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Barclays to cut 12,000 jobs, pays bigger bonuses

By Steve Slater and Matt Scuffham LONDON (Reuters) - Barclays said it would axe up to 12,000 jobs this year even as it raised bonuses for investment bankers, prompting fury among politicians and unions who said it had not learned the lessons of the financial crisis. Britain's third-biggest bank said up to 9 percent of employees could go, including 7,000 in Britain, as it tries to lower costs. The cuts are not concentrated in any one business area.

Barclays joins banks helping with forex probe

By Steve Slater and Matt Scuffham LONDON (Reuters) - Barclays <BARC.L> is cooperating with regulators investigating possible manipulation of currency trading by banks, deepening scrutiny of its conduct as it also grapples with a slump in investment banking income. Britain's third-biggest bank by stock market value said on Wednesday it was reviewing its foreign exchange trading over several years and was cooperating with authorities investigating possible attempts to manipulate certain benchmark rates.

Haggling 101: Six ways to get a deal on anything

By Chris Taylor NEW YORK (Reuters) - Jeff Yeager likes to haggle. The Washington, D.C., author is something of a virtuoso at this lost art, with a deep playlist of tactics that he estimates saves him 10 percent to 15 percent a year on his spending. "I try to negotiate on all sorts of things, every day," Yeager says. "And the vast majority of the time, it's a very positive interaction."

Barclays close to new shares offer worth £5.8 bn

Barclays will launch a £5.8-billion rights issue next week to help meet a regulatory demand to plug a hole in its balance sheet, the British bank said on Wednesday. The bank will sell the new shares on September 13 priced at 185 pence each -- a steep 40-percent discount to the price of its traded stock just before it announced the rights issue on July 30. Barclays shares were trading 0.52 percent lower at 283.6 pence in late morning deals on London's benchmark FTSE 100 index, which was down 0.50 percent at 6,435.92 points.

Barclays says new watchdog targets could force lending cut

By Steve Slater LONDON (Reuters) - Barclays <BARC.L> warned on Friday it may have to cut lending if it is forced to act quickly to meet new financial targets imposed by regulators, but the Bank of England said it will not accept any plans that hurt lending. The central bank's Prudential Regulation Authority (PRA) last week surprised investors by telling banks they needed to have a 3 percent leverage ratio, and said Barclays fell short with a ratio of only 2.5 percent after adjustments.

UK's Nationwide draws up plan to plug 1 billion capital hole-report

LONDON (Reuters) - Nationwide <POB_p.L>, Britain's biggest customer-owned financial services group, is drawing up plans to raise at least 1 billion pounds ($1.5 billion) to fill a hole in its balance sheet, the Sunday Times said. Nationwide must raise additional capital of 400 million pounds in order to meet a new target for banks to hold core Tier One capital equivalent to 7 percent of their risk-weighted assets, Britain's financial regulator said last week.

UPDATE 1-Britain rejects call to stiffen bank leverage rules

* Ratio of 3 pct not strict enough - lawmakers * Tougher rules to be reviewed in 2017 * Government rejects call for full break-up * Parliament debates Banking Reform bill By Matt Scuffham and Steve Slater LONDON, March 11 (Reuters) - Britain will resist calls to impose far stricter rules on how much banks can leverage their capital for investments and lending, insisting that there is no need to do so before 2018.
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