra capital. Lloyds (LYG) has dropped off the list but BBVA (BBVA) and StanChart have joined it.
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  • Nov. 1, 2012, 5:27 AM
    The Federal Energy Regulatory Commission (FERC) yesterday gave Barclays (BCS +1.25% in London) 30 days to show why it shouldn't be fined $470M for allegedly manipulating the Californian power markets by deliberately making losses on physical electricity prices in order to profit from related swaps positions. The strategy apparently used to be fairly common, and Barclays says it will fight FERC.
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  • Oct. 31, 2012, 10:50 AM
    You're next, says UBS Chairman Axel Weber to competitors angling for more business as UBS plans to axe 10K jobs from its investment banking unit (and eliminate fixed-income altogether). "I suspect that many banks have not yet really understood ... the consequences of the new capital rules." Among those eyeing a big meal who instead may end up on the menu: Barclays (BCS) and Deutsche Bank (DB).
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  • Oct. 31, 2012, 5:13 AM
    Phillips-Van Heusen (PVH) agrees to acquire Warnaco (WRC) for about $2.9B in cash and stock in a deal that "reunites the House of Calvin Klein." Based on PVH's last closing stock price, the deal is worth $68.43 a share, representing a 34% premium over Warnaco's close on Friday. PVH has also received commitments for $4.33B in financing from Barclays (BCS), BofA (BAC) and Citigroup (C), some of which PVH will use for the merger. (PR)
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  • Oct. 31, 2012, 4:38 AM
    More on Barclays (BCS) Q3: discloses two more investigations in the U.S.: the SEC and DOJ are looking at whether Barclays violated the Foreign Corrupt Practices Act. The bank implies without saying specifically that the probe is related to payments to Qatar investors who helped it avoid a taxpayer bailout. The Federal Energy Regulatory Commission is looking at Barclays over the possible manipulation of power prices in the from 2006-2008. Shares -3.9% in London. (PR)
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  • Oct. 31, 2012, 4:26 AM
    Barclays (BCS): Q3 adjusted pretax profit +29% £1.73B, in line; profit including £700M charge for mis-selling payment protection insurance -23% to £1.03B. Investment bank revenue +17% to £2.63B, underlying profit more than doubles to £937M. Retail adjusted pretax profit £794M vs £1.14B last year. (PR)
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  • Oct. 30, 2012, 9:19 AM
    Barclays (BCS +2.1% in London) yesterday became the first bank ordered to face a trial in the U.K. over the manipulation of Libor rates. Barclays is being sued for up to £37M by residential care home operator Guardian Care Homes over the alleged mis-selling of swaps. The trial could lead to new revelations and will be a test case for thousands of small companies that also believe they were mis-sold such instruments.
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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.