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Barclays PLC (BCS)

  • 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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  • Aug. 30, 2012, 5:08 AM
    New Barclays (BCS) CEO Antony Jenkins plans to undertake a root and branch review of the bank's business, CNBC reports, with Jenkins aiming to restore trust by examining its culture, practice and values. He will also focus on stabilization following the scandals that Barclays has become emeshed in. Shares -0.8% in London.
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  • Aug. 30, 2012, 3:06 AM
    Barclays (BCS) names Antony Jenkins as CEO to replace Bob Diamond, who resigned in the wake of the Libor scandal. The appointment of Jenkins, who is the head of the firm's retail and business banking operations, comes as Barclays faces investigations and lawsuits over the Libor scandal, and a probe into its Middle East fundraising in 2008. (PR)
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  • 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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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.