Barclays’ dark pool still reeling from New York legal accusations August 4, 2014 Barclays’ private trading facility is still struggling to bounce back from claims in the US that it lied to investors, industry data showed yesterday. The British bank is fighting the claims, arguing it did not mislead investors and that the New York attorney general has got his facts wrong. Just 95.8m shares were traded on the Barclays [...]
Barclays’ Antony Jenkins says his bank has turned corner July 30, 2014 Antony Jenkins had a new spring in his step yesterday. Payment protection insurance mis-selling might have blown another near-billion pound hole in his profits, but he had the look of a man who knows he is on the verge of something great. Like most post-crisis banking chiefs, Jenkins took the reins at Barclays in the wake [...]
Barclays’ progress frustrated by legal costs and PPI July 30, 2014 Mounting PPI payouts and weak investment bank performance knocked Barclays’ profits in the first half of 2014, the bank said yesterday. Pre-tax profits fell seven per cent to £3.3bn, down from £3.6bn in the same period of 2013. Operating income fell nine per cent to £12.2bn, while operating expenses rose nine per cent to £8.9bn. [...]
Barclays and Deutsche Bank offices could be monitored in forex market fixing probe July 30, 2014 Regulators want to place government monitors in the offices of Barclays and Deutsche Bank in the US as part of an investigation into alleged currency price fixing on the forex market. The New York Department of Financial Services wants to monitor the current and historical operations of the banks, the Wall Street Journal reports. The [...]
Barclays share price rises despite fall in profit July 30, 2014 Barclays has seen its share price rise in early trading despite underwhelming half-yearly results. Shares were up 3.2 per cent to 226.1 pence at pixel time, as the markets were clearly not put off by an announcement which included falls in overall profit before tax ( down seven per cent) and profit before tax for Barclays investment [...]
Barclays profits down seven per cent as investment business hit July 30, 2014 The sun may be out, but there is no escaping the gloom for Barclays which released its first half results this morning. The headline figures make grim reading: a seven per cent drop in pre-tax profit during the first half of the year a figure swollen by the 46 per cent decline in profit before [...]
UBS and Deutsche Bank join Barclays in dark pools probe July 29, 2014 European banking giants UBS and Deutsche Bank both reported strong underlying profit figures in the second quarter, but yesterday revealed they were being hit by new regulatory probes. This follows investigations into their dark pools, private trading venues which are facing increased levels of scrutiny. It comes after Goldman Sachs was fined for processing trades [...]
Barclays dark pool volumes bounce back after fraud allegations July 28, 2014 Trading in Barclays dark pool bounced back in early July, industry data showed yesterday. Volumes had collapsed by more than 70 per cent after Goldman Sachs was fined for wrongdoing and Barclays was accused by US regulators of lying to investors in the private trading facility. The most recent data covers the second week of [...]
Barclays’ Ashok Vaswani is hoping to turn around the UK’s most broken industry July 27, 2014 "My name is Ashok Vaswani. My role is to listen to customers, to make sure we give them what they want.” This understates his job title somewhat. Vaswani is Barclays’ CEO of personal and corporate banking, a powerful new job which has seen him take control of its global operations in retail, business and [...]
Barclays bites back over US dark pool fraud charge July 24, 2014 Barclays squared up to US regulators yesterday, fiercely rejecting claims it had lied to investors using its dark pool trading facilities. It is the first time a British bank has reacted so strongly to legal attacks from the US, as banks have been reluctant to fight back openly since the financial crash struck. “Fundamentally, the [...]
