Barclays http://www.globalpost.com/taxonomy/term/27311/all en UPDATE 1-Barclays consults on job cuts at UK investment bank http://www.globalpost.com/dispatch/news/thomson-reuters/130122/update-1-barclays-consults-job-cuts-at-uk-investment-bank <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Around 2,000 investment banking jobs could go in cut backs</p> <p>* Review of investment bank central to new CEO's overhaul</p> <p>LONDON, Jan 22 (Reuters) - Barclays has launched a consultation with staff in its investment bank whose jobs are at risk following a strategic review by new Chief Executive Antony Jenkins, the bank said on Tuesday.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130122/update-1-barclays-consults-job-cuts-at-uk-investment-bank" target="_blank">read more</a></p> Barclays Business Investment Investment banks Primary dealers Thomson Reuters Tue, 22 Jan 2013 18:45:33 +0000 Thomson Reuters 5737912 at http://www.globalpost.com UPDATE 2-Barclays CEO wants to keep large investment bank http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-2-barclays-ceo-wants-keep-large-investment-bank <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* UK bank to cut 70-90 investment bankers in Asia-sources</p> <p>* Bank will keep "significant and large" investment bank-CEO</p> <p>* CEO says comfortable with capital position</p> <p>By Lawrence White and Steve Slater</p> <p>HONG KONG/LONDON, Jan 24 (Reuters) - Barclays wants to remain a big player in investment banking even though the British bank is cutting costs and jobs in that business, including at least 70 in its Asian division.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-2-barclays-ceo-wants-keep-large-investment-bank" target="_blank">read more</a></p> Barclays Barclays Investment Primary dealers Thomson Reuters Thu, 24 Jan 2013 12:30:26 +0000 Thomson Reuters 5738769 at http://www.globalpost.com UPDATE 3-Barclays forced to name executives on Libor list http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-1-uk-court-forces-barclays-reveal-staff-libor-list <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Matt Scuffham</p> <p>LONDON, Jan 24 (Reuters) - Barclays was forced to name former heads Bob Diamond and John Varley, finance director Chris Lucas and other top executives and traders linked to a global rate-fixing probe, despite their calls for anonymity.</p> <p>A UK judge ordered the bank to reveal their identities on Thursday during a preliminary hearing for a British test case on the mis-selling of interest rate swaps brought by a residential care home operator.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-1-uk-court-forces-barclays-reveal-staff-libor-list" target="_blank">read more</a></p> Banking Barclays Business Economics Finance Interest rates Labor Law Social Issues War Thomson Reuters Thu, 24 Jan 2013 14:15:28 +0000 Thomson Reuters 5738809 at http://www.globalpost.com UK court identifies Barclays staff named in rate probe http://www.globalpost.com/dispatch/news/thomson-reuters/130125/uk-court-identifies-barclays-staff-named-rate-probe <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Matt Scuffham</p> <p>LONDON, Jan 25 (Reuters) - A number of Barclays current and past executives are on a shortlist of individuals named in regulatory documents referring to the bank's attempted rigging of global benchmark interest rates, court documents released on Friday showed.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130125/uk-court-identifies-barclays-staff-named-rate-probe" target="_blank">read more</a></p> Barclays Barclays Economics Financial economics Thomson Reuters Fri, 25 Jan 2013 14:00:29 +0000 Thomson Reuters 5739351 at http://www.globalpost.com RPT-UPDATE 2-Barclays boss forgoes bonus, Qatar deal probed http://www.globalpost.com/dispatch/news/thomson-reuters/130201/update-1-barclays-ceo-jenkins-says-wont-take-2012-bonus <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* UK probes whether bank lent Qatar money to buy shares- FT</p> <p>* Barclays declines comment on ongoing investigations</p> <p>* Barclays pay under scrutiny after rate rigging scandal</p> <p>By Steve Slater and Matt Scuffham</p> <p>LONDON, Feb 1 (Reuters) - Barclays Chief Executive Antony Jenkins has opted not to take a bonus for 2012, saying he should "bear an appropriate degree of accountability" for the difficult year the British bank endured.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130201/update-1-barclays-ceo-jenkins-says-wont-take-2012-bonus" target="_blank">read more</a></p> Antony Jenkins Asia Barclays Barclays Business Economy of the United Kingdom Labor Law United Kingdom Thomson Reuters Fri, 01 Feb 2013 13:30:51 +0000 Thomson Reuters 5743011 at http://www.globalpost.com Barclays announces departure of senior bank staff http://www.globalpost.com/dispatch/news/afp/130204/barclays-announces-departure-senior-bank-staff <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Barclays on Monday said that its finance director and top legal expert had decided to leave the bank, as the British lender undergoes a shake-up in the wake of the Libor rate-rigging scandal.