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Barclays PLC (BCS)

  • Oct. 19, 2012, 3:20 AM
    EU leaders agree to a deal that will give the ECB oversight of eurozone banks starting from next year, a critical step that will allow the ESM to begin recapitalizing troubled institutions and that will lead to the creation of banking union. The ECB will begin by supervising banks that received state aid and then large cross-border firms, with all of the eurozone's 6,000 banks set to come under its aegis by 2014.
  • Oct. 18, 2012, 12:33 PM
    Saying it has experienced higher-than-anticipated claims over payment protection insurance policies it sold, Barclays (BCS -1.5%) reserves an additional £700M. The bank has thus far paid out £1.2B in claims, and the U.K. banking industry as a whole has set aside more than £10B.
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  • Oct. 12, 2012, 7:44 AM
    The EU could delay the phasing in of tough new Basel rules on banks by a year from the international start date of January 1, 2013, Bloomberg reports. Banks have said that the date is "wholly unreasonable" given that the EU still hasn't finalized how it will implement the measures.
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  • Oct. 9, 2012, 6:18 AM
    Barclays (BCS) agrees to acquire ING Direct U.K., with the British bank taking on deposits of £10.9B and mortgages of £5.6B, as well as 1.5M customers and 750 employees. The mortgage book has a loan-to-value ratio of 50% as of Aug 31, with Barclays paying a 3% discount but buying the deposit book at par. ING (ING) is taking a €320M after-tax loss on the sale. (PR: Barclays, ING)
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  • Oct. 4, 2012, 11:25 AM
    Barclays (BCS) shakes up the organizational chart at its investment banking business, according to an internal memo seen by Retuers. The moves appear aimed at streamlining some teams into a new groups with new lines of command, and include several senior level departures.
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  • Oct. 2, 2012, 7:33 AM
    Along with its upgrade of U.S. banks, Credit Suisse downgrades to Neutral a trio of U.K. lenders: Barclays (BCS), Lloyds (LYG), and RBS. (Previous: UBS also downgrades Lloyds)
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  • Sep. 26, 2012, 5:07 PM
    European Union regulators are suspending their antitrust investigation into preferential tariffs on credit default swaps allegedly offered by ICE Clear Europe - owned by InterContinentalExchange (ICE) - to nine banks: Bank of America (BAC), Barclays Bank (BCS), Citigroup (C), Credit Suisse (CS), Deutsche Bank (DB), Goldman Sachs Group (GS), JPMorgan Chase (JPM), Morgan Stanley (MS) and UBS (UBS).
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  • Sep. 21, 2012, 8:26 AM
    Despite the government's best efforts at pushing them to boost lending, flush U.K. banks find it easier (and less risky) to profit by paying a premium to buy back their bonds. Why make a loan and be forced to reserve precious capital against it when you can be assured of a gain by cutting interest expense?
  • Sep. 13, 2012, 8:41 AM
    Barclays (BCS) sells a 60% stake in U.K. student housing company University Partnerships Programme (UPP) to Holland's PGGM in deal estimated at £840M. Barclays is now considering selling the other 40% in UPP, Reuters reports, as it looks to exploit the strong investor demand for student accommodation.
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  • Sep. 12, 2012, 3:57 AM
    The EU is due to unveil today proposals to turn the ECB into the eurozone's banking supervisor by 2014 in what would be the first step towards a full banking union. The ECB would begin overseeing the bloc's largest banks from July 2013 and smaller institutions six months later, although national authorities would retain control of daily supervision.
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  • Sep. 11, 2012, 5:36 AM
    Barclays (BCS) could significantly shrink its controversial tax structuring unit, which at its peak earned up to 75% of the profits at the company's investment banking operations, as the firm looks to restore its reputation. However, new CEO Antony Jenkins last night reaffirmed Barclays' commitment to the investment-bank arm despite speculation to the contrary.
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  • Sep. 11, 2012, 4:20 AM
    Moody's remains negative on U.K. banks, due to the travails of the British and eurozone economies. The agency says the likes of RBS (RBS), Lloyds (LYG) and Barclays (BCS) could also be hit by high regulatory costs following various scandals and write-downs on their exposure to foreign real estate. (PR)
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  • Sep. 7, 2012, 9:10 AM
    Premarket gainers: SWHC +22%. ULTA +9%. QCOR +9%. DB +7%. ROSG +7%. BCS +6%. CS +6%. VICL +5%. CTIC +5%.
    Losers: ADNC -59%. P -17%. MFRM -10%. FDUS -6%. PVG -5%.
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  • Sep. 6, 2012, 10:20 AM
    NextEra Energy (NEE -0.4% to $66.86) agrees to sell $650M of equity units to Goldman Sachs (GS), Barclays (BCS) and Citigroup (C). Each unit will be issued in a stated amount of $50, and will consist of a contract to buy shares for $67.15-$80.58 by Sept. 1, 2015. The units also include a 5% undivided beneficial ownership interest in a NextEra debenture that's due in five years. (PR)
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  • Sep. 5, 2012, 11:17 AM
    Libor fallout: The "discharge" of a managing director from Barclays (BCS) in July was over a "loss of confidence ... (for failing) to properly supervise individuals on his team," according to a regulatory filing. In addition to the firing of the MD, one of his traders was let go for "communications involving inappropriate requests relating to Libor."
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  • Aug. 31, 2012, 6:04 AM
    New Barclays (BCS) CEO Antony Jenkins tells the FT that he's cutting the bank's return-on-equity goal to 11%-11.5% from the 13%-15% targeted by predecessor Bob Diamond. Jenkins' top priority is to restore Barclays' battered reputation, and he'll unveil a "transformational plan" in Q1 next year, although it will take 3-5 years to implement. Jenkins is also committed to Barclays remaining a "universal bank."
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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.