|Bid||162.44 x 423300|
|Ask||162.56 x 350000|
|Day's Range||160.48 - 174.44|
|52 Week Range||160.48 - 220.10|
|Beta (3Y Monthly)||0.06|
|PE Ratio (TTM)||77.58|
|Earnings Date||Oct 22, 2018 - Oct 26, 2018|
|Forward Dividend & Yield||0.04 (2.55%)|
|1y Target Est||223.63|
intensified concern over whether Theresa May will be able to steer her Brexit deal through parliament. The reaction from financial markets has been subdued since Mrs May struck a Brexit deal with the EU earlier this week, because of fears that it would prove unacceptable to heavyweight pro-Brexit members of the cabinet, including Mr Raab, and ultimately jeopardise the agreement and the prime minister’s position. Having been stuck in a tight range in early trading on Thursday, the pound tumbled 1.8 per cent to below the $1.28 mark after Mr Raab said he could not in “good conscience” support the deal.
The pound slumped and gilts rallied after Dominic Raab quit as U.K. Brexit secretary less than 24 hours after Prime Minister Theresa May said she had won cabinet approval for a deal with the European Union. Sterling slid the most in more than 17 months after Raab said that he couldn’t “in good conscience support the terms proposed for our deal.” Over in the money markets, investors priced out the prospect of a rate increase by the Bank of England next year. Raab’s departure stokes fears of a revolt against May from within her own party that may ultimately imperil the chances of the U.K. leaving the EU with a divorce deal in hand.
Shares in UK retail banks Lloyds , Barclays and Royal Bank of Scotland dropped sharply this morning after the resignation of Brexit secretary Dominic Raab. Lloyds was down 5.3 per cent, Barclays fell 6.3 ...
Britain's top U.K. lawmaker tasked with leading Britain's exit negotiations with the European Union has resigned Thursday, throwing the recently agreed deal to take the U.K. out of the bloc in chaos and threatening the leadership of Prime Minister Theresa May. Dominic Raab, the so-called Brexit Secretary, issued a statement on Twitter Thursday that indicated his inability to support May's agreement, which was reached last night among her most senior party colleagues after a five-hour meeting in which she attempted to win support for her plan to keep portions of the U.K. economy, including Northern Ireland, as closing-aligned as possible to the EU Single Market. "I regret to say that, following the Cabinet meeting yesterday on the Brexit deal, I must resign," Raab wrote in a letter to the Prime Minister.
On Wednesday, British Prime Minister Theresa May said she had obtained enough support for her proposed Brexit deal to move forward. Concerns over oversupply in oil continues to dominate investor sentiment. European stock indexes turned negative on Tuesday after U.K. Brexit minister Dominic Raab resigned from his post, piling yet more pressure on U.K. Prime Minister Theresa May .
Moody's Investors Service (Moody's) has assigned a Aa2/VMIG 1 rating to the RIB Floater Trust (Barclays Liquidity), Floating Rate Trust Receipts (FLOATER-TRs), Series 2018-FR/RI-029 (the Receipts). The long-term rating is based upon the rating of the underlying custody receipts, Custodial Receipts, RIB Floater Trust, Series 2018-FR/RI-029, deposited into the trust. Events that would cause the liquidity facility to terminate without a mandatory purchase of the Receipts are related to the credit quality and the tax status of the custody receipts deposited into the trust.
Moody's Investors Service has assigned a Aa2 enhanced rating to Custodial Receipts, RIB Floaters Trust, Series 2018-FR/RI-029A&B evidencing an undivided interest in Pennsylvania Turnpike Commission Turnpike Revenue Bonds, Series A-1 of 2015 and Series A-1 of 2016 (the Bonds). The JDA rating is based on the long-term rating, A2, of Barclays Bank PLC (the Bank) as provider of the Letter of Credit (LOC), the underlying rating of the Bonds, and the structure and legal protections of the transaction which provide for timely payment of debt service to Custody Receipt holders. Since a payment default on the Custody Receipts would occur only if both the Bank and the issuer of the Bonds default on bond principal and/or interest payment dates, Moody's has assigned the rating based upon the joint probability of default by both parties.
General Electric stock (GE) gained ~8% yesterday after newly appointed CEO Larry Culp revealed his first major step to strengthen the company’s liquidity. The US industrial conglomerate (XLE) announced it had entered a series of agreements with Baker Hughes (BHGE) including a stake sale in Baker Hughes that would raise almost $4 billion for GE. According to the agreement, GE will maintain over a 50% interest in Baker Hughes after the stake sale.
Corporate leaders welcomed how the cabinet had backed the prime minister’s proposed withdrawal agreement with the EU. “Business breathed a collective sigh of relief,” said one participant on the conference call with Mr Hammond, noting how under the agreement the UK’s membership of the EU customs union was retained on a temporary basis. Business leaders were also reassured that there was an option to extend the Brexit transition period beyond December 2020.
The price of oil bounced back on Wednesday from its worst one-day decline since July, adding to the volatility of a week dominated by fears of a slowdown in global demand. West Texas Intermediate, the US benchmark, was up as much 2.8 per cent $56.23 after tumbling 7.1 per cent on Tuesday. After a brief advance on Monday, a gloomier forecast for global demand from Opec’s research arm on Tuesday rattled the market.
