8.39 0.00 (0.00%)
After hours: 4:20PM EST
|Bid||8.33 x 28000|
|Ask||8.50 x 21500|
|Day's Range||8.31 - 8.43|
|52 Week Range||7.07 - 12.55|
|Beta (3Y Monthly)||0.60|
|PE Ratio (TTM)||74.91|
|Forward Dividend & Yield||0.26 (3.25%)|
|1y Target Est||8.94|
Barclays' former chairman, giving evidence in a landmark London fraud trial, said he first saw a document detailing agreed fees for Qatari investors in the British bank four years after the payment was agreed. Former Barclays chief executive John Varley and some of his most senior former colleagues - Roger Jenkins, Tom Kalaris and Richard Boath - are charged with conspiracy to commit fraud by false representation over side deals struck with Qatar during an £11 billion-pound emergency fundraising over a decade ago. Marcus Agius, the bank's former chairman, told the trial on Wednesday that he did not know how £280 million of extra fees for Qatar were negotiated or how the figure was arrived at in October 2008 at the height of the financial crisis.
The case stems from Hewlett-Packard’s hiring of Barclays as an adviser for its ultimately disastrous 2011 acquisition of Autonomy Corp., which at the time was the U.K.’s second-largest software business. After Barclays sold HP 6 billion pounds ($7.9 billion) in cable options to help finance the deal, the bank was later asked to unwind -- or sell -- that position. Prosecutors, who have charged him with wire fraud, claim Bogucki was part of a “front-running” scheme to depress the value of HP’s cable options, profiting the bank at HP’s expense.
Barclays believed deals with strategic investors during the 2008 financial crisis would help to provide a springboard for its international ambitions, the bank's former chairman told a London criminal trial on Tuesday. Marcus Agius, called as a prosecution witness in the fraud trial of four former senior colleagues, said the bank had hoped to secure partnerships that would reinforce the bank's global ambitions by granting Barclays "favoured nation status" for future business opportunities with investors such as Qatar. Former Barclays' chief executive John Varley and three former senior executives Roger Jenkins, Tom Kalaris and Richard Boath, deny conspiring to commit fraud by false representation when the bank raised more than 11 billion pounds ($14 billion) from investors in 2008 to avert a British state bailout.
Slight improvement in investment banking performance and decent equity trading activities are expected to support Barclays' (BCS) Q4 earnings.
Rise in revenues support HSBC's Q4 results while higher expenses, global growth concerns and Brexit uncertainty act as headwinds.
Activist investor Edward Bramson's bid to join the Barclays board is destined to fail, shareholders told Reuters, though he has sharpened scrutiny of its investment banking strategy that Bramson argues has depressed profitability. When Barclays reports its 2018 results on Thursday, investors will examine whether the trading and advisory business that Bramson believes should be shrunk has improved its performance, and whether those gains are sustainable. "The onus is now on the Barclays management team to convince the market that their plan is the best way forward," one investor said.
Barclays will host more than 100 clinics for small business customers in March to help them to prepare for Britain's exit from the European Union at the end of that month, the bank said on Tuesday. The lender said about 1,500 of its staff will talk in its branches to businesses attending the events about managing their cashflow, exporting goods, supply chain management and other issues as the March 29 Brexit deadline approaches.
The New York-based hedge fund had been one of the top 10 investors in Barclays and held a stake of 2.5 percent in the bank. It, however, started reducing its position last summer before selling the entire stake this year, the FT reported on Sunday citing anonymous sources. U.S. hedge fund Tiger Global Management has sold all of its stake in British bank Barclays BARC-GB , according to a report by the Financial Times .
The New York-based firm had owned about 2.5 percent of the London-based bank but allowed its position, mostly held in the form of derivatives, to expire, the person said. The use of swaps meant the investment and the subsequent exit never appeared in public filings, according to the person, who asked not to be identified. Tiger began amassing its Barclays investment in late 2017, Bloomberg News has previously reported.
U.S. hedge fund Tiger Global has sold its entire stake of around 2.5% in Barclays, the FT reported, citing unknown sources.
(Bloomberg) -- Emerging-market assets retreated last week amid lingering threats to global growth, even as reports suggested the U.S. and China had reached consensus on the main topics in their trade talks on Friday. Currencies posted their worst weekly slide since mid-December, while stocks deepened their monthly decline.
