Barclays fears tech firms could replace banks June 10, 2014 BANKS must continue to invest in new technologies and customer service if they want to avoid being replaced by firms such as PayPal and Amazon, Barclays’ boss said yesterday. Chief executive Antony Jenkins said customers were increasingly happy to manage their finance online and banks must give them a reason to stay with traditional lenders [...]
Barclays fears Amazon and Google threaten traditional banks June 10, 2014 Customers will soon use tech firms like Amazon, Google and PayPal instead of banks, Barclays’ chief Antony Jenkins said today, promising to innovate more to compete with digital giants. The sector is already being shaken up by new banks being established, and big firms like Tesco offering current accounts. But Jenkins believes the [...]
Barclays rolling out contactless payment wristband next month June 9, 2014 BARCLAYS will launch a contactless payments wristband for consumers in 2015, called bPay, with trials of the wearable technology starting at sponsored events this year. The company hopes that the device will encourage cash-free payments as consumers increasingly turn to card and contactless payments. The British Summer Time music festival in Hyde Park will be [...]
Barclays fined £26m over failure to manage conflict of interest May 23, 2014 The Financial Conduct Authority (FCA) has fined Barclays £26m for failing to manage conflicts of interest between itself and its customers, as well as systems and control failings, in relation to the London Gold Fixing. The Gold Fixing is a price-setting mechanism which gives market users the chance to buy and sell gold at a [...]
Barclays upbeat on brent crude as geopolitical risk keeps prices buoyant May 20, 2014 The Organisation of Petroleum Exporting Countries (Opec) gave a cheerful outlook on the oil market in its latest monthly report, and now Barclays is getting in on the act. Research today from the FTSE 100 bank said that it expects the brent oil price to stay above $105 (£62.40) per barrel on average this year [...]
Barclays resigned to shrink investment arm May 11, 2014 BARCLAYS has to focus on a smaller, more profitable investment bank, rather than aiming to be a giant player, boss Antony Jenkins admitted yesterday. “Investment banking has changed significantly – size itself is not really the objective,” he told the BBC’s Andrew Marr.
Bottom Line: Barclays is moving to the post-crisis age May 8, 2014 BARCLAYS came through the 2007-08 global financial crisis in relatively good shape, tapping up investors across the world to stay afloat rather than sinking like RBS or Lloyds. But there was no way it could keep on playing as it did in the boom years – weak markets hit profits and investors became more aware [...]
London Report: Morrisons forecast and plans for cuts at Barclays lift FTSE May 8, 2014 BRITAIN’S top shares neared nine-week highs yesterday led by Barclays after it announced a revival plan, while investors also welcomed the possibility of more stimulus steps from the European Central Bank in June. Barclays was the standout gainer on the FTSE 100, up 7.9 per cent after it announced 19,000 job cuts in the next [...]
Why Barclays thinks investors need to go for diamonds May 8, 2014 Barclays is feeling pretty positive about the possibilities diamonds are offering investors. With the tide turning when it comes to Chinese growth, a strong dollar and worries over the health of emerging market economies, diamond demand is resurging, it says. Demand growth for diamonds arrives relatively late in an economic cycle, post job creation [...]
That bonus hike was all part of Barclays’ grand plan May 8, 2014 Remember when Barclays increased investment bankers’ bonuses even as profits fell? It went down pretty badly with investors when the 2013 results were announced back in February. At the time chief executive Antony Jenkins could only say that he had to pay more so that staff would stay at Barclays instead of jumping [...]