</p> <p>"Barclays has today announced that the Group Finance Director Chris Lucas, and the Group General Counsel Mark Harding, have decided to retire from the company," the bank said in a statement.</p> <p>The pair would remain in their roles until the appointment of successors -- a process expected "to take a considerable time to complete" considering the seniority of the positions, Barclays added.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/barclays-announces-departure-senior-bank-staff" target="_blank">read more</a></p> bank Banking Barclays Finance Interest rates AFP Mon, 04 Feb 2013 08:30:26 +0000 Agence France-Presse 5745076 at http://www.globalpost.com UPDATE 4-Barclays ducks Qatar questions, takes $1.6 bn mis-selling hit http://www.globalpost.com/dispatch/news/thomson-reuters/130205/update-1-barclays-increases-mis-selling-provisions <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Makes 1 bln stg provision for PPI, interest rate swaps</p> <p>* Signals rival UK banks need to set aside more cash</p> <p>* Says cannot comment on Qatar fundraising investigation</p> <p>* "We are shredding" some behaviours of the past -CEO</p> <p>By Steve Slater and Matt Scuffham</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130205/update-1-barclays-increases-mis-selling-provisions" target="_blank">read more</a></p> Banking in the United Kingdom Barclays Barclays Dispute resolution HSBC Bank Canada Human Interest Payment protection insurance Thomson Reuters Tue, 05 Feb 2013 08:00:18 +0000 Thomson Reuters 5746104 at http://www.globalpost.com URGENT ¥¥¥ Barclays bank takes extra £1.0-bn charge for mis-selling http://www.globalpost.com/dispatch/news/afp/130205/urgent-barclays-bank-takes-extra-10-bn-charge-mis-selling <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>British bank Barclays said Tuesday that it will set aside another £1.0 billion ($1.6 billion, 1.2 billion euros) to cover redress for the mis-selling of both credit insurance and interest rate hedging products.</p> <p>Barclays, rocked last year by the Libor scandal, said in a statement that it will set aside another £400 million to cover the mis-selling of interest rate swap products, and another £600 million to cover the mis-selling of payment protection insurance.</p> <p>rfj/rl</p> Barclays Business Finance Financial economics GBP AFP Tue, 05 Feb 2013 08:00:26 +0000 Agence France-Presse 5746106 at http://www.globalpost.com Barclays bank takes extra £1.0-bn charge for mis-selling http://www.globalpost.com/dispatch/news/afp/130205/barclays-bank-takes-extra-10-bn-charge-mis-selling <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Scandal-hit British bank Barclays said Tuesday that it will set aside another £1.0 billion ($1.6 billion, 1.2 billion euros) to cover compensation for the mis-selling of both credit insurance and interest rate hedging products.</p> <p>Barclays, which was rocked last year by the separate Libor rate-rigging scandal, said in a brief statement that it hiked its provision for the mis-selling of payment protection insurance by another £600 million, taking its total bill to £2.6 billion.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130205/barclays-bank-takes-extra-10-bn-charge-mis-selling" target="_blank">read more</a></p> Banking Barclays Business Finance Interest rates Labor Law AFP Tue, 05 Feb 2013 09:00:12 +0000 Agence France-Presse 5746132 at http://www.globalpost.com Barclays to slash jobs after suffering 'reputational damage' http://www.globalpost.com/dispatch/news/afp/130212/barclays-slash-jobs-after-suffering-reputational-damage <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Barclays will cut at least 3,700 jobs this year and slash costs, the scandal-hit bank announced on Tuesday as it also revealed that it had plunged into an annual net loss amid the Libor rate-rigging crisis.</p> <p>The British bank said in a statement that it would "reduce headcount by at least 3,700 across the group, including 1,800 in the Corporate &amp; Investment Bank and 1,900 in Europe Retail and Business Banking." Barclays employs 140,000 staff.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130212/barclays-slash-jobs-after-suffering-reputational-damage" target="_blank">read more</a></p> Banking Barclays Finance Interest rates AFP Tue, 12 Feb 2013 12:30:59 +0000 Agence France-Presse 5753401 at http://www.globalpost.com UPDATE 1-Barclays, RBS making plans to boost capital - sources http://www.globalpost.com/dispatch/news/thomson-reuters/130225/update-1-barclays-rbs-making-plans-boost-capital-sources <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Aimee Donnellan and Steve Slater</p> <p>LONDON, Feb 25 (IFR/Reuters) - Barclays and Royal Bank of Scotland are planning to raise more capital via bonds that convert into shares in times of crisis, to help meet safeguards for taxpayers that are being demanded by regulators.