Tiger, which held a stake of about 2.5 percent in the U.K. bank, started reducing its position last year, before exiting it entirely early this year, the FT reported, citing unidentified people familiar with the situation. The fund had been one of the strongest supporters of Chief Executive Officer Jes Staley’s plan to bolster the lender’s share price by reviving its investment bank, the FT said. Barclays is also trying to prevent activist investor Edward Bramson from forcing his way on to the board and imposing a shift in strategy that would involve shrinking the investment bank, the report said.
The hedge fund, which had a stake of about 2.5 percent in the bank, began reducing its holding last summer before selling the entire stake earlier this year, the report https://on.ft.com/2DRKvnB said, citing people familiar with the matter. The hedge fund had invested more than $1 billion (£774.8 million) in Barclays and built a stake of about 2.5 percent in November 2017, the FT had reported early last year.
On Feb. 7, MNG Enterprises, a wholly owned investment vehicle of Alden Global Capital, reported ownership of 8,506,799 shares, equal to 7.5% of the newspaper publisher’s tradable stock. On Feb. 13, Contrarian Capital Management revealed its ownership of 783,350 shares of the independent oil-and-gas producer, equal to 5.2% of its outstanding stock. On that same day, Contrarian addressed a letter to Penn Virginia’s board stating its opposition to a $1.7 billion acquisition offer that (DNR) (DNR) proposed in October 2018.
The Russian government signaled its intention to take a 500 million-pound ($641 million) stake in the lender, according to minutes of an October 2008 finance committee meeting that was shown to a jury during the fraud trial of senior Barclays officials. With the involvement of Hans-Joerg Rudloff, a Barclays banker with close links to the Russian government, Moscow was proposing to take a 1.5 percent stake. The approach was revealed as the bank sought to nail down its preferred Qatari and Abu Dhabi investors to a fundraising plan that would remove the threat of a government bailout.
Near the Bank of England, there is a statue of George Peabody, “American philanthropist and great benefactor of the poor”. Wall Street was then a poor cousin to the City in investment banking, but those roles have reversed. The place for financiers to seek fortunes is New York, rather than London or Frankfurt.
Barclays and J.P. Morgan on Thursday reduced their estimates on U.S. economic growth in the final quarter of 2018 following data that showed domestic retail sales took a 1.2 percent spill in December, which was its steepest monthly drop in nine years. U.S. gross domestic product likely grew at a 2.0 percent annualized pace in the final three months of last year based on the latest retail sales figures, slower than an earlier calculated rate of 2.6 percent, J.P. Morgan economist Michael Feroli wrote in a research note.
Announcement: Moody's Fully Supported Municipal& IRB Deals. Global Credit Research- 13 Feb 2019. New York, February 13, 2019-- ASSIGNMENTS:.
LONDON (Reuters) - Britain's Barclays said customers were experiencing problems logging into mobile, telephone and digital banking on Thursday, the latest in a string of such outages as banks upgrade their ...
Moody's Investors Service has assigned a Aa3 enhanced rating to Custodial Receipts (Barclays), Series 2015-XF1015 (the Receipts) evidencing beneficial ownership of the Health and Educational Facilities Authority of the State of Missouri Health Facilities Revenue Bonds (CoxHealth), Series 2013A (the Bonds). The JDA rating is based on the long-term Counterparty Risk (CR) Assessment, A2 (cr), 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.
Barclays has spent 100 to 200 million pounds ($129-258 million) moving operations and staff out of Britain to prepare for Brexit, its UK chairman Gerry Grimstone said on Wednesday as bank bosses detailed the costs involved. International banks have been setting up subsidiaries across the European Union since Britain voted to leave the bloc in 2016 to ensure they can continue to serve clients if their operations in London lose the rights to do so from March 29. Barclays has moved its European headquarters and almost 200 billion euros in assets to Dublin and last year began shifting 40 to 50 investment banking jobs to Frankfurt from London.
Barclays (BARC.L) has spent 100 to 200 million pounds moving operations and staff out of Britain to prepare for Brexit, its UK chairman Gerry Grimstone said on Wednesday as bank bosses detailed the costs involved. International banks have been setting up subsidiaries across the European Union since Britain voted to leave the bloc in 2016 to ensure they can continue to serve clients if their operations in London lose the rights to do so from March 29. Barclays has moved its European headquarters and almost 200 billion euros in assets to Dublin and last year began shifting 40 to 50 investment banking jobs to Frankfurt from London.