Small businesses are being damaged by the closure of branches by British banks who need ways to collaborate on sharing, the Banking Standards Board (BSB) said on Tuesday. "The issue of branch closures needs to get higher up everybody's agenda," BSB chair Colette Bowe told the British parliament's Treasury Select Committee, adding that she has already taken it up with the banking industry's trade body. Alison Cottrell, chief executive of the BSB said a "space" may be needed for banks to discuss "collaboration" on branch closures and branch sharing.
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General Electric’s (GE) nightmare doesn’t seem to be over yet. The company’s stock fell nearly 7% yesterday, its 12th loss in the last 13 sessions. Yesterday’s blow came after the US industrial conglomerate’s newly appointed chair and CEO, Larry Culp, said during a CNBC interview that he feels “urgency” to lower debt and would do that by selling assets. Also, its free cash flows were negative in all three quarters of 2018, which indicates the company’s severe liquidity problem.
Shares of General Electric (GE) took a hit on November 9 after JPMorgan Chase (JPM) analyst Stephen Tusa lowered his target price on the stock by 40% to $6 from $10. In a report to his clients, Tusa said that the US industrial conglomerate’s latest quarterly results were worse than expected. Following the report, GE stock tumbled to its lowest level in over nine years to $8.15 on November 9.
Highlights for the week ended Nov. 9:Chinese President Xi Jinping stood his ground in a speech at the Shanghai trade fair, denouncing U.S. President Donald Trump’s “law of the jungle” trading practices.
On Monday, the deposed prime minister’s United National Party and the opposition Tamil National Alliance filed formal petitions with the Supreme Court challenging the dissolution of parliament, according to party member Harsha De Silva and Tamil leader R. Sambanthan. “We are prepared to go for an election, but this is illegal,” said De Silva, who was state minister of economic affairs under Wickremesinghe’s government.
Barclays’s activist investor is stepping up a campaign to shrink the trading business by drumming up support among the British lender’s non-executive directors, according to a person familiar with the matter. Bramson, who has also been courting fellow shareholders in California, New York and London in recent weeks, has told some that he has the firepower to increase his stake, the person said. The activist investor reiterated that he doesn’t want Barclays to pour more capital into the corporate and investment bank, which is the lowest-return business at the lender, the person said.
At the time of the last rating action, in September 2017, there was an input error in the weights of the exposure to the Export-Import Bank of the United States (EximBank) and the Export Credits Guarantee Department of the United Kingdom (ECGD) (both the guarantors). The notes have a pass-through structure.
Britain's big banks, long able to shrug off competition from start-ups, have been spooked by an account launched just six weeks ago by Goldman Sachs (GS.N) that pays savers more. One of the banks admitted privately that it has seen a spike in savers switching, while others have launched new accounts or raised rates to try to nip "Marcus" in the bud. British savers have got used to payouts of 1 percent or less thanks to rock-bottom central bank rates, but the launch of Marcus with a 1.5 percent rate on Sept. 27 has shaken things up.
This Sunday marks the centenary of the 1918 armistice that ended the first world war. It is a good time to peruse a new ebook collection of short essays on the economics of the Great War, its causes and its aftermath.
A number of customers took to Twitter to complain they were unable to access their accounts, while Reuters received an error message when it tried to access the lender's online banking home page. A Barclays spokesman said the bank was experiencing some technical problems, but later said these had been resolved for all customers.
NEW YORK/ZURICH (Reuters) - UBS Group AG, Switzerland's largest bank, faces another potentially costly legal battle as the U.S. Department of Justice draws up civil charges over the sale of mortgage-backed securities in the run-up to the 2008 financial crisis. UBS said on Wednesday it expected to be sued by the Justice Department as early as Thursday.
UBS Group AG, Switzerland's largest bank, said it expects to be sued by the U.S. Department of Justice as early as Thursday on civil charges related to the sale of mortgage-backed securities in the run-up to the 2008 global financial crisis, according to a company statement. The U.S. Department of Justice did not immediately respond to a request for comment. UBS said the Justice Department advised the bank that it intends to file the lawsuit.
A group of large institutional investors including BlackRock Inc and Allianz SE's Pacific Investment Management Co has sued 16 major banks, accusing them of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market. The lawsuit was filed on Wednesday in the U.S. District Court in Manhattan by plaintiffs that decided to "opt out" of similar nationwide litigation that has resulted in $2.31 billion (£1.76 billion) of settlements with 15 of the banks. The banks being sued are: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, Japan's MUFG Bank, Royal Bank of Canada, Royal Bank of Scotland, Societe Generale, Standard Chartered and UBS.
A group of large institutional investors including BlackRock Inc and Allianz SE's Pacific Investment Management Co has sued 16 major banks, accusing them of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market. The lawsuit was filed on Wednesday in the U.S. District Court in Manhattan by plaintiffs that decided to "opt out" of similar nationwide litigation that has resulted in $2.31 billion of settlements with 15 of the banks. The banks being sued are: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, Japan's MUFG Bank, Royal Bank of Canada, Royal Bank of Scotland, Societe Generale, Standard Chartered and UBS.