</p> <p>British bank Barclays could issue up to 7 billion pounds ($11 billion) in so-called contingent convertibles, or CoCos, people close to the matter said on Monday, adding to the 3 billion it raised in November.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130225/update-1-barclays-rbs-making-plans-boost-capital-sources" target="_blank">read more</a></p> Barclays Business Economy of the United Kingdom Royal Bank of Scotland Group United Kingdom Thomson Reuters Mon, 25 Feb 2013 18:45:33 +0000 Thomson Reuters 5766255 at http://www.globalpost.com Barclays investment bank boss cashes in $26 million award http://www.globalpost.com/dispatch/news/thomson-reuters/130320/barclays-investment-bank-boss-cashes-26-million-award <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Steve Slater</p> <p>LONDON (Reuters) - Rich Ricci, the head of Barclays' investment bank, has sold shares worth more than 17 million pounds straight after receiving them as part of previous deferred bonuses or long-term awards.</p> <p>Barclays said on Wednesday Ricci was awarded 5.7 million shares on Monday and had sold them all when the shares were priced at 308.1 pence, valuing the stake at 17.6 million pounds. Barclays shares have fallen through this week and closed on Wednesday at 295.2p.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130320/barclays-investment-bank-boss-cashes-26-million-award" target="_blank">read more</a></p> Barclays Barclays Business Financial services Thomson Reuters Wed, 20 Mar 2013 18:00:26 +0000 Thomson Reuters 5789001 at http://www.globalpost.com Barclays CoCo plan seeks to allay investor dilution threat http://www.globalpost.com/dispatch/news/thomson-reuters/130417/barclays-coco-plan-seeks-allay-investor-dilution-threat <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Steve Slater</p> <p>LONDON (Reuters) - Barclays &lt;BARC.L&gt; is seeking to head off any future row with shareholders about dilution of their holdings by proposing they get the right to buy shares if new instruments kick in that force debtholders to convert to equity.</p> <p>Regulators are demanding that bondholders help strengthen a bank if its capital position weakens, which would provide greater protection for depositors and taxpayers. Banks are trying to develop the best structure for such debt.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130417/barclays-coco-plan-seeks-allay-investor-dilution-threat" target="_blank">read more</a></p> Barclays Business Corporate finance Economics Stock market Thomson Reuters Wed, 17 Apr 2013 14:30:05 +0000 Thomson Reuters 5818360 at http://www.globalpost.com Barclays promises "rigorous" pay review http://www.globalpost.com/dispatch/news/thomson-reuters/130425/barclays-pledges-rigorous-review-pay-top-earners <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Steve Slater</p> <p>LONDON (Reuters) - Barclays &lt;BARC.L&gt; promised a rigorous review of executive pay and a cooperative relationship with regulators as it tries to dispel a reputation for reckless risk-taking and unethical behaviour that caused a series of scandals.</p> <p>The British bank said on Wednesday it would reform its standards and culture, from improving coordination within its executive team to forcing all staff to attend a course on the company's new values.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130425/barclays-pledges-rigorous-review-pay-top-earners" target="_blank">read more</a></p> Barclays Barclays Bob Diamond Business Executive pay Human Interest Investment banking Labor Law Thomson Reuters Thu, 25 Apr 2013 09:00:04 +0000 Thomson Reuters 5824843 at http://www.globalpost.com Barclays promises angry investors to crack down on pay http://www.globalpost.com/dispatch/news/thomson-reuters/130425/barclays-vows-crack-down-excess-pay <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Steve Slater</p> <p>LONDON (Reuters) - Barclays promised a rigorous review of executive pay on Thursday, as shareholders at the bank's annual meeting said they remain unconvinced that big bonus payouts will be abandoned by its new bosses as part of a new ethical drive.</p> <p>Chief Executive Antony Jenkins, drafted in last year to tear up Barclays' profits-at-all-costs culture, told shareholders it would take time for them to see the benefits of his multi-billion-pound overhaul.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130425/barclays-vows-crack-down-excess-pay" target="_blank">read more</a></p> Barclays Barclays Business Executive pay Human Interest Investment banking Labor Law Thomson Reuters Thu, 25 Apr 2013 14:15:04 +0000 Thomson Reuters 5825088 at http://www.globalpost.com